Papaya Global
| File:Papaya logo.svg | |
| Private | |
| ISIN | 🆔 |
| Founded 📆 | 2016 [1] |
| Founder 👔 |
|
| Headquarters 🏙️ | Herzliya [3] and New York City [4] |
Area served 🗺️ | |
| Products 📟 | Payroll and payments processing (Payroll, EOR, contractors) |
| Members | |
Number of employees | 750 [5] (2023) |
| 🌐 Website | papayaglobal.com |
| 📇 Address | |
| 📞 telephone | |
Papaya Global is a privately held software company based in Herzliya, Israel. It supplies payroll and payments for companies hiring international employees through their organizations EOR and contractors.
History[edit]
Papaya Global was founded in April 2016 by Eynat Guez (CEO), Ofer Herman (SVP IT&IS), and Ruben Drong (SVP Data). In October 2018, it raised $3 million in seed money [6] and in November 2019, $45 million in a series A round led by Insight Partners, with the participation of Bessemer Venture Partners. [7] In September 2020, the company raised $40 million in a series B round. It was led by Scale Venture Partners, along with other VC's such as Access Industries , and existing investors, including Insight Partners and Bessemer Venture Partners. [8] In March 2021, the company raised $100 million in a Series C round led by GreenOaks Capital Partners and existing investors, making the total amount raised $195 million, and bringing its value to $1.2 billion, becoming a Unicorn [9] In September 2021, Papaya Global raised $250 million in a Series D round led by Insight Partners, bringing its value to $3.7 billion. The total amount raised by the company is $440 million.[10] The company has offices in New York City, Austin, Melbourne, Singapore, Kraków, London and Herzliya.[11]
In July 2020, it acquired the intellectual property of Mensch, Human resource management system company.[8] In November 2021, the company acquired NickNack, an Israeli telework connectivity startup.[12] In March 2022, it acquired Azimo, remittance payments service.[13] The company has more than 700 customers including Panasonic, Shopify, Payoneer, Vimeo, Intel, Toyota, Wix.com, Microsoft, Fiverr, CyberArk, Checkmarx,[14] OneTrust, Hopin, nCino, General Dynamics,[15] and Johnson & Johnson.[16]
Products[edit]
Papaya Global provides SaaS services for workforce management, organizational socialization, payroll and compliance and payments of transnational organizations. The system provides software as a service model in over 160 states and handles payroll and payments employees, EOR and contractors.[17] It offers workforce compliance facility with employment laws and regulations in each country, including the creation of contracts in accordance with local labor laws and filing local tax forms. The company offers immigration services to accommodate work permit for employees, for short or long period assignments outside their home countries. It assists businesses with delivering payments for their workers within 72 hours. It integrates with JPMorgan Chase processing payments.[18] The payroll UI uses features that support businesses in understanding and analyzing their payroll information.[19]
Recognition[edit]
Papaya Global appears in many lists as a promising start-up or a prominent company in various fields, including by Business Insider,[20] Dun & Bradstreet,[21] Wired [16] Inc.,[22] TechRepublic,[23] [24] Visa Inc.,[25] Deloitte and Gartner,[7] In Israel by Calcalist in 2018, [26] 2019 [27] and 2020;[28] and Globes.[29] It was chosen by Forbes as one of the 100 cloud companies in 2021 [30] and 2022, [31] and is included in CNBC list of top 25 enterprise startups powering the economy in 2022 [32] and as one of the 10 most innovative companies in EMEA in 2023 by Fast Company. [33]
See also[edit]
References[edit]
- ↑ HR Tech Awards 2022: Winners Announced, CNBC, May 18, 2022
- ↑ team, company's site
- ↑ 3 of Fortune’s Most Powerful Women in Startups are Israeli, ISRAEL21c, October 20, 2022
- ↑ company’s profile, CB Insights
- ↑ "The Cloud 100. Forbes".
- ↑ Payroll Startup Papaya Global Raises $3 Million, Calcalist, October 3, 2018
- ↑ 7.0 7.1 Israeli payroll co Papaya Global raises $45m, Globes, November 5, 2019
- ↑ 8.0 8.1 This Israeli Tech Firm Is Making Sure Workers Worldwide Get Paid Despite Coronavirus, Haaretz, September 30, 2020.
- ↑ Meet The Israeli Unicorn That Has Raised 75% Of Its Funding In The Last Six Months, Forbes, March 4, 2021
- ↑ Papaya Global raises $250m at $3.7b valuation, Globes, September 11, 2021
- ↑ Papaya Global Teams Up With J.P. Morgan to Deliver Global Payroll Payments at Remarkable Speed, PR Newswire, October 25, 2022
- ↑ Papaya acquires Israeli Startup NickNack for streamlining telework, TheMarker, November 18, 2021
- ↑ Papaya Global to buy Azimo for $150M-$200M to expand its payroll payments to more markets, TechCrunch, March 29, 2022
- ↑ Group 11 Joins Papaya Global as a Strategic Investor, Calcalist, June 1, 2020
- ↑ Papaya Global raises $100M more at a $1B+ valuation for tools to hire, pay and manage distributed workforces, TechCrunch, March 4, 2021
- ↑ 16.0 16.1 The hottest startups in Tel Aviv, Wired, August 9, 2021
- ↑ Papaya Global buys UK payments co Azimo, Globes, March 28, 2022,
- ↑ Papaya Global Teams Up With J.P. Morgan to Deliver Global Payroll Payments at Remarkable Speed
- ↑ The 8 best international payroll services for 2023, TechRepublic, December 19, 2022
- ↑ 72 Startups that will bloom in 2002, Business Insider
- ↑ Best centaurs companies to work for, Dun & Bradstreet
- ↑ Power Partner Awards 2022, Inc.
- ↑ The best QuickBooks Payroll alternatives for 2023, TechRepublic, December 19, 2022
- ↑ The 8 best international payroll services for 2023, TechRepublic, January 4, 2023
- ↑ Visa Everywhere Initiative (VEI)
- ↑ Papaya Global is the winner in Calcalist's startup competition, Calcalist, October 29, 2018,
- ↑ Top 50 Israeli Startups - 2019 Edition, Calcalist, May 10, 2019
- ↑ 50 Most Promising Israeli Startups 2020 - Covid-19 Edition, April 28, 2020
- ↑ "Globes" startup of the year: DriveNets - challenging Cisco and Juniper, Globes, 3 December 2019
- ↑ Papaya Global makes 2021 Forbes Cloud 100, Israel Hayom, November 8, 2021
- ↑ The Cloud 100
- ↑ These are the top 25 enterprise technology startups powering the economy, CNBC, November 7, 2022
- ↑ The 10 most innovative companies in Europe, the Middle East, and Africa in 2023, Fast Company, March 3, 2023
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