Papaya Global Overview
Papaya Global provides enterprises with a global, cloud-based SaaS platform to automate payroll and workforce management; an employer-of-record solution to hire workers in over 100 countries; and technology to streamline the payroll process, eliminate errors, and reduce operating costs. The company's system gathers all employee information in one location, creating a highly visible system that is backed by local and global experts to ensure compliance with local laws and benchmarks.
Cumulative Funding Raised Over Time ($)
$2.6MJun 2016
$102.6MMar 2021
$147.6MOct 2019
$150.6MSep 2018
$190.6MSep 2020
$440.6MSep 2021
Latest News
growth-positive
Eynat Guez, CEO of Papaya Global, was speaking at the Power in Diversity conference held at Microsoft's offices in Tel Aviv; she also added, "As an Israeli company, our social agenda is just as important as our business agenda."
The article discusses the impact of the October 7th events on Israeli companies and their leaders, focusing on the Power in Diversity conference held at Microsofts offices in Tel Aviv. Eynat Guez, CEO of Papaya Global, emphasized the importance of the companys social agenda alongside its business goals. The panel included leaders from Fiverr, Minute Media, Hello Heart, and Microsoft, who shared their experiences and strategies for maintaining business operations and promoting diversity during challenging times. The discussions highlighted the importance of diversity, resilience, and the commitment to social values in the face of adversity. The event underscored the role of Israeli companies in projecting a positive image globally and the need for inclusive practices.
growth-positive
Papaya Global Announces C-Level Executive Promotions Geared to Support Growth in Enterprise Clients
Papaya Global, a workforce payroll and payments platform, has announced new C-level promotions as part of its expansion and future growth plans. Benny Vazana has been promoted to Chief Business Officer, overseeing business operations and leading strategic planning and business development. Avi Shauli has been promoted to Chief Research and Development Officer, leading the R&D, Data, and Architecture division. In addition, SVP Sales Paul Gasbarros role has been expanded to SVP Revenue, and Michal Regevs role has been expanded to VP Finance.
Management ChangesExpand
growth-positive
Israeli FinTech Papaya Global unveils workforce payments platform
Papaya Global is set to launch its first end-to-end workforce platform that executes worker payments, and will use a Super Bowl ad to showcase this. The platform, powered by AI, allows for the management of all types of workers and enables payments in local currencies anywhere in the world. The platform also provides native connectivity with existing payroll systems. Papaya Global believes that customers will demand solutions that cover them end-to-end, from payroll calculation to payment execution on one platform.
CustomersExpand
Growth-Positive
Israeli unicorn Papaya Global to unveil workforce payments platform with Super Bowl ad | CTech
Papaya Global, an Israeli fintech company, is set to unveil its workforce payments platform with a Super Bowl ad. The company has invested two years and 864,000 engineering work hours into building the platform, which handles workers payments. The ad, which is Papayas first Super Bowl appearance, will feature multiple self-bouncing ping-pong balls to represent the companys AI-powered platform. The creative team behind the ad includes Emmy Award winner Matt McCarron, Webby and Cannes Award winner Jonathan Vingiano, and Super Bowl ads veteran Alon Seifert.
CustomersInvestment
growth-positive
Papaya Global - Creating a meaningful business with major impact
Papaya Global, a payroll and payments software company based in Tel Aviv, has been named one of the most influential companies of 2023 by TIME100. The company, co-founded by Eynat Guez, has transformed international payroll and payments management with its unified platform. Papaya Global, which was founded in 2016, is the first Israeli unicorn to be founded by a woman. The company recently acquired London-based money transfer company Azimo, supporting its expansion into more markets. Despite challenges in its early years, Papaya Global has raised $450 million in the past two years.
AcquisitionExpand
| Sector | Business Software |
Funding
| Total funding | $440.6M |
| Last funding | $250M |
| Stage | D |
| Rounds | 6 |
| Investors | 15 |
Team Members
4
Employees: 500+
Web & Social Links
| Website | papayaglobal.com |
| Careers | Careers page |
Locations
HaMada St 14, Herzliya, Israel
228 Park Avenue South, New York, NY, USA
33 Hysan Ave, Causeway Bay, Hong Kong
Photos & Videos
2 item(s)
Papaya Global Business
Business models
B2B
Product stage
Released
Employees
500+
Sector
Business SoftwareOperations SolutionsHuman Resources ManagementTarget Customer
Enterprise & Professional ServicesCore Technology
Platforms & InterfacesWebTags (14)
unicorn-2021payrollenterprise-solutionslaw-enforcementpaymentshrfintechbpmenterprisessaasworkforce-managementrecruitmentgdprhr-techGeographic Markets
ArgentinaBoliviaGlobalPanamaBrazilUnited StatesParaguayGuatemalaChileUruguayPeruEcuadorHondurasEl SalvadorVenezuelaCosta RicaColombiaMexicoPapaya Global Financials
$440.6M
Total funding
Undisclosed
Capital raised
$250M
Last funding
D
Funding stage
6
Total rounds
15
Investors
Cumulative Funding Raised Over Time ($)
$2.6MJun 2016
$102.6MMar 2021
$147.6MOct 2019
$150.6MSep 2018
$190.6MSep 2020
$440.6MSep 2021
Private Equity Funding
D Round
Sep 2021
$250M
Insight Partners (Lead)
,
Group 11, IVP, Alkeon Capital Management, Access Industries, Workday Ventures, Bessemer Venture Partners, Tiger Global Management
C Round
Mar 2021
$100M
Greenoaks Capital (Lead)
,
Scale Venture Partners, Alkeon Capital Management, IVP
B Round
Sep 2020
$40M
Scale Venture Partners (Lead)
,
Dynamic Loop Capital, Insight Partners, Workday Ventures, Bessemer Venture Partners, Group 11, Claltech
A Round
Oct 2019
$45M
Insight Partners (Lead)
,
Bessemer Venture Partners, Dynamic Loop Capital, New Era Capital Partners
Seed
Sep 2018
$3M
Undisclosed Investor(s), New Era Capital Partners, Sir Ronald Cohen
Seed
Jun 2016
$2.6M
Undisclosed Investor(s)
Mergers & Acquisitions
MNAEvent
Mar 2022
$150M
MNAEvent
Nov 2021
Undisclosed
MNAEvent
Jun 2020
Undisclosed
Papaya Global Lifecycle
Cumulative Funding Raised Over Time
$2.6MJun 2016
$102.6MMar 2021
$147.6MOct 2019
$150.6MSep 2018
$190.6MSep 2020
$440.6MSep 2021
All Events
D Round
Sep 2021
$250M
Insight Partners (Lead)
,
Group 11, IVP, Alkeon Capital Management, Access Industries, Workday Ventures, Bessemer Venture Partners, Tiger Global Management
C Round
Mar 2021
$100M
Greenoaks Capital (Lead)
,
Scale Venture Partners, Alkeon Capital Management, IVP
B Round
Sep 2020
$40M
Scale Venture Partners (Lead)
,
Dynamic Loop Capital, Insight Partners, Workday Ventures, Bessemer Venture Partners, Group 11, Claltech
A Round
Oct 2019
$45M
Insight Partners (Lead)
,
Bessemer Venture Partners, Dynamic Loop Capital, New Era Capital Partners
Seed
Sep 2018
$3M
Undisclosed Investor(s), New Era Capital Partners, Sir Ronald Cohen
Seed
Jun 2016
$2.6M
Undisclosed Investor(s)
MNAEvent
Mar 2022
$150M
MNAEvent
Nov 2021
Undisclosed
MNAEvent
Jun 2020
Undisclosed
Papaya Global News
21 articles
growth-positive
Eynat Guez, CEO of Papaya Global, was speaking at the Power in Diversity conference held at Microsoft's offices in Tel Aviv; she also added, "As an Israeli company, our social agenda is just as important as our business agenda."
The article discusses the impact of the October 7th events on Israeli companies and their leaders, focusing on the Power in Diversity conference held at Microsofts offices in Tel Aviv. Eynat Guez, CEO of Papaya Global, emphasized the importance of the companys social agenda alongside its business goals. The panel included leaders from Fiverr, Minute Media, Hello Heart, and Microsoft, who shared their experiences and strategies for maintaining business operations and promoting diversity during challenging times. The discussions highlighted the importance of diversity, resilience, and the commitment to social values in the face of adversity. The event underscored the role of Israeli companies in projecting a positive image globally and the need for inclusive practices.
growth-positive
Papaya Global Announces C-Level Executive Promotions Geared to Support Growth in Enterprise Clients
Papaya Global, a workforce payroll and payments platform, has announced new C-level promotions as part of its expansion and future growth plans. Benny Vazana has been promoted to Chief Business Officer, overseeing business operations and leading strategic planning and business development. Avi Shauli has been promoted to Chief Research and Development Officer, leading the R&D, Data, and Architecture division. In addition, SVP Sales Paul Gasbarros role has been expanded to SVP Revenue, and Michal Regevs role has been expanded to VP Finance.
Management ChangesExpand
growth-positive
Israeli FinTech Papaya Global unveils workforce payments platform
Papaya Global is set to launch its first end-to-end workforce platform that executes worker payments, and will use a Super Bowl ad to showcase this. The platform, powered by AI, allows for the management of all types of workers and enables payments in local currencies anywhere in the world. The platform also provides native connectivity with existing payroll systems. Papaya Global believes that customers will demand solutions that cover them end-to-end, from payroll calculation to payment execution on one platform.
CustomersExpand
Growth-Positive
Israeli unicorn Papaya Global to unveil workforce payments platform with Super Bowl ad | CTech
Papaya Global, an Israeli fintech company, is set to unveil its workforce payments platform with a Super Bowl ad. The company has invested two years and 864,000 engineering work hours into building the platform, which handles workers payments. The ad, which is Papayas first Super Bowl appearance, will feature multiple self-bouncing ping-pong balls to represent the companys AI-powered platform. The creative team behind the ad includes Emmy Award winner Matt McCarron, Webby and Cannes Award winner Jonathan Vingiano, and Super Bowl ads veteran Alon Seifert.
CustomersInvestment
growth-positive
Papaya Global - Creating a meaningful business with major impact
Papaya Global, a payroll and payments software company based in Tel Aviv, has been named one of the most influential companies of 2023 by TIME100. The company, co-founded by Eynat Guez, has transformed international payroll and payments management with its unified platform. Papaya Global, which was founded in 2016, is the first Israeli unicorn to be founded by a woman. The company recently acquired London-based money transfer company Azimo, supporting its expansion into more markets. Despite challenges in its early years, Papaya Global has raised $450 million in the past two years.
AcquisitionExpand
growth-negative
Dovi Frances selling Papaya Global shares at 90% discount
Papaya Global CEO Eynat Guez has threatened investor Dovi Frances with a defamation lawsuit following his criticism of her in media interviews. In response, Frances has offered to sell his shares in Papaya Global for 10% of the companys recent $3.7 billion valuation. Frances accuses Guez of sabotaging efforts to sell his holdings in the company and of failing to provide necessary information about the companys activities. Group 11 initially invested in Papaya Global in 2020, purchasing 3.6% of the companys shares for $5 million.
InvestmentManagement Changes
growth-negative
Papaya Global CEO Eynat Guez issues defamation warning to investor Dovi Frances | CTech
Papaya Globals CEO, Eynat Guez, has threatened to file a defamation lawsuit against investor Dovi Frances, founder of venture capital firm Group 11. Guez is demanding a public apology from Frances for his claims that she endangered the companys funds by transferring them to the now-collapsed Silicon Valley Bank. Frances has yet to respond to the letter. Guezs letter also alleges that Frances misrepresented himself as a member of Papayas management, which he is not, and that he blamed Guezs decisions for investor losses.
InvestmentManagement Changes
growth-positive
Papaya Global Reaches Another Peak with Inclusion in CNBC's Inaugural Top Startups for the Enterprise
Papaya Global has been included in CNBCs inaugural Top Startups for Enterprise list, validating the companys commitment to exponential growth and changing the work tech landscape. The recognition comes after a month of accolades, including winning the 2022 Automation and Integration Award and being included in Forbes Cloud 100. Papaya also announced a partnership with J.P. Morgan Payments to extend international payments. The companys CEO, Eynet Guez, expressed gratitude for the recognition and stated that it signals they are on the right path. Papaya Global powers global hiring by providing people, payroll, and payment management for organizations in over 160 countries.
Partners
Growth-Positive
Papaya Global Named to 2022 Forbes Cloud 100 for Second Consecutive Year
Papaya Global, a global people management platform, has been named to the Forbes 2022 Cloud 100 list. The company, valued at over $3.7 billion, has experienced significant growth in the past year and recently acquired a money-transfer business as part of its strategy to transform its global payroll business into a next-generation payments company. The Forbes Cloud 100 list, which ranks the top private cloud companies in the world, recognized Papaya Globals growth, sales, valuation, and company culture.
CustomersAcquisitionValuation
growth-positive
Papaya Global acquiring cross-border payments service Azimo for $150-200 million CTech
Papaya Global, an Israeli workforce management company, has announced its acquisition of Azimo, a global digital cross-border payments service. The price of the purchase is estimated to be in the region of $150-200 million. The acquisition will bring Azimos 160 employees into Papayas team of 450 people. Papaya plans to use Azimos technology for its system of transferring payments between businesses and employees. The acquisition marks Papayas first major acquisition and aligns with its focus on payroll payments. Papayas valuation surged to $3.7 billion in September 2020 following a $250 million Series D funding round led by Insight Partners and joined by Tiger Global. The investment brought Papayas total funding to $440 million.
AcquisitionExpand
growth-positive
Papaya Acquires Remote Work Connectivity Platform NickNack
Papaya Global has announced the acquisition of remote work connectivity platform NickNack. This strategic acquisition enhances Papayas technology solution for hypergrowth companies facing the challenge of onboarding employees in remote locations. The acquisition comes after Papaya closed a $250 million Series D funding round in September, bringing its valuation to $3.7 billion. NickNacks CEO, Inbal Shenfeld Kolodziejska, expressed excitement about the acquisition and stated that Papaya is setting the standard for how the global workforce will be managed. The integration with Papaya will enable NickNack to deliver faster and to a greater audience.
Acquisition
growth-positive
Papaya Global raises $250m at $3.7b valuation
Israeli startup Papaya Global, a payroll platform for cross-border management of human resources and employee salaries, has tripled its valuation within six months. The company raised $250 million at a valuation of $3.7 billion, making it the highest valuation player in the payroll management solutions sector. Papaya Global plans to reach an annual recurring revenue of $100 million in 2021 and is considering an IPO within the next 24 months. Its customers include Microsoft, Toyota, Wix, and Intel. The fintech startup sector in Israel is currently thriving.
Investment
growth-positive
Papaya Global raises $100m at unicorn valuation
Israeli payroll solutions company Papaya Global has announced a $100 Series C financing round at a company valuation of over $1 billion. The financing was led by GreenOaks Capital Partners together with new investors IVP and Alkeon Capital and existing investors including Insight Venture Partners, Bessemer Venture capital, Group 11 and Scale Venture Capital. The company has now raised $195 million, after raising $40 million last September. Papaya Global plans to double its workforce to 500 employees by the end of the year.
Investment
Avoiding The Missteps Of International Payroll
growth-positive
Papaya Global raises $40M for a payroll and HR platform aimed at global workforces
Israeli startup Papaya Global has raised $40 million in a Series B funding round led by Scale Venture Partners. The company provides cloud-based payroll and HR services for organizations with global workforces. The funding comes after Papaya Global experienced significant growth in the past year, driven by the COVID-19 pandemic and the need for companies to manage their remote workers effectively. The company has raised a total of $95 million to date and has seen a 300% annual growth rate since 2016. Papaya Globals customers include fast-growing startups and major corporates such as Toyota, Microsoft, and Wix.
Investment
growth-positive
Papaya Global looks to help ventures leverage a global workforce
Papaya Global, a global workforce management platform, aims to help companies navigate the challenges of cross-border hiring and manage distributed teams. The platform addresses compliance concerns, streamlines hiring and onboarding processes, provides management dashboards, and offers flexible payment options. By using Papaya Global, companies can confidently engage workers around the world and focus on hiring and working with the best talent available. The company currently has over $1.3 billion in payroll under management and is used by more than 300 companies in over 100 countries worldwide.
CustomersExpand
growth-positive
Payroll and workforce management tool Papaya acquires HRIS platform Mensch
Papaya Global Ltd. has acquired Israeli HRIS platform Mensch, Inc., resulting in an increased end-to-end management offering for global teams. The acquisition allows Papaya to provide services from the hiring and onboarding process to payroll processing and cross-border payment. The merger of the platforms was described as a perfect match by Papaya Global CEO and co-founder Eynat Guez. The acquisition amount was not disclosed. All of Menschs employees will join Papayas team.
Acquisition
growth-positive
Group 11 Joins Papaya Global as a Strategic Investor
Papaya Global has announced that Group 11, a fintech VC led by Dovi Frances, has joined the companys investors. The investment was made through the purchase of secondary stock valued at $5 million. Papaya Global provides global payroll and payment solutions and aims to automate the global payroll process. The companys platform is used by various globally-focused companies, and it plans to triple its growth this year in terms of clients, revenues, and employees globally. Dovi Frances will also join the companys board of directors.
Investment
growth-positive
"As the Crisis Entrenches, We're Showing Companies Where They Can Afford to Make Cuts"
Papaya Global, a payroll and workforce management tools company, is addressing the logistical problems faced by international companies due to the Covid-19 crisis. The companys technology helps manage wages and employment data for remote employees in different countries, streamlining the process and ensuring compliance with local laws and regulations. Papaya Globals system also provides data protection and insights on wage discrimination. The company has clients such as Checkmarx, Fiverr, CyberArk Software, Wix.com, Unilever, Toyota, and Github. Papaya Global has set up a dedicated newsroom for Covid-19 crisis information and has transitioned to remote work practices without laying off employees or cutting salaries.
CustomersPartners
growth-positive
Israeli payroll co Papaya Global raises $45m
Israeli payroll and payment management platform Papaya Global has completed a $45 million financing round led by Insight Partners. The funding will be used to support the companys rapid growth, invest more in scaling and automation, and launch new products. Papaya Global aims to reinvent the global payroll and payment industries and is emerging as the biggest SaaS platform capable of supporting all types of workers. The platform covers 100 countries and all aspects of employment, from onboarding to cross-border payments. Papayas technology has been recognized as disruptive in the field of global payroll and payments.
InvestmentExpand
growth-positive
Payroll Startup Papaya Global Raises $3 Million
Payroll management startup Papaya Global has completed a $3 million funding round led by New Era Ventures, with participation from Sir Ronald Cohen. The company plans to use the additional funding to grow its development and sales teams. Papaya Global offers a system that automates payroll processing and labor law compliance, and currently serves 150 clients globally, including Johnson & Johnson, Facebook, and General Electric. Founded in 2016, Papaya Global is headquartered in Tel Aviv and has additional offices in New York, China, and Australia.
InvestmentExpand
Papaya Global Team
Employee Info
| Employees (range) | 500+ |
| Exact count | 791 |
| Team members | 4 |
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Papaya Global Internal
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Admin Info
| Confidence | 101/100 |
| Missing | markets |
| BI Verification | Jenny Sotnik-Talisman |
| Registrar ID | 515433167 |
| Crunchbase | papaya-global |
| Last updater | Jenny Sotnik-Talisman |
| Updater email | jenny.sotnik@sncentral.org |
| Last update | 2023-05-21T00:00:00.000Z |
| Created | 2016-04-17T00:00:00.000Z |
| Claimed | Yes |