The funding helps bring Papaya Global to a $3.7B valuation. Here are the top-line bullets you need to know.
Papaya Global, a workforce management platform, raised $250M in a Series D. The round drew participation from Insight Partners, Greenoaks Capital Management, and Bessemer Venture Partners, among others.
How’s the company performing?
- Israel-based Papaya Global offers end-to-end workforce management solutions for managing global workforces and international payrolls. It controls and monitors all client data to prevent data breaches, provides real-time business intelligence, and integrates with the existing human resource information system (HRIS) tools. Its platform is also SOC- and GDPR-compliant.
- The company recently introduced a technology solution — Total Payroll — that allows all global payroll activities to be managed via a single panel.
- The company has recorded 300%+ year-over-year revenue growth over the last 3 years.
- Papaya Global maintains a presence across 140 countries.
- Its customers include Intel, Microsoft, Johnson & Johnson, Wix.com, Toyota, and CyberArk, among others.
Source: Papaya Global
Why does the market matter?
- The global market for workforce management solutions is projected to grow at a CAGR of 9.3% to reach a value of $9.3B by 2025, according to Markets and Markets.
- The increased adoption of cloud-based workforce management solutions across verticals is driving market growth.