Papaya Global, a Tel Aviv, Israel and New York-based workforce management platform, raised $250m in Series D funding.
The round, which brought the valuation to $3.7 billion and total funding to date to $440m, was led by Insight Partners and joined by Tiger Global, with participation from existing investors Greenoaks Capital, IVP, Scale Venture Partners, Bessemer Venture Partners, Alkeon Capital, Workday Ventures, Access Industries and Group 11.
The company intends to use the funds to expand operations and its business reach.
Co-founded by Eynat Guez, CEO, Ruben Drong, CPO and Ofer Herman, CTO, Papaya provides a SaaS based global people management platform for managing and paying all types of global workers, from onboarding to payments, in over 140 countries.
The company has also revealed a new capability – a full DEI dashboard to support social responsibility. The new HR DEI dashboard tracks essential KPIs such as fair pay, gender distribution, retention, attrition and age distribution. It provides the statistics companies need to measure their progress and display their success in areas of social impact.
The platform integrates with all existing HRIS management tools, provides real-time business intelligence, gathers all employee information into one place, creating a system for tracking payroll spending. The system ensures GDPR and SOC compliance to maintain the highest standard of security.
Papaya’s team currently spans Tel Aviv, New York, Austin, London, Kiev, Singapore and Melbourne.