Papaya Global, the industry-leading workforce management platform transforming global employment, announced today that it has raised $100 million in a Series C funding, bringing the company’s valuation across $1 billion. The new investment follows Papaya’s $40 million Series B funding announced less than 6 months ago. The new funding round was led by GreenOaks Capital Partners and joined by IVP Ventures and Alkeon, with participation from existing investors Insight Venture Partners, Scale Ventures, Bessemer Ventures, Dynamic Loop, New Era and Workday Ventures, Access Ventures and Group 11. The new investment brings Papaya’s total funding to $190 million.
“We made a bold prediction in 2016 that Papaya’s technology would emerge as the most significant innovation for the global workforce and that we would become a standard for workforce management, just as ERP has in finance,” said Papaya’s CEO and Co-founder, Eynat Guez. “The market has proven that prediction was correct.”
“With companies switching to remote work and compliance becoming increasingly complex, we are seeing substantial demand for Papaya’s solution, even in a challenging business environment,” Ms. Guez added.