Papaya Global raises $100m at unicorn valuation

Papaya Global  / Photo: Eyal Izhar, Globes
Papaya Global / Photo: Eyal Izhar, Globes

The Israeli company's platform creates an automated process to solve the complexity of payroll data management.

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 CEO Einat Guez said the company had no plans to raise more money. She said, "My aim was to expand the company and get on with business and not look for investors or raise money. But GreenOaks contacted us and said that they had done market research on us, which I really liked, and they spoke about the importance of our field in the new world of work and presented us as the market leaders. They also gave us an offer we couldn't refuse."

The company has 200 employees including 100 in Israel and plans to more than double the workforce to 500 by the end of the year.

Papaya Global was founded in 2016 by Guez, CTO Ofer Herman and CPO Ruben Drong and was chosen of one of "Globes" top ten most promising startups in 2019.

Papaya’s platform creates an automated process to solve the complexity of payroll data management. It meets the highest privacy standards and security regulations (GDPR, ISO, SOC) and increases employee engagement within organizations.

Published by Globes, Israel business news - en.globes.co.il - on March 4, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Papaya Global  / Photo: Eyal Izhar, Globes
Papaya Global / Photo: Eyal Izhar, Globes
British Airways aircraft  credit: Shutterstock/Jarek Kilian Tel Aviv - London fares to fall as British Airways resumes flights

From June there will be 20-32 weekly flights operated on the popular Tel Aviv - London route by foreign airlines - British Airways, Wizz Air and easyJet.

Partner Partner forms int'l business diivision

The division will be headed by former Bezeq International VP Global Business Nissan Arieh.

Caesarstone kitchen credit: Caesarstone Caesarstone bucks Nasdaq as tariffs boost potential

The Israeli quartz countertop manufacturer company has fallen on hard times due to Chinese rivalry but tariffs could boost its revenue.

ZIM ship credit: ZIM Trump's tariffs torpedo ZIM's share price

ZIM's share price fell 16.4% on Wall Street on Thursday and a further 7.2% on Friday, closing with a market cap of $1.5 billion, wiping out all its gains in 2025.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Holon, Rehovot, Kiryat Tivon, Shlomi and Beersheva.

THAAD anti missile system credit: The US Army Ralph Scott Wikimedia US deploys more THAAD, Patriot batteries in Israel - report

Amid rising regional tensions the US is bolstering Israel's air defense, Saudi state-owned TV channel Al Arabiya reports.

Tel Aviv Stock Exchange credit: Shutterstock TASE tumbles in Wall Street's wake

Dual-listed stocks have again been hard hit, but the banks are also down sharply.

Donald Trump and Benjamin Netanyahu credit: Avi Ohayon Netanyahu due in Washington to discuss tariffs

According to news website Axios, Prime Minister Benjamin Netanyahu will be the first leader to meet President Trump after the latter's announcement of sweeping import tariffs.

Yoni Assia CEO eToro Credit: PR eToro defers IPO amid market turmoil

The online trading platform had planned to begin meetings with investors this week.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef Smotrich meets wrong man in Washington

Minister of Finance Bezalel Smotrich tried to persuade Secretary of the Treasury Scott Bessent to soften the tariff blow on Israel - only Bessent isn't responsible for the matter.

Unframe founders credit: Yossi Yarom Israeli AI enterprise platform co Unframe raises $50m

Unframe’s turnkey AI solutions enable companies to solve any enterprise AI use case at scale with fully functional, customized AI solutions for businesses in a matter of hours, rather than months.

Combatica credit: Combatica Combatica launches next-gen VR AI training platform

The Israeli company's virtual reality platform includes 50 AI generated scenarios, seven maps and even situations for operating night vision.

Shekel credit: Shutterstock Vladirina 32 Shekel volatility after US tariffs announcement

The shekel is weakening sharply against the euro, which is gaining following the unveiling of Donald Trump's tariffs plan.

Minister of Finance Bezalel Smotrich credit: Noam Moskovitz Knesset Spokesperson Treasury assesses potential damage to Israel's US exports

Israel will be charged a higher tariff on its exports to the US - its biggest export customer - than Turkey and the UAE.

Iranian flag credit: Shutterstock Why inflation haunts Iran

With a month-on-month increase of 3.3% and an annual rate of 37.1%, inflation reflects the struggles of millions of Iranians.

APM merges with lawyers from Doron, Tikotzky Kantor, Gutman credit: Eyal Merilos APM merges with 12 lawyers from Doron, Tikotzky Kantor, Gutman

With the addition of these 12 lawyers, Amit Pollak Matalon & Co. will now have 135 lawyers.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018