The news follows the company’s recent valuation at USD 3.7 billion after it raised an additional USD 250 million in a Series D funding round. The latest funding round of the Israeli company was led by venture capital company Insight Partners, with the participation of Tiger Global and other former investors, including IVP, Workday Ventures, and Scale Venture Partners.
Papaya’s global SaaS software system helps companies manage various tasks, including onboarding, payroll, and payments, through a simple, integrated platform. It also delivers automated cloud-based payroll and global payment solutions and operates in over 150 countries worldwide.
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