CloudPay announced a new $58 million round of capital led by The Olayan Group, along with existing investors Pinnacle Investment Partners, Rho Capital Partners, and others. The funds will support CloudPay’s continued growth as the leading global provider of employee pay solutions that unify global payroll systems and align with a consumer-grade experience for employees.
Tax withholdings, local tax reporting and compliance, and internal operations and reporting stand out as challenges for those employers with a globally distributed workforce. And today, especially as we look to emerge from COVID, employers can now have teams, offices, or lone employees working from anywhere.
CloudPay provides global payroll and on-demand pay solutions in 130+ countries. Over 1500 multinational companies trust CloudPay with their global pay initiatives.
Paul Bartlett, CloudPay’s CEO, discussed the recent funding with WorkTech Founder George LaRocque. Along with the details of the deal, they discuss CloudPay’s model and trends impacting global payroll today.
$7.6 billion was invested globally in work and HR technology during H1 2021, with $4.9 billion in Q2 2021 alone. Get all of the details as a free WorkTech Market Insider in our quarterly report.
Enjoy the discussion!