Dailypay Strengths, Domain Expertise, and Key Differentiators
DailyPay distinguishes itself through its innovative features, such as the groundbreaking 'Shifts Worked' tab, released in October 2022. This feature, aligned with the popular 'Pay Balance' function, provides users a transparent breakdown of earnings per shift, enhancing financial insight for hourly workers. The company's commitment to fostering financial transparency and AI and ML technologies contributes to its domain expertise in reshaping traditional payroll processes. With a client roster including Fortune 500 companies like Hilton and Target, DailyPay's strength lies in its comprehensive product portfolio, supporting features like bill pay, investing, and more within its digital wallet solution.
Dailypay Recent Developments
In a recent announcement on January 24, 2023, DailyPay, a financial technology company, revealed a significant financial boost by securing $260 million in capital. This strategic move is aimed at fostering growth domestically, expanding internationally, and driving further innovation in its product offerings. The funding, comprising revolving credit facility capacity from Barclays and Angelo Gordon, along with term loan funding from SVB Capital and Neuberger Berman, follows the company's initial $300 million revolving credit facility announced in March 2022. Under the leadership of CEO Kevin Coop, who joined five months prior, DailyPay has experienced substantial client growth and meaningful revenue increase, reaffirming its position as a market leader in on-demand pay solutions.
Dailypay Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Dailypay applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Dailypay and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Payex Plaftorm customers.
Dailypay Overview
55 Water Street
New York, NY, 10041, United States
1 888-991-3646
https://www.dailypay.com/
Ownership: - x
Number of Employees: 500
Functional Markets: HCM,
Key Verticals: Distribution, Healthcare, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Professional Services, Retail, Transportation,
Dailypay Key Enterprise and Cloud Applications
Payex Plaftorm
Dailypay Revenues, $M:
Type/Year | 2022 | 2023 | YoY Growth, % |
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Total Revenues, $M | Subscribe | Subscribe | Subscribe |
Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Dailypay Revenue Breakdown By Type, $M:
Dailypay Enterprise Applications Revenues By Functional Markets, $M:
Dailypay Enterprise Applications Revenues By Verticals, $M:
Dailypay Revenues By Region, $M
Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
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Americas | Subscribe | Subscribe | Subscribe | Subscribe |
EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
APAC | Subscribe | Subscribe | Subscribe | Subscribe |
Total | Subscribe | Subscribe | Subscribe | Subscribe |
Dailypay Direct vs Indirect sales
Region | Direct Sales | Indirect Sales | Total |
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Type % | Subscribe | Subscribe | Subscribe |
Revenues, $M | Subscribe | Subscribe | Subscribe |
Dailypay Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Dailypay Customers
No. of Dailypay Customers: 200
No. of Dailypay Enterprise Applications Customers: 200
No. of Dailypay Cloud Customers: 200
No. of Dailypay Cloud Subscribers: 2000000
DailyPay collaborates with various clients, including Vera Bradley, Westgate Resorts, and Kroger. The company's modern pay strategies resonate across industries, from hospitality (Westgate Resorts) to retail (Target) and healthcare (Christian Horizons). The extensive client list showcases DailyPay's appeal across various regions and industries, reinforcing its position as a versatile financial technology solution.
Dailypay Market Opportunities, M&A and Geo Expansions
Opportunities abound for DailyPay, particularly in the horizontal and vertical market spaces. The company's focus on embracing Cloud, IoT, AI, and ML technologies positions it at the forefront of financial innovation. As businesses increasingly prioritize digital payroll solutions, DailyPay's expansion into new regions, both domestically and internationally, aligns with the growing demand for real-time financial services.
Dailypay Risks and Challenges
Despite its successes, DailyPay faces inherent risks, including internal challenges associated with funding payments for employees and potential exposure if employees are let go. Managing these risks requires a careful balance in funding and mitigating losses in case of employee turnover. External risks involve go-to-market challenges, as the company navigates a competitive landscape and adapts to evolving industry regulations.
Dailypay Ecosystem, Partners, Resellers and SI
DailyPay's ecosystem is fortified by strategic technology integrations, such as joining the Kronos Workforce Dimensions Technology Partner Network. This partnership allows seamless data sharing, enabling DailyPay to calculate available balances and facilitate instant fund transfers. As the company expands its operations with a new Minneapolis office and local hires, its growing ecosystem positions DailyPay as a key player in reshaping workforce management and financial wellness.
Dailypay Cloud Infrastructure Insights
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- Dailypay Public Cloud and Infrastructure (IaaS)
- Dailypay Platform (PaaS)
- Dailypay Application Delivery
- Dailypay Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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