Papaya Global Strengths, Domain Expertise, and Key Differentiators
Papaya is a SaaS platform that connects corporate clients with global suppliers through technology and automated processes and eliminates the need for global MSP's and aggregators. Papaya currently covers 100 countries offering the following services: Employee leasing, Payroll, Immigration, Recruitment, Outsourcing and HR Administration. Papaya is passionate about maximizing efficiency and value for global organizations.
Papaya Global Recent Developments
Papaya launched global equity and contractor management features. The offering launched in June 2020, and the new features let clients: Provide any type of equity plan for global employees; Overcome compliance gaps in global equity plan; Hire contractors without risk of misclassification; Validate and pay contractor invoices automatically in different languages, currencies, and formats.
Papaya Global Mergers and acquisitions (M&A) Activities
In July 2020, Papaya Global acquired the HRIS platform Mensch's intellectual property. The acquisition strengthens Papaya's end-to-end global workforce management offering – from hiring and onboarding to payroll processing and cross-border payment – and adds new tools to manage and engage with global teams.
Papaya Global Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Papaya Global 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 Papaya Global 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 Papaya Platform customers.
Papaya Global Overview
Ownership: - x
Number of Employees: 300
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K125, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Papaya Global Key Cloud and HCM Applications
Papaya Global HCM and Cloud HCM Applications Revenues, $M:
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|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** 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.
Papaya Global Revenue Breakdown by Type:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Papaya Global HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2021 HCM Revenues, By Sub-Functional Markets, $M
Papaya Global HCM Applications Revenues By Verticals, $M:
Papaya Global Total and HCM Applications Revenues by Region:
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 HCM Applications Revenues, $M|
Papaya Global Direct vs Indirect sales
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Papaya Global Customers - Breakdown by Geo, Size, Vertical and Product
No. of Papaya Global Customers: 500
No. of Papaya Global HCM Applications Customers: 500
No. of Papaya Global Cloud HCM Customers: 500
No. of Papaya Global Cloud HCM Subscribers: x
Papaya Global has more than 500 customers and provides its service in 100 countries. Among Papaya Global customers are Facebook, Nasdaq, Meridium, D+H, Visa, Nice, PaloAlto Networks, CyberArk, FUNDAPPS, Bright Machines, Teach for All, Rubrik, and others.
Papaya Global Market Opportunities, M&A and Geo Expansions
In September 2021, Papaya Global raised $250 million in Series D funding, bringing the company’s valuation to $3.7 billion and Papaya’s total funding to date to $440 million. The new funding round was led by New York-based global private equity and venture capital firm Insight Partners and joined by Tiger Global, with participation from existing investors Greenoaks Capital, IVP, Scale Venture Partners, Bessemer Venture Partners, Alkeon Capital, Workday Ventures, Access Industries and Group 11.
In March 2021, Papaya Global raised $100 million in 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.
In June 2020, Group 11, US-based fintech joined the company's investors. The investment was carried out through the purchase of secondary stock valued at $5 million from existing shareholders.
In October 2019, raised $45 million from Insight and co-investors Bessemer Venture Partners, New Era Ventures and Dynamic Loop. The funding helped Papaya Global to expand into the North American market, make more hires, and launch new products.
In October 2018 payroll management startup Papaya Global unveiled the completion of a $3 million funding round led by New Era Ventures. Venture capitalist Sir Ronald Cohen also participated in the round. Companies that are growing and plan to expand globally. Papaya Global connects these companies with qualified service providers around the world through our global workforce management platform.
Papaya Global Risks and Challenges
Papaya Global aims to solve a complex problem, managing an international workforce across labor laws, time zones and languages. Companies generally use local payroll providers, which may use different systems and languages, making it tricky to ensure that employees get paid the right amount at the right time
Papaya Global Ecosystem, Partners, Resellers and SI
In August 2021, VensureHR, the human resources consulting and support division of Vensure Employer Services partnered with Papaya Global. This partnership helps support VensureHR’s global initiative to streamline essential business tasks, minimize business-related threats, and provide cost-effective, high-quality employee benefits solutions with reduced workers’ compensation-associated costs.
A direct connection between local suppliers and global corporations with one point of contact and one contract.
Papaya Global Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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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).
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