- Funding Details:
- CloudPay secured $120 million in a funding round led by Blue Owl Capital, with additional participation from previous investors Hollyport Capital, Rho Capital Partner, and The Olayan Group.
- Company Background:
- Founded in 1996, CloudPay provides global payroll and payment solutions, connecting all employee pay processes through a unified platform.
- Global Reach:
- The company serves over 280 corporate clients across 130 countries and has a global workforce of more than 1,350 employees.
- Use of Funds:
- The funds will be used to enhance customer offerings, boost process automation, improve data management, and upgrade connectivity through API solutions that link partners within CloudPay’s global payroll, payment, and HCM ecosystem.
- Previous Funding:
- This latest funding round follows a $50 million round in 2022 led by Runway Growth Capital and The Olayan Group.
- Market Outlook:
- CEO Roland Folz highlighted the growth opportunities in the global payroll market, with CloudPay aiming to further invest in solutions for global organizations and their employees.
