Payroll Startup Papaya Global Raises $3 Million

Payroll management startup Papaya Global Ltd. announced Wednesday the completion of a $3 million funding round led by New Era Ventures. Venture capitalist Sir Ronald Cohen also participated in the round. To date, Papaya Global raised $4.5 million, according to Pitchbook data. In a statement, the company said it will use the additional funding to grow its development and sales teams.

Papaya Global offers a system that automates payroll processing, labor law compliance, and other aspects otherwise handled by human resources departments. Papaya reports 150 clients globally, including Johnson & Johnson, Facebook, and General Electric. Founded in 2016, Papaya Global is headquartered in Tel Aviv and has additional offices in New York, China, and Australia.