The Tel Aviv-based Papaya Global, which developed workforce management software that unites management tasks under a single platform, has raised $100 million in a Series C funding round, the company announced Thursday.
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The latest round brings the company's valuation to over $1 billion.
Co-founded by Eynat Guez, CEO, Ruben Drong, CPO and Ofer Herman, CTO, Papaya Global has been on a hyper-growth trajectory. The investment comes on the heels of 300% revenue growth year-over-year for each of the last 3 years and reflects strong demand for Papaya's unique offering in global workforce management.
Papaya will use the new funding to meet the strong demand for its global workforce management platform, reinforce its market leadership, and invest in its product, engineering and go-to-market teams.
"We made a bold prediction in 2016 that Papaya's technology would emerge as the most significant innovation for the global workforce and that we would become a standard for workforce management, just as ERP has in finance," said CEO Eynat Guez. "The market has proven that prediction was correct."
