CloudPay, a leading independent provider of global payroll and payment solutions, announced the closing of a $120 million funding round led by Blue Owl Capital with the participation of existing shareholders Rho Capital Partners, The Olayan Group and Hollyport Capital. This funding strengthens CloudPay’s capital base and provides flexibility for future growth opportunities.
Over the last 30 years, CloudPay has built a world-class customer base, collaborating with over 280 corporate clients and taking care of their payroll and payment needs in more than 130 countries. And the funding will enable the strengthening of the customer product and technology solutions like deploying AI within data management, automating and scaling of processes, and improving connectivity via a comprehensive set of API solutions connecting the partners of its global payroll, payment and HCM ecosystem.
This funding round marks another major milestone in the company’s long history. CloudPay has now expanded its workforce to over 1,350 employees globally to deliver accurate, on-time pay to employees across more than 130 countries. CloudPay has consistently achieved an annual growth rate well in excess of the market average.
KEY QUOTES:
“Global payroll is a growing market providing tremendous opportunities for CloudPay and this funding gives us the flexibility to accelerate our journey. Our focus on payroll and payment offerings resonates very well with our esteemed global clientele. With the support of Blue Owl Capital, we are strengthening our capital base while continuing to invest in our state-of-the-art solutions for global organisations and their employees worldwide.”
- Dr. Roland Folz, CEO of CloudPay
“We have been impressed with CloudPay’s growth, experienced international leadership team, and customer commitment. We are excited about what the future holds for CloudPay and are proud to support their long-term growth strategy.”
Kurt Tenenbaum, Managing Director, Co-Head Menlo Park Office from Blue Owl Capital
