CloudPay, a leading provider of global payroll and payment solutions, has secured $120 million in its latest funding round. Blue Owl Capital led this investment, with additional contributions from Rho Capital Partners, The Olayan Group, and Hollyport Capital. This funding will strengthen CloudPay’s capital base and support its growth and innovation plans.
Enhancing Product and Technology Solutions
CloudPay boasts a successful 30-year track record, serving over 280 corporate clients in more than 130 countries. This funding will enable the company to upgrade its product and technology solutions. Key areas of focus include integrating advanced artificial intelligence (AI) for data management, automating processes, and expanding connectivity with a comprehensive set of API solutions. These upgrades will enhance CloudPay’s global payroll, payment, and human capital management (HCM) ecosystem, providing even better services to clients.
Accelerating Growth and Innovation
Dr. Roland Folz, CEO of CloudPay, stated: “This investment provides us with the flexibility to speed up our growth trajectory. Our enhanced payroll and payment solutions will meet the evolving needs of our global clients. With Blue Owl Capital’s support, we can continue to invest in cutting-edge technologies and deliver exceptional value to organisations and their employees worldwide.”
Support from Blue Owl Capital
Kurt Tenenbaum, Managing Director and Co-Head of the Menlo Park Office at Blue Owl Capital, commented: “CloudPay’s impressive growth, experienced leadership, and dedication to customer satisfaction have truly impressed us. We are excited to support CloudPay’s long-term growth strategy. This investment represents a significant milestone and demonstrates our confidence in CloudPay’s future.”
Company Milestones and Achievements
This funding round marks a key milestone for CloudPay. The company now employs over 1,350 staff globally, ensuring accurate and timely payroll services in more than 130 countries. CloudPay’s annual growth consistently exceeds market averages. Recent recognitions include being named a Major Contender (Global) and Star Performer (EMEA) in the Everest Group Multi-Country Payroll (MCP) Solutions PEAK Matrix Assessment 2023. CloudPay also earned a Top 3 Leader position in the Quadrant Knowledge Solutions 2023 SPARK Matrix. At the 2024 GLOBEE® Disruptor Awards, the company received GOLD in the Emerging FinTech and Payment Solution Disruptors categories, and SILVER in FinTech, Financial Services, Payments, and Banking Disruptors.
Future
With this substantial new funding, CloudPay is well-positioned to advance its mission of delivering superior global payroll and payment solutions. The company remains committed to leveraging its technological advancements and expertise to meet the needs of its clients worldwide. As CloudPay expands its capabilities, it will continue focusing on providing outstanding service and innovative solutions to its growing global customer base.
