Payroll software provider OnPay raises over $100m in new funding
OnPay, a US-based payroll and HR software provider, is set to expand its suite of payroll, HR and benefits solutions after securing more than $100 million in fresh funding.
OnPay raises $63m Series B and debt facility
The funding includes $63 million in Series B equity financing and a debt facility with MC Credit Partners.
Carrick Capital Partners led the funding round, and was supported by AB Private Credit Investors and other unnamed existing investors.
Headquartered in Atlanta, OnPay provides modern payroll and HR solutions that equip small and mid-sized businesses across the US to manage compliance, streamline operations, and support their teams.
In a statement regarding the raise, OnPay says the funding will enable it to “scale its capabilities, further invest in product development, expand partnerships and integrations, augment customer success teams, and accelerate its go-to-market strategy”.
