CloudPay, a prominent provider of global payroll and payment solutions, has announced the successful conclusion of a $120 million funding round. The round was led by Blue Owl Capital, with existing shareholders Rho Capital Partners, The Olayan Group, and Hollyport Capital contributing. The funding will strengthen CloudPay's capital base and facilitate future development prospects.
In 130 countries, CloudPay manages payroll and payment solutions for over 280 corporate clients, a testament to its 30-year success. By implementing AI in data management, automating processes, and enhancing API connectivity within its global payroll, payment, and HCM ecosystem, the funding will be utilized to improve customer products and technology.
Dr. Roland Folz, CEO of CloudPay, stated, “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 organizations and their employees worldwide.” CloudPay has seen remarkable development, expanding its workforce to more than 1,350 employees and consistently achieving annual growth that exceeds the market.
