CloudPay, an independent provider of global payroll and payment solutions, has successfully closed a $120 million funding round. The investment was led by Blue Owl Capital, with notable participation from existing shareholders Rho Capital Partners, The Olayan Group, and Hollyport Capital. This infusion of capital is set to bolster CloudPay’s financial position and provide enhanced flexibility for future growth opportunities.
Strengthening Global Capabilities
With a robust 30-year track record, CloudPay serves over 280 corporate clients across more than 130 countries. The new funding will be used to enhance CloudPay’s customer product and technology solutions. Key areas of focus include integrating artificial intelligence for better data management, automating and scaling processes, and improving connectivity through a comprehensive suite of API solutions. These advancements will support CloudPay’s global payroll, payment, and human capital management (HCM) ecosystem.
CEO and Investor Perspectives
Dr. Roland Folz, CEO of CloudPay, expressed enthusiasm about the funding, stating, “Global payroll is a growing market with immense opportunities. This funding provides us with the flexibility to accelerate our growth and continue investing in our advanced solutions for global organizations and their employees.” Kurt Tenenbaum, Managing Director and Co-Head of the Menlo Park Office at Blue Owl Capital, highlighted their confidence in CloudPay’s growth and leadership, noting, “We are excited about CloudPay’s future and proud to support their long-term growth strategy.”
Company Milestones and Recognition
This funding round represents a significant milestone in CloudPay’s history. The company has expanded its global workforce to over 1,350 employees, delivering accurate and timely payroll services across 130 countries. CloudPay has achieved impressive annual growth rates, surpassing market averages. Recent accolades include being named a Major Contender (Global) and Star Performer (EMEA) in the Everest Group Multi-Country Payroll Solutions PEAK Matrix Assessment 2023. Additionally, CloudPay received GOLD and SILVER awards in various categories at the 2024 GLOBEE® Disruptor Awards.
