CloudPay, a leading independent provider of global payroll and payment solutions, has announced the successful completion of a $120 million funding round. The investment was led by Blue Owl Capital, with significant contributions from existing shareholders Rho Capital Partners, The Olayan Group, and Hollyport Capital. This substantial funding boost will further fortify CloudPay’s capital base and fuel its expansion and innovation efforts.
With a remarkable 30-year track record, CloudPay serves over 280 corporate clients across more than 130 countries. The latest investment will enhance its technological capabilities, including the deployment of AI for advanced data management, process automation, and improved API connectivity within its global payroll and payment ecosystem. The company’s growth will also be supported by strengthened customer product solutions and expanded technological infrastructure.
Dr. Roland Folz, CEO of CloudPay, expressed his enthusiasm about the new funding, stating, “The global payroll sector presents tremendous opportunities for growth, and this investment allows us to accelerate our strategic objectives. Our commitment to delivering cutting-edge payroll and payment solutions aligns seamlessly with our global clientele’s needs. With the support of Blue Owl Capital, we are poised to enhance our state-of-the-art solutions and support organizations worldwide.”
Kurt Tenenbaum, Managing Director and Co-Head of Blue Owl Capital’s Menlo Park Office, added, “CloudPay’s impressive growth trajectory and its seasoned international leadership team have made a strong impact. We are excited to support CloudPay’s ambitious growth strategy and look forward to seeing their continued success in revolutionizing global payroll solutions.”
Editorial Insight
CloudPay’s latest funding milestone underscores the company’s pivotal role in the rapidly evolving payroll and payment industry. As global businesses seek streamlined and efficient payroll management solutions, CloudPay’s integrated approach offers a compelling value proposition. The strategic deployment of AI and advanced technologies positions CloudPay at the forefront of payroll innovation, driving significant operational efficiencies for multinational organizations.
The investment from Blue Owl Capital and other key stakeholders reflects confidence in CloudPay’s ability to lead the market in transforming payroll processes. By leveraging this new capital to enhance its technology and expand its offerings, CloudPay is well-positioned to capitalize on the growing demand for sophisticated global payroll solutions. The company’s ongoing commitment to excellence and innovation signals a bright future as it continues to set new standards in the industry.
For further inquiries or corrections, please contact editor@thetimesmag.com.
