CloudPay Secures $25 Million in New Capital

Global payroll technology leader and services provider CloudPay raised an additional investment of $25 million in capital from Rho Ventures, Pinnacle Investment Partners, and Hercules Capital.

The payroll company aims to respond to the need for centralized global payroll that can boost the performance of multinational organizations of all sizes. To this end, CloudPay plans to use the new funding to scale its platform for use by smaller multinationals, as well as grow its global operations team by opening service centers in four additional countries.