CloudPay, NYC and London, UK-based global payroll provider, raised $35m in growth capital.

CloudPay, NYC and London, UK-based global payroll provider, raised $35m in growth capital.

New investor Runway Growth Capital joined existing investors Rho Ventures and Pinnacle Investment Partners.

The company intends to use the funds to scale the business and bring new products to market.

Led by Paul Bartlett, CEO, and Joshua Ruch, Chairman, CloudPay provides managed global payroll services to multinational organizations through a single, unified cloud solution. It processes payroll in line with often complex local and country-specific requirements, eliminating error-prone manual processes and ensuring timely payments. CloudPay’s solution guarantees accurate payroll processing across 130+ countries in more than twenty-five languages.