Papaya Acquires Remote Work Connectivity Platform NickNack

TEL AVIV, Israel, Nov. 17, 2021 /PRNewswire/ -- Global, the market leader in global workforce management, is proud to announce the acquisition of remote work connectivity platform NickNack.

The acquisition strategically enhances Papaya's technology solution for hypergrowth companies facing the challenge of onboarding employees in remote locations and integrating them into fast-moving teams.

"Today's post-pandemic, hybrid-work world has different challenges than it did just two years earlier. Global payroll and workforce management is also about providing our clients with the technology they need for their global payroll solution and to improve their employees' experience," said Papaya CEO and Co-founder Eynat Guez.

"The NickNack solution has proven effective in helping remote teams recreate the chemistry and culture that existed when work was done out of one central office," Eynat added. "We're thrilled to bring NickNack's technology and expertise to the Papaya Platform for all of our clients." 

The acquisition comes after Papaya closed a $250 million Series D funding round in September, bringing its valuation to $3.7 billion – a tenfold increase over September 2020.

NickNack's CEO Inbal Shenfeld Kolodziejska said Papaya was a perfect fit for NickNack's solution. "Papaya is setting the standard for how the global workforce will be managed for years to come," she said. "We couldn't think of a better company to advance the NickNack vision. The Papaya Platform is trusted to handle the most critical functions of the organization – payroll, payments, and people management.

Inbal said the NickNack team is very excited to start working with Papaya's team, watching Papaya perform in hypergrowth as one of the world's foremost experts in global workforce solutions.

"When we started the journey with NickNack, mid-pandemic and the global quarantine, we had a big vision that quickly resonated with our investors and customers. This acquisition will enable us to deliver faster and to a greater audience," Inbal added. "Integrating with a market leader that understands the importance of employee engagement and onboarding delivers a win-win."

ABOUT PAPAYA

Papaya offers a people, payroll, and payment management solution supporting all types of global employment (payroll, EoR, and contractors) in over 160 countries to remove barriers to global hiring, enhance collaboration and engagement, and provide a first-rate employment experience.

The automated, cloud-based SaaS platform provides an end-to-end solution, from onboarding to on-going management and cross-border payments. The platform is customizable to all business requirements, integrates with existing HRIS management tools, and uses intelligent technology to ensure compliance and eliminate errors. It gathers all employee information into one place, creating a highly visible system for tracking payroll spending and provides real-time business intelligence. The platform ensures GDPR and SOC compliance to maintain the highest standard of security.  

Papaya's team currently spans Tel Aviv, New York, Austin, London, Kiev, Singapore, and Melbourne, Papaya's technology has been recognized by all leading global analysts, including Gartner, Visa, NelsonHall and others, as disruptive in the field of global people, payroll, and payments. Papaya was included in the Forbes Cloud 100, the definitive ranking of the top 100 private cloud companies in the world.

For more information visit Papayaglobal.com

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Photo - https://mma.prnewswire.com/media/1690951/NickNack_Team.jpg

SOURCE Papaya Global