Papaya Global: 2022 Top Startups for the Enterprise

Founders: Eynat Guez (CEO), Ofer Herman, Ruben Drong
Launched: 2016
Headquarters: Herzliya, Israel
Funding: $440 million
Valuation: $3.7 billion
Key technologies: Artificial intelligence, machine learning
Category: HR technology

Israel is a well-known hub for some of the world's most advanced cybersecurity startups, but Papaya Global is aiming to make the nation known for leading in payroll technology as well. Combining onboarding, payroll and compliance on a global basis for both staff and contract workforces of companies with operations in over 140 countries, investors accelerated funding in 2021 and Papaya reached unicorn status, still a rare feat for a female-led startup. The company now handles over $3 billion in payroll for 700-plus customers including Cyberark, Shopify, Vimeo, Payoneer, Microsoft, Panasonic and fellow Top Startups company Canva. Investors include Workday's VC arm, Sir Ronald Cohen's family investment firm Dynamic Loop Capital, Bessemer Venture Partners, New Era Capital and Tiger Global.