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Fremont, CA: Global is a market leader in global workforce management. The company has completed the acquisition of the remote work connectivity platform NickNack.
The acquisition strategically strengthens Papaya's technology solution for hypergrowth companies facing the challenge of onboarding remote employees and incorporating them into fast-moving teams.
The acquisition comes after Papaya closed a $250 million Series D funding round in September, raising its valuation to $3.7 billion, a tenfold increase from September 2020.
"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 commented. "We're thrilled to bring NickNack's technology and expertise to the Papaya Platform for all of our clients."
NickNack's CEO Inbal Shenfeld Kolodziejska said Papaya was the ideal person for NickNack's solution. "Papaya is setting the standard for how the global workforce will be managed for years to come," she stated. "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 stated that the NickNack team is very excited to begin working with Papaya's team after witnessing Papaya's rapid growth as one of the world's leading experts in global workforce solutions.