At Papaya, we’re always looking for ways to grow bigger, expand our technology, and improve the employee experience, especially for companies navigating the challenges of remote work.
That’s why we’re excited to announce the acquisition of the remote work connectivity platform NickNack.
The acquisition adds to Papaya’s capabilities as we reach out to hypergrowth companies that have switched to remote/hybrid work models and need to integrate many new employees into fast-moving teams.
NickNack was founded during the Covid crisis and quickly gained traction as companies looked for ways to recreate the office environment while their employees were forced to work from remote locations, often in isolation from their teams.
Papaya CEO and Co-founder Eynat Guez said the acquisition gives Papaya more ways to help companies succeed in a changing world.
“Today’s post-pandemic, hybrid-work world has different challenges than it did just two years earlier,” Eynat said. “Global payroll and workforce management is not only about local compliance in many different jurisdictions. It is also about providing our clients with the technology they need to improve their employees’ experience,” Eynat added.
“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 continued. “We’re thrilled to add new technology as advanced and targeted as NickNack’s.”
Papaya’s groundbreaking SaaS platform proved indispensable during periods of extended lockdowns. Our paperless onboarding tools, super-fast go-live time, and advanced automation provided a lifeline for growing companies, propelling Papaya to our own extended period of hypergrowth.
NickNack is our second acquisition in two years, with both of new additions strengthening our people management technology in different ways. In 2020, Papaya acquired the HRIS platform Mensch to bolster Papaya’s end-to-end global workforce management offering.
The latest 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. “We couldn’t think of a company more dedicated to improving the employee experience than Papaya,” she said. “Papaya is setting the standard for how the global workforce will be managed for years to come.”
Get the Papaya Experience in People, Payroll, and Payments
Papaya offers a complete solution for the total workforce, supporting all types of global workers (payroll, EoR, and contractors) in over 140 countries.
Our automated, cloud-based SaaS payroll software provides an end-to-end solution, from onboarding and people management to payroll processing to payments.
The automated platform ensures payroll compliance and data privacy and provides benefits management. Papaya’s knowledge center offers updated information on salary benchmarks, mandatory benefits, tax rates, and more – everything you need to know before hiring overseas.
Contact us for a strategic consultation on our global workforce management platform.