PAPAYA GLOBAL IS NAMED TO THE 2024 FORBES CLOUD 100 FOR THE 4th YEAR IN A ROW

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Aug 06, 2024, 08:00 ET

NEW YORK, Aug. 6, 2024 /PRNewswire/ -- Papaya Global has been named to the Forbes 2024 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.

"This is a great honor" said Eynat Guez, CEO and Co-Founder of Papaya Global. "Paying employees is any global organization's first priority, and Papaya's true mission. Getting people paid wherever they are in the world is at the core of scalability. Our payments technology is purpose-built exactly for that, as an engine of growth for our customers. We're delighted to see our vision is resonating with market leaders like Forbes, BVP, and Salesforce Ventures."

This is Papaya Global's fourth consecutive year in the Cloud 100 list. Its cutting-edge technology and relentless innovation are profoundly transforming the payroll payments industry. By pioneering advancements in workforce payments automation, Papaya is not only enhancing operational efficiencies but also setting new standards for performance. This dynamic shift is elevating the entire sector, fostering a more interconnected environment where payroll is a technology rather than a service, and a strategic asset, rather than a mere expense.

Papaya's groundbreaking payroll and payments platform has revolutionized the workforce payments landscape. enables organizations to manage all types of workers and pay them in local currencies in any location, providing native connectivity with existing payroll systems. Thanks to these capabilities, global organizations can now scale their workforce, while protected by Papaya's full compliance and liability. Named to Forbes Cloud 100 for the fourth year in a row, Papaya is recognized for its unique capabilities which empower its clients to hire globally and pay locally.

For the ninth consecutive year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%). For market leadership, the Cloud 100 enlists the help of a judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers.

"For nine years, the Forbes Cloud 100 list has recognized the leading private cloud companies in the world, from AI to work software, infrastructure to security," said Alex Konrad, the Forbes editor of the Cloud 100. "This year's list is the strongest group of standouts yet, with revenue, valuations and growth that will eventually make for historic IPOs."

"Across nine years of data, we have yet to see as competitive of a cohort as the 2024 Cloud 100. The list value reached $820 billion this year, the highest list value in Cloud 100 history," said Mary D'Onofrio, partner at Bessemer Venture Partners. "Unsurprisingly, AI is now the highest valued category. We continue to be excited by how AI companies are scaling rapidly, transforming the cloud, and propelling the next wave of growth, driving a massive year-over-year jump in market cap of the list of over $150 billion.

"The past year, our industry has seen a generational step forward in innovation, and with AI leading the charge, we are witnessing one of the most important platform shifts in decades," said Paul Drews, managing partner at Salesforce Ventures. "The Cloud 100 list represents the best of the best, and we've never been more excited about what the future holds, not only for the cloud but for the entire technology industry. We are proud of what these founders and their communities have already accomplished, and look forward to seeing how they continue to transform the industry in the future."

The Forbes 2024 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100. Highlights of the list appear in the August/September 2024 issue of Forbes magazine.

This year, the CEOs of The Cloud 100 and the 20 Rising Stars companies will be honored with a digital content launch, as well as at the exclusive Cloud 100 Celebration hosted by Bessemer Venture Partners, Salesforce Ventures, and Forbes. A special thank you to the event sponsors, including Amazon Web Services (AWS), Bank of America, Cooley, Deloitte, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, and Nasdaq.

About Papaya Global
In an ever-expanding world economy, Papaya Global is the ultimate workforce payments platform. Papaya's Workforce OS enables organizations to hire globally and pay locally, on time every time. Delivering full compliance and liability coverage, and supporting all employment models, Papaya's platform uses AI to consolidate and automate payroll and payments operations to seamlessly connect HR and Finance tech stacks. Streamlining these business-critical processes optimizes their efficiency and transparency, transforming workforce payments from an organization's biggest expense and liability, into its strongest strategic asset.

Papaya has recently been named NetSuite International Partner of the Year, as a Leader in NelsonHall's NEAT Matrix, and recognized by top tier publications including Inc., Forbes, and CNBC. Papaya's team is nearly 1000 strong, serving customers like E-Toro, SentinelOne, SodaStream and others, in 160+ countries worldwide.

About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer's global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has more than $18 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer's storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).

About Forbes
Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 140 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 43 licensed local editions in 69 countries. Forbes Media's brand extensions include real estate, education and financial services license agreements.

About Salesforce Ventures
Salesforce Ventures helps enterprising founders build companies that reinvent the way the world works. For over 15 years, we've invested in and partnered with more than 400 of the world's most tenacious enterprise software companies from seed to IPO, including Airtable, Databricks, DocuSign, Guild Education, Hopin, monday.com, nCino, Snowflake, Snyk, Stripe, Tanium, and Zoom.We leverage our decades of expertise in the cloud and our long-term relationships with key decision-makers at thousands of businesses around the world to give our portfolio companies an unfair advantage, help them build credibility, and accelerate growth. Salesforce Ventures has a $5BN portfolio of 300+ companies in more than 25 countries, and has offices worldwide, including in San Francisco, Irvine, New York, London, Tokyo, and Sydney. Follow @SalesforceVC and learn more at http://www.salesforceventures.com.

SOURCE Papaya Global