OnPay Raises Over $100 Million in Funding
OnPay, an Atlanta, Georgia-based provider of payroll, HR, and benefits solutions, has raised over $100 million in funding.
The funding includes a $63M Series B round led by Carrick Capital Partners, with participation from AB Private Credit Investors and existing investors, alongside a debt facility from MC Credit Partners.
Carrick Capital Partners is a growth equity firm based in San Francisco, California. Founded in 2011, the firm focuses its investments on software, SaaS, and tech-enabled companies.
The funds will enable OnPay to scale product development, expand partnerships, enhance customer success, and accelerate its go-to-market strategy.
Headquartered in Atlanta, OnPay provides payroll, HR, and benefits solutions to over 25,000 small and medium-sized businesses across the United States. Their platform is designed to simplify payroll processing, tax compliance, benefits administration, and employee management. Its platform combines user-friendly functionality with powerful features traditionally reserved for larger enterprises.
Funding Details
Company: OnPay, LLC
Raised: $100.0M
Round: Series B
Funding Month: January 2025
Lead Investor: Carrick Capital Partners
Additional Investors: AB Private Credit Investors, MC Credit Partners
Company Website: https://onpay.com/
Software Category: Payroll and HR Software