Recent funding rounds include a $250 million round for payroll platform Papaya Global and a $60 million round for myBasePay, a provider of back-office solutions for staffing firms. In addition, Solo, a company that aims to increase visibility for app-based independent contractors at work services firms, announced a $5.3 million seed round. Lastly, Strategio, a recruit-train-hire platform, announced a $2 million seed investment.

Papaya Global

Papaya Global, a payroll platform serving 140 countries, announced this week a $250 million Series D funding round at a valuation of $3.7 billion. With this round, the company has raised a total of $440 million.

Papaya Global provides payroll for all employee types, including contractors, and it provides employer-of-record services and allows for management of independent contractors.

“2021 has been and continues to be a breakthrough year for Papaya,” said co-founder and CEO Eynat Guez. “Papaya can take any organization live in record time — less than 3 months, including full onboarding — with zero IT resources on the client side. This is a game-changer in the industry and one of the catalysts for our current hyper growth.”

Papaya Global reported revenue grew more than 300% year over year for each of the last three years.

The new funding round was led by New York-based global private equity and venture capital firm Insight Partners and joined by Tiger Global.

Papaya Global has offices in New York; Herzliya, Israel; and Hong Kong.

myBasePay

This week myBasePay, a provider of back-office solutions for staffing firms and independent recruiters, announced the closing of a $60 million funding round. The company’s back-office solutions include employer of record, payroll, onboarding, benefits administration, legal compliance and funding.

“MyBasePay’s objective is to be the modernized employer of record supplier for the entire contingent workforce ecosystem and help organizations focus on their clients by acting as an extension of their team,” myBasePay CEO Cesar Jimenez said.

The company was founded in 2020.

Solo

Solo last month announced a $5.3 million seed funding round. The company tracks data across multiple work services platforms such as Uber, Doordash and Instacart to provide city-level pay and performance benchmarks, including hour-by-hour earnings predictions for independent contractors.

“We’re excited to put better data and tools in the hands of drivers, shoppers, couriers and others so they can maintain their flexibility, while also knowing when, where, and what job to work,” Solo CEO and co-founder Bryce Bennett said.

The funding round was led by Slow Ventures.

Strategio

Last month, Strategio announced a $2 million seed investment from Hydrogen Group plc. The Miami-based company’s model is to train STEM talent and then place them at enterprise-level firms. In a blog post, Strategio said it invests $5,000 per person during a training period and then $5,000 for relocation. Placements last one to two years. Workers going through the program can join the client firm directly after their initial contract is completed.

“It’s an exciting time with the economy rebounding after Covid-19, hiring is on the up and most companies are competing in the war for talent,” Strategio CEO and founder Conor Delanbanque said. “A lot of enterprise companies have made statements about improving DE&I, but many haven’t figured out how to bring these strategies to life. I’m glad that we’ve found a solution by creating fresh talent for the industry at a time when it’s most needed.”