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Mayo Tech Co Payslip €8.3m Funding


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CategoryBusiness
DateTuesday, May 18, 2021
AuthorNewsdesk@IrishDev.com

Fidelma McGuirk, Payslip founder and CEO, said that the €8.3m funding round led by MiddleGame Ventures follows a record year of growth which saw a a 40% revenue growth, and 25% quarterly customer growth.

Mayo Tech Co Payslip €8.3m Funding

150 Jobs to be Created at Mayo based Payroll Technology Company Payslip as MiddleGame Ventures Lead Serie A Financing

 

Westport based payroll management platform, Payslip, has closed an additional €8.3 million to its Series A financing round, and says it will now hire more talent across a range of departments to serve its growing international client base. 

 

Payslip's platform enables multinational organizations to solve a range of payroll-related pain points, including lack of data standardization & automation, reporting & analytics, compliance and payroll operational efficiency. Clients include LogMeIn, Get Your Guide, Cloudera, and Airbus.

 

MiddleGame Ventures led the round, with additional participation from Mouro Capital, Frontline Ventures, and Tribal.vc, along with investors David Clarke, former CTO of Workday; Brian Williams- Co-Founder of One Source Virtual; and Phil Chambers, CEO and Co-Founder of Peakon.

 

 

The investment now enables Payslip to expand its product roadmap, hiring 150 tehnologists, extensively in Ireland, in software development, integration, tech support and customer success managers to ensure its platform and business processes are fully optimized to take advantage of upcoming market opportunities in the global payroll space

 

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Fidelma McGuirk, Payslip founder and CEO, said that the funding round follows a record year of growth which saw a a 40% revenue growth, and 25% quarterly customer growth. She said; “The pandemic brought sweeping changes to payroll management models as many global payroll teams were working from home and had to support colleagues in other countries.

Payslip was chosen by both high growth tech native companies, who seek smart technology to manage their mission critical business processes, as well as large enterprises who are going digital."

 

General Partner at MiddleGame Ventures, Patrick Pinschmidt, said; “Fidelma and the Payslip team are pioneering a new technology that solves problems for clients with complex payroll needs. By removing friction and standardizing data flows, Payslip enables greater customization around enhanced services for employees. This flexible global payroll tech is unique in the marketplace and we are excited to help them create innovative, problem-solving solutions for global employers.”

 

The funding brings the company’s total financing to €12 million. 

 

 

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