What is OnPay?
Launched in 2009 as a spin-off from a traditional payroll provider, OnPay has leveraged its deep industry expertise to develop an approachable and comprehensive platform. Headquartered in Atlanta, Georgia, the company caters to a diverse range of industries, serving businesses of all sizes, as well as accounting and bookkeeping professionals. OnPay's integrated approach addresses both the legal compliance aspects and the human element of human resources, aiming to streamline operations and reduce administrative burdens for its clients. The company's focus on making payroll, HR, and benefits easy, affordable, and mistake-free positions it as a key player in the HR technology sector.
How much funding has OnPay raised?
OnPay has raised a total of $103.3M across 4 funding rounds:
Series A
$5.9M
Debt
$350K
Debt
$34M
Series B
$63M
Series A (2020): $5.9M, investors not publicly disclosed
Debt (2020): $350K led by PPP
Series B (2025): $63M supported by Carrick Capital Partners and AllianceBernstein
Debt (2025): $34M featuring MC Credit Partners
Key Investors in OnPay
Carrick Capital Partners
Carrick Capital Partners is a private equity firm specializing in software, SaaS, and technology-enabled services, likely to support OnPay's strategic growth and operational enhancements.
AllianceBernstein
AllianceBernstein is a global investment management firm that provides a wide range of investment services, indicating a focus on OnPay's financial stability and long-term market potential.
MC Credit Partners
MC Credit Partners provides credit solutions and likely supports OnPay's financing needs, contributing to its capital structure and operational funding.
What's next for OnPay?
With the recent major strategic investment and the overall enterprise-level funding context, OnPay is poised for significant expansion and product development. The company's trajectory suggests a focus on scaling its operations, enhancing its platform's capabilities, and potentially broadening its market reach. This strategic financing will likely enable OnPay to further innovate in the competitive HR tech landscape, reinforcing its commitment to providing a robust and user-friendly solution for payroll, HR, and benefits management. Future growth may involve deeper integration of AI-driven features or expansion into new service verticals.
See full OnPay company page
