What is OnPay?
OnPay, launched in 2009 as a subsidiary of a traditional payroll company, offers an integrated solution for payroll, HR, and benefits, aiming to simplify these complex processes for businesses of all sizes. Headquartered in Atlanta, Georgia, the company leverages its deep industry history to provide an approachable platform that manages both legal compliance and the human aspects of human resources. OnPay serves a diverse clientele, including companies across various industries, as well as accounting and bookkeeping professionals.
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, focusing on enhancing critical business areas for strategic success.
AllianceBernstein
AllianceBernstein is a global investment management firm providing services to a wide range of institutional and individual clients, with a diverse investment strategy across various asset classes.
MC Credit Partners
MC Credit Solutions LLC operates within the banking sector, providing credit solutions and financial services, headquartered in Burbank, California.
What's next for OnPay?
The substantial enterprise-level funding and recent strategic investment indicate OnPay is poised for significant scaling and market penetration. The company's focus on simplifying payroll, HR, and benefits positions it well to capture a larger share of the market, particularly among small to medium-sized businesses seeking efficient and affordable solutions. Future growth is likely to involve further product development, enhanced customer support, and strategic partnerships to broaden its reach and service offerings.
See full OnPay company page
