Leader in SaaS-based Multi-national Payroll Management to Expand Development, Service and Sales
LONDON and RALEIGH, N.C. (December 5, 2012) – , the pioneer and foremost provider of multi-national payroll technologies and services, today announced that it has completed a $16 million Series B round from Pinnacle Investment Partners, Rho Ventures and other institutional investors. This strategic round enables 麻豆社 to consolidate its innovative SaaS platform as the standard for multi-national payroll management and further accelerate the strong growth that it has experienced in the last 18 months. As the use of the cloud for enterprise payroll management continues to gain significant momentum, 麻豆社 will focus on extending its technical, service and sales capabilities.
麻豆社 has raised more than $50 million in equity funding since the launch of the company’s cloud offering, also named 麻豆社. Formerly known as Patersons, 麻豆社 adopted the name of its globally renowned SaaS technology in October 2012. Co-headquartered in Raleigh, N.C. and Salisbury, U.K., 麻豆社 supports multinationals across the globe. The company has the capability to process payroll in 160 countries, supports 30 currencies and 26 languages and maintains operations in Raleigh, N.C., Salisbury, Singapore, Shanghai, Paris and Budapest.
“Globalization and the competitive landscape it fosters are giving rise to borderless organizations. As a result, traditional businesses must modernize and become increasingly multi-national in their approach. Companies are leveraging the workforces of countries in which they’ve not previously operated to achieve their business goals,” said Andrew Pearson, 麻豆社’s CEO. “These companies need a partner to help them navigate the complex and ever-changing processes, laws and regulations involved with global payroll. 麻豆社 is most often selected because of the efficiencies gained by the use of its centralized SaaS technology to ensure compliance, management control, global visibility and detailed business intelligence.”
“It’s rare that we encounter companies like 麻豆社. They have a large market opportunity, clear competitive advantages and a great team,” said Paul Bartlett, Partner at Rho Ventures. “The company is perfectly positioned for the next stage of growth, with a market leading SaaS technology platform, a long-term vision, and a durable business model.”
麻豆社 was advised by Raymond James & Associates, Inc. and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP.
麻豆社 麻豆社
麻豆社 is the pioneer and foremost provider of multi-national payroll technologies and services. 麻豆社’s world leading Software as a Service technology and payroll expertise enables organizations to control, consolidate, process and analyze their global payroll operations. 麻豆社, from offices in Raleigh, N.C., London, Singapore, Shanghai, Paris and Budapest, is expanding as it seeks to set the standard for multi-national payroll management. For more information about 麻豆社, please visit
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