It’s as if we’re not in the midst of a global pandemic, but I guess the Israeli high-tech arena has rules of its own: Papaya Global, which develops payroll management systems for organizations with employees based around the globe, announced that it has acquired Mensch, an Israeli startup that provides an HR management and analytics platform. The companies plan to collaborate to present a global management platform for organizations to better manage their employees no matter where they are based.
Papaya CEO: “It’s just a perfect match”
Papaya’s platform enables organizations to automate and customize employee payroll management, whether they are directly employed by the organization, sub-contractors, outsourced labor, or digital nomads, and able to adapt payroll demands per country - which may have different tax codes, etc. The acquiring company is also said to absorb the team over at Mensch, with them transferring to Papaya’s Israeli headquarters.
On the other side of the coin, the Israeli startup that’s being acquired provides an HR management and analytics platform. Mensch’s system collects employee data from within the organization and creates a digital HR portfolio that includes all the necessary documentation, feedback, and all the rest of the information that allows HR to make educated decisions regarding employees and various related processes in the company. The platform automates trends and insight by analyzing the information that was fed to it. Among the company’s key customers are giants such as Microsoft, Intel, and Wix among others.
Merging Mensch's platform into Papaya's global network is as organic as it comes. “This was the next step in creating the ultimate global HR and payroll platform,” so claims Eynat Guez, Papaya CEO and co-founder. “When we saw what Mensch built with its HRIS (human resource information system), we realized that they share the solution for building payroll products for our customers. The decision to merge the platforms was a quick and easy one from our side. It’s just a perfect match.” Now, Papaya can offer a more holistic product to HR and payroll departments, so they can better manage globally based teams all on one platform.
Papaya was founded by Ruben Drong, Eynat Guez, and Ofer Herman, three highly experienced entrepreneurs in both working with startups and managing global operations. Mensch was founded in 2017 by CEO Galia Bachar; CRO Ma’ayan Refua; and CTO Avishai Ankri. The Mensch team will join Papaya global's team in Tel Aviv