# OnPay

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/onpay

- Industry: Software
- Headquarters: Atlanta, US
- Website: www.onpay.com
- Total disclosed funding: $63M
- Latest round: Series B (Jan 7, 2025)
- Investors on record: 2

## About

OnPay, Inc. is a US-based software platform that delivers payroll, HR, and benefits administration solutions, enabling businesses to manage their workforce efficiently and ensure regulatory compliance.Founded in 2011 in Atlanta, US, OnPay, Inc. specializes in providing payroll and HR solutions for businesses. The company was established by Jesse Burgess and has successfully raised a total of USD 63.00 mn in funding through 3 deals, with the latest funding round being a Series B led by Carrick Capital Partners on January 7, 2025.OnPay provides comprehensive payroll, human resources (HR), and benefits administration services designed to streamline business operations for companies of all sizes. The core offerings include a user-friendly payroll platform that allows businesses to pay employees and contractors efficiently, manage payroll taxes, and handle related calculations seamlessly. In addition to payroll processing, OnPay’s HR features facilitate hiring, onboarding, and employee management, ensuring that organizations remain compliant with relevant regulations. The platform also supports employee benefits administration, including health insurance, workers' compensation, and retirement plans like 401(k)s. OnPay serves a diverse client base across various sectors in the United States, including small to mid-sized businesses that require efficient and reliable solutions to manage their workforce.OnPay operates on a subscription-based revenue model, offering tiered pricing plans that cater to different business needs and sizes. Clients typically engage with OnPay through monthly subscriptions, with pricing starting at USD 55.00 per month, providing access to its suite of payroll and HR services. The transaction structure primarily involves B2B interactions, where businesses utilize OnPay's platform to streamline their payroll processes and manage HR tasks. Services such as direct deposit payroll, benefits management, and compliance tools are included in these subscriptions, ensuring that clients receive comprehensive support. OnPay’s approach to pricing emphasizes transparency, with clients assured of no hidden fees, contributing to a predictable revenue stream for the company.In January 2025, OnPay, Inc. raised USD 63.00 mn in Series B funding led by Carrick Capital Partners, with participation from AllianceBernstein and other investors. The company plans to utilize the funding to develop its products, grow collaborations, and strengthen customer support teams. OnPay is focusing on expanding its product offerings and entering new markets, although specific new products and regions have yet to be disclosed. The recent funding aims to enhance the company's capabilities and support its strategic initiatives.

## Funding rounds

- Series B, Jan 7, 2025, $63M — AllianceBernstein, Carrick Capital Partners

## Investors

- AllianceBernstein (https://capitalatlas.ai/funds/alliancebernstein) — Series B
- Carrick Capital Partners (https://capitalatlas.ai/funds/carrick-capital-partners) — Series B