The funding consists of a $63 million Series B funding round led by Carrick Capital Partners, with participation from AB Private Credit Investors, the middle market private capital platform of AllianceBernstein, as well as existing investors, and a debt facility provided by MC Credit Partners.

OnPay provides payroll, HR, and benefit solutions to over 25,000 small and medium-sized businesses across the United States. As more companies look to streamline payroll and HR functions, OnPay offers a comprehensive platform that combines ease of use with powerful features traditionally reserved for larger enterprises. In 2024, OnPay was named PCMag Editors' Choice.