In a time when some white-collar workplaces are rethinking physical office space, a Chesterfield tech company is scooping up more square footage.
Earlier this month Paymerang, which makes software for payment processing, completed its expansion into the fourth level of 7401 Beaufont Springs Drive in the Boulders office park.
The move gives the company an extra 13,000 square feet, bringing its total footprint in the building to about 33,500 square feet.
The additional space provides the company room to grow amid a hiring spree and as it continues to emphasize face-to-face interactions among employees, even amid pandemic-inspired trends toward remote work.
“We’re not tone deaf to the shifts in the environment,” said Gloria Garber, the company’s vice president of people and culture. “We believe every company’s culture is unique and needs to do what’s right for them. We find the in-person collaboration has worked the best for us. There’s value in being in close proximity to team members.”
Paymerang was founded in 2010 and has grown to about 200 employees. The bulk of those work out of its Chesterfield office, while some also work a hybrid schedule of in-office and remote work. It moved into the building in 2017.
The company hired about 100 people last year and plans to hire another 150 to 170 employees in 2022, Garber said. Open positions include entry-level software developers, as well as cloud engineers and salespeople.
“We’re a company with very aggressive growth goals,” she said. “We’re kind of on the rocket ship right now trying to get people in here.”
Paymerang processes vendor payments for client businesses through its in-house software. Its clients include companies in the education, manufacturing, media, banking and health care sectors. It generates revenue through fees tacked onto transactions it processes.
The company’s growth is fueled by a sizable private equity backing. It raised $26 million in capital in 2018, in a round led by Aldrich Capital Partners. Last year Aldrich, which is now the company’s majority owner, invested another $10 million in Paymerang.