Deerfield-based payroll services provider Celergo has raised $15 million from a North Carolina private equity firm.

Celergo, which caters to companies with operations in multiple countries, already operates in 97 countries and also has offices in London and Singapore. The financing from Charlotte-based Frontier Capital will help Celergo expand its sales, marketing and service delivery.

The news was first reported by PE Hub.

The name of the company, Celergo is derived from two Latin words meaning “swift payment,” the company says on its Web site. Some of the proceeds will also be used to cash out certain shareholders.

To read the announcement, click here.