Is it possible to be paid by a company for research and also use this research towards a Ph.D.?
Yes, you can do this, but use caution. There are situations in which you can do research at a company but be prohibited from writing about it or using it outside the company. Contracts rule in this area. 

There are other situations in which you can do such research and have the university involved so that you can use the research to obtain a degree, but your dissertation disappears into the void and you can't publish anything, again for contractual reasons. 

If the work you do can be patented, there may be additional restrictions on who owns the patents (likely not you) and who can benefit from it (possibly you, but not necessarily). 

Other places there are no issues. 

So, before you contemplate doing this, just be aware of any restrictions on your results and what you can do with them after your relationships to both company and university end. 

And, if you have a contractual obligation, be sure to honor it as companies can be ruthless if you expose proprietary work or trade secrets.