COMPANY INFO
Gusto, Inc., formerly known as ZenPayroll, Inc., was founded in November 2011 by Joshua Reeves, Tomer London, and Edward Kim. It is a private company in the business software industry, headquartered in San Francisco, California, with approximately 2,400 employees. Gusto develops payroll, benefits, and human resource management software for businesses in the United States, providing tools for payroll processing, employee onboarding, and benefits administration including health, dental, and vision insurance enrollment. The company's website is gusto.com.
Gusto, Inc., formerly known as ZenPayroll, Inc., is a leading company in the business software industry, founded in 2011 by Joshua Reeves, Tomer London, and Edward Kim. Headquartered in San Francisco, California, Gusto employs around 2,400 people and specializes in developing payroll, benefits, and human resource management software for businesses across the United States. Leveraging an intuitive and modern platform, Gusto simplifies payroll processing, employee onboarding, and benefits administration—offering solutions that include health, dental, and vision insurance enrollment.
Gusto, Inc. has demonstrated a strong and strategic funding trajectory since its founding, raising approximately $746 million across nine funding rounds. The company’s funding history features significant growth points at each round, with participation from many preeminent venture capital firms and institutional investors. Early investments focused on product launch and development, while subsequent infusions have supported market expansion, strategic partnerships, and the evolution of Gusto's comprehensive HR platform. Gusto’s targeted funding strategy reflects its ambitions to lead the HR, payroll, and benefits space for small and mid-sized businesses in the U.S.
This latest extension of Series E funding was aimed at further bolstering Gusto's business capabilities, driving new partnership opportunities, and supporting continued development of advanced HR tech and payroll solutions.
The Series E round supported the expansion of Gusto’s comprehensive HR solutions, enabling the company to accelerate growth, scale its customer base, and deepen its suite of payroll and benefits tools.
Funds from the Series D round fueled growth initiatives and enabled Gusto to expand into new markets, broadening its product reach and reinforcing its leadership in business software for HR and payroll.
The second Series C round focused on enhancing product development and market reach, ensuring Gusto could meet the evolving needs of small businesses across the U.S.
This Series C funding supported further innovation in product development and greater market expansion—strengthening Gusto’s position in the business software sector.
An additional infusion in the Series B round aimed to support continued company growth and operational scaling.
Gusto used Series B capital to scale up operations and expand its suite of service offerings for small and mid-sized businesses.
This round supported key product development initiatives and Gusto’s initial go-to-market entry, laying the foundation for future growth.
The seed round provided funding for Gusto’s initial launch and early product development efforts.
A leading institutional investor, T. Rowe Price has participated in Gusto, Inc. funding rounds, supporting the company through its growth and development phases.
A prominent financial services corporation, Fidelity Investments has played a major role in late-stage Gusto, Inc. investment, contributing to key growth and expansion rounds.
General Catalyst is a venture capital powerhouse that has backed Gusto in multiple funding rounds, championing the company from early stages through its rapid growth.
Google’s growth equity investment fund, CapitalG, participated in Gusto, Inc. funding, providing both capital and strategic resources for scaling.
A renowned startup accelerator, Y Combinator was an early investor in Gusto, Inc., helping facilitate the company’s launch and early product market fit.
Dragoneer is a global investment firm focused on growth-stage technology companies, and has supported Gusto, Inc.'s expansion with significant funding.
Kleiner Perkins is a leading venture capital firm that has participated in several Gusto, Inc. funding rounds, reinforcing the company’s trajectory in business software innovation.
Emergence Capital's investment in Gusto, Inc. provided key support during pivotal growth and product expansion phases.
This private investment firm joined Gusto, Inc. as a significant backer, supporting the company’s scaling efforts.
As a global investment management organization, Franklin Templeton participated in late-stage Gusto, Inc. funding rounds focused on strategic expansion.
Additional Gusto, Inc. investors include Sherpalo Ventures, Sands Capital, Durable Capital Partners, Emerson Collective, Glynn Capital, 137 Ventures, Friends & Family Capital, Acrew Capital, Franklin Templeton Investments, Cross Creek, Paul Buchheit, Google Ventures, DCVC, Signatures Capital, Bobby Yazdani, Ben Ling, Jawed Karim, Tien Tzuo, Jeremy Stoppelman, Larry Augustin, Aaron Levie, and David O Sacks—each playing an important role in the company’s development and funding strategy.
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