COMPANY INFO
The company name is Paycom Software, Inc., founded in 1998 by Chad Richison. It has approximately 7,306 employees and is headquartered in Oklahoma City, Oklahoma. Paycom operates in the software development industry, specializing in human capital management and payroll software. The company provides an online platform that simplifies HR and payroll processes for businesses, transforming how people manage workforce-related tasks globally. Their official website is https://www.paycom.com.
Paycom Software, Inc. is a leading provider of online payroll and human capital management (HCM) software, founded in 1998 by Chad Richison. Headquartered in Oklahoma City, Oklahoma, the company operates in the SaaS sector, delivering cloud-based HR and payroll solutions designed to streamline and automate workforce management processes for businesses of all sizes. With over 7,300 employees as of 2024, Paycom serves clients across the United States and continues to set industry standards for digital HR transformation.
Paycom Software, Inc.'s funding history is marked by a strategic focus on operational efficiency and sustainable growth. The company has raised capital through a notable Initial Public Offering (IPO) and received private equity investment prior to going public. Altogether, Paycom funding totals approximately $69.1 million from its IPO on April 15, 2014, in addition to an undisclosed private equity round. Throughout its funding journey, Paycom has prioritized capital efficiency, using major fundraising events to solidify its financial foundation, refinance debt, and support continued innovation and expansion within the crowded payroll and HCM software market.
Paycom Software, Inc. completed its IPO by offering 6,645,000 shares at $15 per share, raising $99.7 million (with net proceeds of approximately $69.1 million). The primary use of funds was to repay outstanding indebtedness and further strengthen the company's financial position to enable ongoing growth and product development.
Before its IPO, Paycom received private equity funding from Welsh, Carson, Anderson & Stowe. This investment provided crucial growth capital to help scale operations and accelerate product development during Paycom's pre-public phase.
Welsh, Carson, Anderson & Stowe is a renowned private equity firm specializing in technology and healthcare investments. As a key Paycom investor, the firm played an integral role in the company’s private funding round, fueling strategic growth ahead of the IPO. Their backing equipped Paycom with both financial resources and industry expertise to advance its SaaS business model and infrastructure.
These financial institutions acted as lead investors and underwriters during Paycom’s IPO, supporting the company through its transition to a publicly traded enterprise and helping secure the capital necessary for continued expansion in the competitive HR and payroll software market.
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