What is Gusto?
Gusto operates a sophisticated cloud-based platform designed to streamline payroll processing, benefits administration, HR services, and compliance tasks for small and medium-sized businesses. By automating these critical functions, Gusto empowers employers to manage their workforce more efficiently, reducing administrative burdens and ensuring adherence to regulatory requirements. The company's comprehensive suite of tools aims to simplify the complexities of HR management, allowing businesses to focus on core operations and growth.
How much funding has Gusto raised?
Gusto has raised a total of $582.7M across 6 funding rounds:
Angel/Seed
$6.1M
Series A
$20M
Series B
$41.6M
Series C
$140M
Series D
$200M
Series E
$175M
Angel/Seed (2012): $6.1M with participation from Data Collective, Google Ventures, Salesforce, and Sherpalo
Series A (2014): $20M led by Kleiner Perkins Caufield & Byers and General Catalyst
Series B (2015): $41.6M supported by Kleiner Perkins, Google Ventures, Ribbit Capital, General Catalyst, Google Capital, and Emergence Capital Partners
Series C (2018): $140M featuring MSD Capital, CapitalG, Emergence Capital Partners, Kleiner Perkins, 137 Ventures, T. Rowe Price Associates, Inc, Y Combinator Continuity Fund, General Catalyst, and Dragoneer Investment Group
Series D (2019): $200M backed by Generation Investment Management, Fidelity Management & Research Company, General Catalyst, and Dragoneer Investment Group
Series E (2022): $175M with participation from T. Rowe Price, Fidelity Investments, Sands Capital, Durable Capital Partners, and Generation Investment Management
Key Investors in Gusto
Kleiner Perkins
Kleiner Perkins is a venture capital firm based in Menlo Park, specializing in early and growth-stage technology and life science companies, providing capital and operational support from seed through IPO or acquisition.
General Catalyst
General Catalyst is a venture capital firm focused on identifying and supporting transformational business opportunities across multiple sectors and stages, backing entrepreneurs with ambitious visions and providing operational support to accelerate growth.
Generation Investment Management
Generation Investment Management is a firm that collaborates with partners to foster a sustainable economic system, mobilizing businesses and investors to address climate change and inequality through strategic research and grant-making.
What's next for Gusto?
The recent major strategic investment in Gusto signals a strong confidence from its backers in the company's future expansion and innovation within the HR tech landscape. This capital infusion is expected to fuel further development of its platform, potentially expanding its service offerings and market reach. Gusto's strategic focus will likely involve enhancing its automation capabilities, deepening its integration with other business tools, and solidifying its position as a leader in providing essential HR solutions to the SMB market. The company's consistent access to significant funding rounds indicates a robust business model and a clear path toward sustained growth and market leadership.
See full Gusto company page
