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Gusto — Startup ProfileFull-service payroll, benefits, and HR for modern companiesHQ: San Francisco, CA, United States | Founded: 2011 | Employees: ~2,400 (2024) | Stage: Late-Stage Private / Series E | Website: https://gusto.comAboutGusto was founded in 2011 in San Francisco as ZenPayroll by Stanford friends Joshua Reeves (CEO), Edward Kim (CTO) and Tomer London (CPO), incubated at Y Combinator (W12). The team set out to rebuild payroll from first principles after experiencing the pain of filing taxes and paying contractors at prior startups. Rebranded from ZenPayroll to Gusto in September 2015 to reflect expansion beyond payroll into health benefits and HR, the company built a full-stack platform that automatically calculates, files, and pays federal, state, and local payroll taxes in all 50 states, administers health insurance, 401(k) via Guideline, workers' comp, and offers a modern employee self-service layer. Headquartered in San Francisco with offices in Denver and New York, Gusto employs ~2,400 people and has rKey Metrics

Valuation: $9.5B (Series E, Aug 2021)

Secondary Valuation: $10B (Fidelity secondary, Nov 2021)

Total Funding Raised: $1.1B / $746M disclosed

Revenue: $500M ARR (2022) → $500M+ (2023)

Customers: 300K+ businesses, 14M+ employees & contractors

Employees: ~2,400 (2024), ~1,800 (2022)

Funding Rounds

Round: $6.1M (2012-12-01) — General Catalyst, Kleiner Perkins

Round: $26.5M (2014-04-15) — General Catalyst

Round: $60M (2015-12-17) — CapitalG (Google Capital), General Catalyst

Round: $140M (2018-07-31) — CapitalG, Dragoneer Investment Group

Round: $200M (2019-07-12) — General Catalyst, Fidelity Management

Key People

Joshua Reeves

Edward Kim

Tomer London

Mike Taylor

Key Competitors

Rippling —

ADP (Automatic Data Processing) —

Paychex —

Deel —

Timeline Highlights

2022-11-15: Hits $500M ARR Across 300K Businesses

2021-06-22: Gusto Wallet Launch

2021-08-10: Series E $175M at $9.5B

2018-07-31: Series C $140M at $2B

2015-09-17: Rebrand to Gusto; Launch Benefits