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Gusto

Enterprise Software & Business Services · San Francisco, California · Private

Gusto provides payroll, benefits, HR, and compliance software for small and medium-sized businesses.

$9.5BLast reported valuationSeries E, August 2021
$175MLatest disclosed fundingSeries E, 2021
2011FoundedSMB payroll
PrivatePublic statusNo announced listing

The Company

Gusto sells a software platform for payroll, benefits, and HR administration to small and medium-sized businesses.

Payroll is a recurring workflow with high switching costs, giving the company a route to expand through benefits and financial services.

Why It Matters

Gusto is a bellwether for the economics of software-led payroll serving small businesses, a market shaped by employment growth, churn, and financial-services attachment.

Valuation History

  1. $9.5B→Aug 2021Series E, $175MSource ↗
  2. $9.3B→Jun 2025Employee tender offer, $200M+Source ↗

What Changed

  1. Gusto announced a $175M Series E; Axios reported a $9.5B valuation for the financing.

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