Thera Analysis
What is Thera?
Thera provides payroll, contractor payments, and employer of record services for startups, small businesses, and global teams. The site also lists business banking, spend management, invoicing, accounting, and Thera Rewards, which gives payroll points. Its product pages emphasize US payroll, international contractor payments, and hiring employees abroad.
Location
1460 Broadway, New York, New York 10036, US
Employees
11-50
Founded
2021
Revenue
$10M+
Product Features & Capabilities
- US Payroll, Contractor Management, Employer of Record, Invoicing, Bill Pay, High-Yield Banking, Time Tracking, Compliance, Accounting Integrations, Instant Payouts, Dedicated Slack Support
Pricing
- Employer of Record: Starts at $199/month per employee.
- US Payroll: Starts at $199/month per employee.
- Contractor Management: Starts at $199/month per contractor.
- AP/AR services: Pricing not specified.
Who are the founders of Thera
AR
Akhil Reddy
Founder
Business Model
Subscription-based model with monthly fees per employee or contractor for payroll services.
Investors
- Y Combinator
- 10x Founders
- Amino Capital
- Zillionize
- Bayhouse Capital
Competitors Overview
Thera's main competitors in the financial technology market, particularly in the areas of payroll, contractor management, and invoicing, include:
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Deel: Specializes in simplifying payroll and compliance for global hiring, offering legally binding contracts and 24/7 customer support, making it ideal for businesses looking to hire internationally.
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Gusto: Focuses on user-friendly payroll, benefits, and HR processes, which is particularly beneficial for small to medium-sized businesses.
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Rippling: Provides an integrated platform for payroll, benefits, HR, and IT, appealing to companies that prefer a single solution for multiple functions.
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Remote: Offers global HR solutions, facilitating the employment of international talent while ensuring compliance with local laws.
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Hubstaff: Known for time tracking and productivity monitoring, which is advantageous for managing remote teams.
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Multiplier: Allows businesses to pay global employees in multiple currencies, catering to companies with a diverse workforce.
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Justworks: Focuses on compliance and employee benefits, providing a solid foundation for startups and small businesses.
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Oyster: Facilitates global talent management with a strong emphasis on compliance and employee experience.
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Deluxe Payment Exchange+: Offers an integrated approach to payables, streamlining payment processes and integrating with existing ERP systems.
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Sage Intacct: A cloud-based financial management software that automates financial processes and provides real-time insights, suitable for growing businesses.
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Velocity Global: Simplifies global hiring and compliance, allowing efficient management of payroll and onboarding for international teams.
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TalentDesk.io: Facilitates hiring contractors and freelancers globally, with features like multi-currency payments and project tracking.
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Melio: An accounts payable platform that simplifies bill payments and integrates with accounting software, improving cash flow management.
These competitors offer various features and advantages that cater to different business needs, from payroll management to compliance and employee benefits.
Market Focus
Thera primarily focuses on the financial technology industry, providing an all-in-one payments platform that includes services such as payroll, contractor management, and invoicing for global teams.
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