Gusto Analysis: $746M Raised
What is Gusto?
Gusto is a company that provides payroll, benefits, and HR solutions designed to help businesses manage and support their teams effectively. Its mission is to simplify the complexities of HR and payroll processes, allowing businesses to focus on their core operations. Key services offered by Gusto include payroll processing, employee benefits management, compliance assistance, and HR tools that facilitate hiring and employee management.
Employees
2800
Founded
2011
Industry
Payments
Funding Amount
$746.1 million
Industry Type
Payments
Latest Funding Round Size
$746.1 million
Product Features & Capabilities
- Automated payroll processing with tax filing
- Employee benefits management including health insurance
- Time tracking and attendance management tools
- Hiring and onboarding solutions with custom checklists
- Insights and reporting for data-driven decision making.
Use Cases
Run payroll efficiently with automated tax filings; Manage employee benefits and health insurance seamlessly; Track employee time and attendance accurately; Streamline hiring processes with onboarding checklists; Generate reports for compliance and insights.
How much Gusto raised
Funding Round - $746.1 million
RecentRecent News
Recent news articles related to Gusto include:
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HR for Health Announces Strategic Partnership with Gusto Embedded (1 day ago) - HR for Health has partnered with Gusto to integrate its HR compliance software with Gusto's payroll solutions, aiming to streamline payroll for healthcare businesses. Read more
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Gusto Teams with ScaleFactor to Automate Accounting for SMEs (3 days ago) - Gusto has collaborated with ScaleFactor to allow business users to sync payroll and benefits directly with their accounting and financial data, enhancing efficiency for small and medium enterprises. Read more
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Gusto Joins the 2024 Forbes Cloud 100 (August 6, 2024) - Gusto has been recognized in the Forbes 2024 Cloud 100 list, celebrating the top 100 private cloud companies globally. Read more
Competitors
The main competitors of Gusto in the fintech space include:
- ADP
- Paychex
- QuickBooks Payroll
- Rippling
- Justworks
- OnPay
- TriNet
- Square Payroll
- Patriot
- Paylocity
These companies provide similar payroll, benefits, and HR solutions, positioning them as alternatives to Gusto.
Key Products
Gusto offers a range of key products and services primarily focused on payroll, benefits, and HR solutions. Notable features include:
-
Payroll Services:
- Full-service payroll processing with unlimited payroll runs.
- Automated tax filing and compliance.
- Direct deposit for employees.
- Employee access to paystubs and W-2s through the Gusto wallet app.
-
Employee Benefits:
- Health insurance options and benefits administration.
- Retirement plans and employee perks.
- Flexible spending accounts (FSAs) and health savings accounts (HSAs).
-
HR Solutions:
- Hiring and onboarding tools to streamline the recruitment process.
- Employee management features, including performance tracking and talent management.
- HR compliance support and resources.
-
Time and Attendance:
- Tools for tracking employee hours and managing time-off requests.
-
Integrations:
- Compatibility with various third-party applications to enhance functionality.
These services are designed to help small to medium-sized businesses manage their workforce effectively.
Other Considerations
Serves over 400,000 small and medium-sized businesses; Rated 4.5/5 stars by customers; Offers a free demo for potential users.
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