Gusto (formerly ZenPayroll) is a company that provides a cloud-based payroll, benefits, and human resource management solution for businesses.
Gusto develops web-based payroll solution for small- and medium-sized businesses.
Gusto was founded in 2011 by Josh Reeves, Edward Kim, and Tomer London. The company is headquartered in San Francisco, California, with offices in Denver and New York.
Gusto's core product offering is payroll processing. As part of the core payroll product, Gusto offers employee onboarding (work authorization forms, direct deposit forms, employee information aggregation).
Gusto also offers employee health insurance, dental insurance, and vision insurance enrollment and administration. Its Gusto Embedded Payroll, which enables software developers to embed and customize payroll directly into their software.
Gusto serves over 200,000 companies nationwide. The company recently acquired Symmetry, a leader in payroll infrastructure technology, and Ardius, an expert AI-powered R&D tax credit solution.
Gusto is backed by GV, General Catalyst, Kleiner Perkins Caufield & Byers, T. Rowe Price Associates, Sands Capital, Fidelity Management and Research Company, Durable Capital Partners, and others. The company raised an additional $55M in Series E financing on May 12, 2022. This is an extension of previous $175M raised in Aug 2021, bringing the Series E total to $230M. The additional investment brings Gusto's total funding to $746.1M to date. Gusto valued at a $10B from 1st tranche of Series E raised in Aug 2021.