Startup profile · funding coverage
Gusto funding, valuation and investors
Payroll, benefits, and HR platform for small businesses.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series E
$175M · August 2021
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$235M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
growth · San Francisco, California
Investors in latest funding
Other: General Catalyst , Kleiner Perkins , Ribbit Capital
Overview
Gusto provides cloud-based payroll, benefits administration, and HR tools for small and medium businesses — handling tax filings, direct deposit, health insurance, and compliance in one platform. TechCrunch reported that Gusto passed $1B in actual trailing revenue in 2026, while Fortune reported a 2025 employee tender offer at a $9.3B valuation.
Why Gusto is interesting
Gusto combines a durable SMB payroll wedge with a reported $1B+ of actual trailing revenue and a latest disclosed $9.3B private mark from its 2025 employee tender offer.
Product & use cases
Gusto provides cloud payroll, benefits administration, and HR tools for small and medium businesses — tax filings, direct deposit, and compliance in one platform.
- SMB payroll processing and tax filing
- Health insurance and benefits enrollment
- HR compliance and onboarding for growing teams
Key facts
- Series B (2015): a16z (/fund/andreessen-horowitz) participated alongside CapitalG in $60M round (Startup Intros)
- Series E (Aug 2021): $175M with General Catalyst (/fund/general-catalyst), Kleiner Perkins (/fund/kleiner-perkins), Ribbit Capital (/fund/ribbit-capital) among long-time backers (Gusto news)
- June 2025: $200M+ employee tender offer at a reported $9.3B valuation, led by Teachers' Venture Growth (Fortune)
- May 2026: more than $1B in actual trailing revenue and cash-flow-positive context (TechCrunch)
Funding history (newest first)
Series E
2021-08 $175MSource: Read source · gusto.com
Investors in our directory
Funds linked from Gusto's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: Payroll as high-retention wedge into SMB operations — bundles HR and benefits to expand revenue per customer.
SMB payroll is durable and sticky. Gusto competes on product experience vs. incumbents and vs. Rippling's broader platform play.
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ADP incumbent
Legacy payroll giant; Gusto wins on UX for SMBs.
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Rippling direct
HR/payroll/IT platform; broader scope than Gusto.
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Paychex incumbent
Established SMB payroll; less modern UX.
Notable stories
- Rebranded from ZenPayroll to Gusto as product expanded beyond payroll (2015 era).
- Series E $175M (2021) with General Catalyst, Kleiner, Ribbit among long-time backers.
Industries
Market / IPO context
Editorial / static context — not a live quote.
Related funding articles
Venture Capital Tracker pieces that cover Gusto's financing or category context.
FAQs about Gusto
Practical answers founders, operators, and investors typically search for.
Last updated:
Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.