Wednesday, August 1, 2018

Gusto Gains $140M

San Francisco-based Gusto, which develops software to manage payroll, benefits, and other human resources areas for small businesses, said Tuesday that it raised $140M in a Series C funding round. The funding came from T. Rowe Price Associates, Inc., MSD Capital (Michael Dell), Dragoneer Investment Group and Y Combinator Continuity Fund plus existing investors General Catalyst, CapitalG, Kleiner Perkins, 137 Ventures, Emergence Capital and others. Gusto's CEO is Josh Reeves. The company said the funding goes towards "significant" additions to its technology platform, including new "flexible" payment capabilities which let employees choose when they want to get paid, regardless of their employer's pay schedule and without affecting their employer's payroll or cash flow. More information »