GoCo, a Houston, TX-based HR and benefits platform, raised $7m in Series A funding.
The round, which brought total funding to $12.5m, was led by ATX Seed Ventures with participation from the investment arm of UpCurve, Inc., the small and medium-sized business (SMB) solutions provider, among other strategic investors.
The company intends to use the funds to hire across all departments, continue to develop the platform further, extend its offerings and broadly expand its customer base.
Founded in 2015by CEO Nir Leibovich, Chief Technology Officer Jason Wang and Chief Product Officer Michael Gugel, GoCo provides a web and mobile based HR and benefits platform for business customers of all sizes and verticals, including retail and gym franchises, school districts, technology companies, real estate brokerages, healthcare hospitality organizations and more.
The platform provides HR functions like employee onboarding, secure cloud-storage document management, eSignature workflows, time-off tracking and HR data reporting, as well as simplified benefits enrollment and management, payroll sync and HR compliance enablement.
UpCurve is the wholly owned subsidiary of New Media Investment Group Inc., focused on delivering guided technology solutions to SMBs. In addition to the Series A investment, UpCurve and GoCo are exploring a partnership to bring GoCo’s technology to UpCurve’s nationwide business distribution network as the premier HR solution, which could enable GoCo to leverage New Media’s 200,000+ active customer relationships and local markets reach to an additional 5 million SMB potential customers, and exponentially grow GoCo’s customer base.
The company also has a partnership network with employee benefit insurance agencies like OneDigital and PayneWest, and general agencies like Word & Brown, to offer its technology as an enhancement to their existing insurance benefits services clients. GoCo also auto-syncs with leading payroll providers ADP, PayChex, Paylocity, Intuit Quickbooks and more, thus enabling businesses to maintain their benefits broker and payroll provider by integrating with GoCo’s platform.
The company is also backed by Salesforce Ventures, Corp Strategics, GIS Strategic Ventures, the venture arm of Guardian Life Insurance, and Digital Insurance.