Gusto, a San Francisco, CA-based people platform for small businesses to take care of their teams, raised $200m in Series D funding.
Late-stage investor Fidelity Management & Research Company and Generation Investment Management joined existing investors Dragoneer Investment Group, General Catalyst, and those advised by T. Rowe Price Associates, Inc. In conjunction with the funding, Anne Raimondi, a SaaS industry veteran with more than 20 years of experience in scaling technology businesses, joined Gusto’s Board of Directors.
The company intends to use the funds to double down on research and development and continue growing its team in Denver, San Francisco, and New York.
Led by Josh Reeves, CEO, Gusto provides a people platform, which enables small business owners and operators to onboard their employees, pay them, provide health insurance, and support their teams all in one integrated solution.
Launched in 2012, the company processes tens of billions of dollars of payroll annually and empowers small employers to provide robust benefits like health insurance, 401(k) retirement plans, and 529 college savings plans.
Gusto serves more than 100,000 small businesses across the U.S.