Atomic, a Salt Lake City, UT-based market provider of payroll connectivity solutions, raised $40M in Series B funding.
The round was led by Mercato Partners and Greylock, with participation from Core Innovation Capital, Portage, and ATX Venture Partners.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Jordan Wright and CTO Scott Weinert, Atomic is a provider of payroll APIs, used by 12 of the largest fintech firms, including digital-first neobanks, alternative lenders, and digital brokerages, as well as over 70 financial institutions and partners. The company’s payroll integrations provide the infrastructure to connect consumers to their financial data for verification of income and employment, automating set-up and updating of direct deposits, repaying financial obligations from their paycheck, optimizing tax withholdings, and accessing earned but unpaid wages.
The funding follows a Series A round of $22m announced in October 2021.