Gusto

Gusto is a leading payroll and HR platform designed specifically for small and medium-sized businesses (SMBs). Launched in 2012, Gusto has transformed traditional payroll processes with its modern, web-based interface, allowing over 300,000 customers to manage payroll, tax filings, and employee benefits seamlessly. In 2023, Gusto generated an impressive $600 million in revenue, marking a 33% increase from the previous year, and boasts a valuation of $9.5 billion, significantly outpacing legacy payroll companies.

Gusto's core offerings include payroll services, an expansive ecosystem of HR tools, and innovative fintech solutions. The payroll product features automated tax filing and integrations with popular SMB tools like QuickBooks and Xero. Gusto has also ventured into HR services, providing hiring, onboarding, and compliance solutions, while its Gusto Wallet app offers employees banking services and financial wellness features, creating a high-margin revenue stream.

What sets Gusto apart from competitors is its focus on integration and user experience. Unlike all-in-one HR solutions that may lack flexibility, Gusto's ecosystem approach allows for seamless partnerships with other services, enhancing its payroll capabilities. As the demand for remote work continues to rise, Gusto is well-positioned to expand its offerings, including global payroll solutions and embedded payroll APIs, ensuring it remains at the forefront of the evolving HR landscape.