Home News HR Tech Startup Gusto Raises $175M Series E With Big Plans for Denver Hub

HR Tech Startup Gusto Raises $175M Series E With Big Plans for Denver Hub

HR Tech Startup Gusto Raises $175M Series E With Big Plans for Denver Hub

Gusto, an HR tech platform with a massive Denver presence, has raised a $175 million Series E funding round with plans to continue growing in the Mile High City.

The company, which provides payroll, benefits and HR service software for small businesses, first opened a Denver presence in 2015.

Since then, the local office has been the fastest growing of Gusto’s brick-and-mortar hubs and is now the company’s “largest home base,” a spokesperson confirmed to Denver Business Journal.

The latest round was led by T. Rowe Price Associates and includes a variety of new and existing investors. With this capital, Gusto CEO and co-founder Joshua Reeves said the company is looking to provide additional resources to small businesses during this challenging time.

“The economy is reopening, but the complexities of owning a business aren’t going away. Our new $175 million Series E funding, which was led by T. Rowe Price Associates, Inc., enables us to collapse time to impact, so that we can work to unblock obstacles and unlock more opportunities that allow entrepreneurs to take care of their teams and grow their businesses for the long term.”

The company reported having more than 200,000 customers across the U.S. and said it has offered 100 new product features over the last year.

And, as it grows its business, Gusto has recently acquired two software services that help small businesses avoid payroll mistakes. The company announced deals for Symmetry, a payroll infrastructure technology, and Ardius, an artificial-intelligence-powered tax credit solution.

“With Symmetry and Ardius now part of Gusto, we’re pushing the entire industry forward in helping businesses avoid costly payroll mistakes and enabling access to tens and hundreds of thousands of dollars in tax credits that they’ve earned,” Reeves wrote.

Despite its founding presence in the Bay Area, Gusto has quickly become one of Denver’s largest tech employers.

Gusto employs more than 1,400 workers in total, with Denver having the highest concentration of that staff. The company reported nearly 800 employees in the Mile High City as of Jan. 1, according to DBJ research.

A Gusto spokesperson said it plans to increase its overall headcount by 50% in the next fiscal year, with a significant portion of that hiring to be done in Denver.

Currently, Gusto is hiring for that list Denver as a possible location. Those roles are split across customer experience, engineering, sales and other departments.

Eskalera, a Startup Led by Goldman Sachs’ Former HR Head Has Launched a Diversity and Inclusion Index

Eskalera, a technology startup led by Goldman Sachs former human resources head Dane Holmes, has launched an index to measure corporate diversity and inclusiveness,...

HSBC to Remove 35,000 Jobs Amidst Covid-19 Crises

HSBC Holdings Plc has restarted cutting as many as 35,000 jobs, three months after the coronavirus outbreak forced it to pause a long-awaited overhaul...

Genpact Offers Its Internal Skill Training Program Globally for Everyone

Genpact has announced Adapt and Rise, a role-based online learning platform that leverages Genpact's expertise honed from delivering real-world change for hundreds of clients....

San-Francisco Based Learning Platform Degreed Has Raised $32 Million in New Funding

The upskilling platform, Degreed, has announced $32 million in new funding in direct response to overwhelming demand for better skill insights, talent mobility, and...

Research Shows the Implications of Workplace Layouts on Employee Productivity and Overall Performance

As some workplaces prepare for the gradual return of employees and overhaul office layouts and seating plans, research has shown this could also have...

Employee Concierge ‘Back Technologies’ Integrates Automation Into Internal HR and Other Support Tasks

Companies are under increasing pressure to automate workflows and digitally service their employees, particularly in light of trends toward remote work. It takes an...

HR Strategies to Help Your Business Navigate the New ‘Normal’

No business is immune to the massive changes resulting from the health crisis. Organizations have proven themselves to be agile, and employees have demonstrated...

The Importance Of Diversity And Inclusion In HR, Hiring, Talent Management: Thoughts From A Top Expert

Michael C. Hyter is one of today’s best-known experts on inclusion and diversity and the author of The Power of Choice: Embracing Efficacy to Drive Your Career and The...

HR Expert Highlights Actionable Steps to ‘Make Real Change’ Against Racism in Your Workplace

Kyra Leigh Sutton, Ph.D., is a faculty member at the Rutgers University School of Management and Labor Relations, where she teaches human resources courses...

Adidas Employees Want Company to Investigate HR Chief for Response to Racial Issues

A group of Adidas employees from around the globe is asking the company to investigate its chief human resources officer, as part of a...