Payroll and benefits all in one…

Gusto (ZenPayroll) is an online payroll, HR, compliance and benefits platform that joined the Prime Unicorn Index in the quarterly reconstitution. The most recent $188 million Series D round included new investors Fidelity Management & Research and Generation Investment Management; and follows $135 million raised for Series C. The terms surrounding the Series D include pari passu liquidation preference with all other preferred, and conventional convertible meaning they will not participate with common stock if there are remaining proceeds. The most recent price per share is $13.3124, an up round from Series C at $7.6028.

Building a people platform for small businesses has been our plan from the beginning. We started with payroll in 2012 because it’s core to every business. We added employee self-onboarding in 2013; health insurance benefits in 2015; 401(k) in 2016; time-off requests in 2017; time tracking and flexible pay in 2018; and there’s much more to come. We’re going to continue doubling down on research and development, so we can further expand Gusto’s people platform and solve even more pain points for our customers. – Gusto

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Bloomberg Ticker: PUNICORN

Reuters Ticker: .PUNICORN

Q4 2020 Reconstitution Report

 

Deals and post-money valuations on the new 13 components to the Prime Unicorn Index