This payroll company just added to their bankroll

Gusto has just authorized a new Series D-2 preferred stock which will double the valuation to $7.5 billion if all Series D-2 shares are issued. The online payroll, HR, compliance and benefits platform is previously backed by Fidelity Management & Research, Generation Investment Management, Dragoneer, General Catalyst, T. Rowe Price, CapitalG and Emergence Capital to name a few. The most recent Series D-2 round follows $188 million raised for Series D. The terms surrounding the Series D-2 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 $26.00, an up round from Series D at $13.3124.

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

 

Deal Breakdown

*$7.5b valuation assumes issuance of all Series D-2 shares

Q2 2021 Reconstitution Report

 

Deals and post-money valuations on the new 17 components to the Prime Unicorn Index

The Prime Unicorn Index provides a unique opportunity for institutional investors  to access a fair representation of the private markets where they can make an investment on the future of their portfolios, whether they want to go long or short.

Additionally, the Index provides up-to-date empirical data used to track today’s private capital markets and offer ways to offset exposure in regard to direct private market investments by taking advantage of the trading opportunities presented by Prime Unicorn Index.

Please contact us for information on trading opportunities with the Index.

Follow Prime Unicorn Index on Twitter and LinkedIn and be the first to know about early funding rounds and changes in valuations of these fast growing companies listed on the Index.

Bloomberg Ticker: PUNICORN

Reuters Ticker: .PUNICORN