Gustorevenue, valuation & funding
Payroll SoftwareSan Francisco, CaliforniaFounded 2012CEO Joshua Reeves
Gusto is a cloud-based payroll and human resource management software provider based in San Francisco, California, USA. The platform offers a range of services to help small businesses manage their payroll, benefits, and HR-related tasks.
Gusto revenue & ARR
Gusto's annual recurring revenue passed $1B in May 2026 (TechCrunch).
All 6 revenue readings, with sources
| As of | Revenue | Source |
|---|---|---|
| Dec 2018 | $100M | – |
| Aug 2021 | $200M | – |
| Jan 2022 | $290M | – |
| Nov 2023 | $500M | Fortune |
| Oct 2024 | $735.5MEST. | GetLatka estimate |
| May 2026 | $1B | TechCrunch |
– source not recorded
Gusto valuation
Gusto is privately held, so there is no Gusto stock to buy. Investors valued it at $9.3B in its June 2025 Valuation.
Valuation history$9.3B Valuation 2025$9.5B Series E 2022$9.5B Series E 2021$3B Series D 2019$2B Series C 2018$1B Series B 2015
Gusto funding rounds & investors
Gusto has raised $746M across eight rounds since 2012. The latest was a $55M Series E in May 2022.
| Date | Round | Raised | Valuation | Led by | Source |
|---|---|---|---|---|---|
| May 2022 | Series E | $55M | $9.5B | – | |
| Aug 2021 | Series E | $175M | $9.5B | T | Forbes |
| Jul 2019 | Series D | $200M | $3B | – | |
| Jul 2018 | Series C | $140M | $2B | – | |
| Dec 2015 | Series B | $90M | $1B | – | |
| Jun 2015 | Series B | $60M | $560M | – | |
| Feb 2014 | Series A | $20M | $127M | – | |
| Nov 2012 | Seed | $6M | $32M | – | |
| Total raised | $746M |
Gusto competitors
Gusto competes most directly with Paychex.
| Company | Revenue | Funding | Employees | Customers | Founded |
|---|---|---|---|---|---|
 Paychex | $6.5B | – | 16K | 740K | 1971 |
| Gusto | $1B | $746M | 4,008 | 400K | 2012 |
#2 of 335 Payroll Software companies by revenue · category median $4.5M · See the ranking
Gusto CEO, founders & employees
Joshua Reeves founded Gusto in 2012 with Edward Kim and runs it as CEO. Gusto has 4,008 employees (November 2025), up from 3,100 a year earlier.
- Joshua ReevesCo-founder & CEO
- Edward KimCo-founder and Head of Technology
BoardAnne Raimondi, Jason Green, Hemant Taneja, Wayne Chang, Edw ard Kim
InvestorsDaniel Gross, Pejman Nozad, Laela Sturdy, Bobby Yazdani
All 8 headcount readings, with sources
| As of | Employees | Source |
|---|---|---|
| Nov 2025 | 4,008 | – |
| 2025 | 3,708EST. | reveliolabs.com estimate |
| Sep 2024 | 3,100 | Forbes |
| Nov 2022 | 2,000 | – |
| Nov 2021 | 1,000 | – |
| Dec 2018 | 726 | – |
| Jul 2018 | 525 | – |
| Dec 2015 | 300 | – |
Gusto FAQ
How much money does Gusto make?
Gusto brings in about $1B a year: its annual recurring revenue was $1B in May 2026, according to TechCrunch.
How much is Gusto worth?
Companies don't publish a net worth. The closest figure is Gusto's valuation: $9.3B, set in Jun 2025.
Who owns Gusto?
Gusto is privately held by its founders, employees and investors, including T.
Is Gusto publicly traded?
No. Gusto is a private company, so its shares are not listed on a stock exchange.
How much funding has Gusto raised?
$746M across 8 rounds; the latest was a $55M Series E in May 2022.
Who is the CEO of Gusto?
Joshua Reeves, a co-founder.
Who founded Gusto?
Edward Kim and Joshua Reeves, in 2012.
How many employees does Gusto have?
About 4,008 as of November 2025.
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How this page is sourced
4 from public sources · 2 estimates. Founder figures link to the second they were said; public figures name their source; estimates are marked EST. and say whose they are. Not financial advice.
Updated Oct 7, 2026Data disclaimerReport a correctionClaim this profileRun Gusto? Join the podcast