Gustorevenue, valuation & funding
Payroll Software525 20th St., San 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 | TechCrunchsurpassed, actual trailing revenue |
– source not recorded
Gusto valuation
Gusto is privately held, so there is no Gusto stock to buy. Investors valued it at $9.3B in June 2025.
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 estimateestimates vary 2,400-3,700 |
| Sep 2024 | 3,100 | Forbes |
| Nov 2022 | 2,000 | – |
| Nov 2021 | 1,000 | – |
| Dec 2018 | 726 | – |
| Jul 2018 | 525 | – |
| Dec 2015 | 300 | – |
Gusto FAQ
What is Gusto's revenue?
Gusto's annual recurring revenue passed $1B in May 2026, according to TechCrunch.
What is Gusto's valuation?
Investors valued Gusto at $9.3B in June 2025, according to Fortune.
How much funding has Gusto raised?
Gusto has raised $746M across eight funding rounds. The latest was a $55M Series E in May 2022.
Who owns Gusto?
Gusto is privately held. Its lead investors include T.
How many employees does Gusto have?
Gusto has 4,008 employees as of November 2025.
Who is the CEO of Gusto?
Joshua Reeves is the CEO of Gusto and co-founded the company in 2012.
Who founded Gusto?
Edward Kim and Joshua Reeves founded Gusto in 2012.
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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