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As of Jan 2020, these 39 SaaS companies are the largest in the Payroll Software space.

The Top Payroll Software SaaS Companies

This list tracks the largest private B2B Payroll Software SaaS companies by revenue. In total, this list features 39 companies with combined revenues of $1.2B.

These companies have raised a total of $1.2B. Together, these Payroll Software saas companies serve 14M customers and employ over 7K on their teams.

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Highlights

02
D
Deel

Payroll Software

Deel is a global payroll solution which helps businesses hire anyone, anywhere. Using a tech enabled self serve process, you can now hire independent contractors or full time employees in over 150 countries, compliantly and in minutes.

$100M
$629M
5K
550
2019
United States
03
O
Oyster

Payroll Software

Oyster is a Distributed HR platform that empowers companies to hire, pay, and care for talented teammates regardless of location.

$56M
$224M
80
469
2020
United States
04
CP
CloudPay

Payroll Software

CloudPay provides managed global payroll services to multinational organizations through a single, unified SaaS solution. By delivering end-to-end managed payroll services through an innovative platform, CloudPay ensures consistent and compliant payroll around the globe while reducing operating costs and minimizing manual processes. CloudPay’s services and technology standardize the payroll function across geographies, helping organizations increase efficiency, streamline compliance, and achieve greater visibility into payroll performance and costs. The CloudPay solution is backed by deep industry expertise earned over twenty-plus years delivering services to over 2,500 multinational entities. CloudPay’s solution guarantees accurate payroll processing across 130+ countries in more than twenty-five languages. Positioned as a Leader in NelsonHall’s 2019 Payroll Outsourcing NEAT assessment and as an Achiever in Everest Group’s 2019 Multi-Country Payroll Platform report, CloudPay has won multiple awards for its technology and service, including Global Payroll Transformation Project of the Year Award (2017), Payroll Software Product of the Year (2018) and the prestigious Global Payroll Supplier of the Year (2019). To learn more, visit www.cloudpay.net.

$49M
$128M
4K
469
1996
United Kingdom
05
N
Netchex

Payroll Software

Developer of web based software providing human resource management services. The company provides a software-as-a-service human resource platform which specializes in payroll services, employee benefits, attendance and reporting.

$36M
-
5K
224
2003
United States
06
S
Skello

Payroll Software

Developer of HR management software intended to schedule and optimize staff in restaurants. The company creates a tool which manages schedules, communicates with teams in real time, automatically processes payroll and manages the activity at several points of sale, enabling restaurateurs to optimize the management of their staff and free up their schedules.

$15M
$54M
-
150
2016
France
07
O
Ontop

Payroll Software

Taxes, Onboarding and Payroll manager for international teams

$13M
$26M
-
130
2020
United States
08
S
Salarium

Payroll Software

Salarium is a SaaS end-to-end payroll automation company that provides enterprise payroll system software for small, medium and large businesses.

$9M
-
-
100
2013
Singapore
09
PA
PayAsia

Payroll Software

Provider of payroll and human resource business process outsourcing services intended to provide consistent, accurate, and timely processing of companies payroll. The company specializes in outsourced payroll service in 18 countries across Asia Pacific and India, enabling clients to grow through the process and technology-driven regional solutions to provide quality delivery.

$9M
-
1K
129
2006
Singapore
10
PS
Patriot Software

Payroll Software

Patriot Software offers American small businesses online accounting and payroll software. We have a passion for small business, hard work, and delivering simple, yet powerful, software you can afford. The best part is...we have fun doing it! Patriot Software has over 300+ employees all over the United States of America. We offer competitive compensation and a wide range of benefits, including paid vacation after 90 days, health insurance, HSA and FSA accounts, dental, vision, 401(k) with company match, life insurance, disability insurance, and a stock options program. Looking for a stimulating new career in a fast-growing company on the cutting-edge of technology? We want to hear from you. Check out our careers page at www.patriotsoftware.com/about/careers.

$9M
$4M
1K
104
2002
United States
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What are the fastest growing companies doing?


83 of the fastest growing companies that also have the most revenue have a clear expansion revenue strategy. On average, sales reps are selling plans where starting contract value is $4,606.

Those same companies employ 1,678 sales reps that carry a quota. The most common compensation plan used by these companies is a 1:5 ratio of sales rep on target earnings (OTE) to quota. Meaning if a rep can earn $200k in base and commissions, quota target for that year is set at 5x, or $1m in new ARR closed.

If you’re going to build a high growth SaaS company, you need to figure out how to scale with quota carrying sales reps.

Which CEO’s are the most efficient capital allocators?


We can measure this a variety of ways. Which company has the most revenue per employee? What about dollars in revenue compared to dollars raised? What about time, which founder went from $0 to $10m the fastest?

Looking deeper at dollars in revenue compared to dollars raised, bootstrappers take the cake because they self fund (denominator zero). When we look at companies that have raised at least $1m, Actito is the clear winner generating $21m in revenue, growing 100% yoy, on just 1m raised ($.05 dollars raised for every $1 of revenue).

Omnisend comes in a close second with $.08 dollars raised for every dollar of revenue. Doing $19m as of December 2020. Proposify gets honorable mention with $0.46 dollars raised (3.25m) for every dollar of revenue ($7m).

The worst performers here are companies like YayPay with $3.68 dollars raised ($14m) per dollar of revenue ($3.8m). Many of the worst performers just did a round of funding and haven’t had a chance to deploy to drive growth yet. That makes this data less valuable but still illustrative.