The Top Payroll Software SaaS Companies

As of Jan 2020, these 35 SaaS companies are the largest in the Payroll Software space. (Click to apply)

This list tracks the largest private B2B Payroll Software SaaS companies by revenue. In total, this list features 35 companies with combined revenues of $976.4M.

These companies have raised a total of $3.0M. Together, these Payroll Software saas companies serve 300 customers and employ over 6K on their teams.

$0 - $1M ARR
  1. factoHR $849.5K
  2. PayrollHero $786.0K
  3. Puzzl $784.0K
  4. Gig Wage $720.0K
  5. ClickandBuy $595.4K
$1M - $5M ARR
  1. Adelyce $4.8M
  2. PayLease $4.8M
  3. ADP $3.8M
  4. Telr $3.8M
$5M - $10M ARR
  1. Salarium $9.5M
  2. PayAsia $9.0M
  3. Deel $8.0M
  4. Netchex $5.2M
$10M+ ARR
  1. Paycom $841.4M
  2. CloudPay $49.0M
  1. 11
    ADP

    ADP

    Payroll Software

    Automatic Data Processing, Inc., commonly known as ADP, is an American provider of human resources management software and services.

    $4M

    $53M

    42

    1949

    Payroll Software

  2. 12
    Telr

    Telr

    Payroll Software

    Provider of an online payment platform designed to offer a one stop e-commerce solution. The company's Telr online payment platform offers settlement to online international merchants in multi-currencies (in addition to USD and EUR) and in multiple countri

    $4M

    $14M

    48

    2013

    Payroll Software

  3. 13
    Togetherwork

    Togetherwork

    Payroll Software

    Togetherwork is a developer of software and solutions. It provides Software-as-a-Service solutions to groups and organizations for management, administration and payments. The company was founded in 2015 and is headquartered in Brooklyn, New York.

    $4M

    83

    2015

    Payroll Software

  4. 14
    Skello

    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

    $3M

    $7M

    110

    2016

    Payroll Software

  5. 15
    CIPHR

    CIPHR

    Payroll Software

    Developer and provider of human capital management software. The company develops human capital management software under the brand name CIPHR which is used for personnel management , employee training administration, absence recognition and management and

    $3M

    153

    1982

    Payroll Software

  6. 16
    WorkPay

    WorkPay

    Payroll Software

    HR and payroll processing from SMBs in Africa-Gusto for Africa.

    $2M

    22

    2020

    Payroll Software

  7. 17
    MishiPay

    MishiPay

    Payroll Software

    Developer of a mobile self-checkout technology designed to make online payments. The company's technology allows shoppers to pick up a product they wish to buy, scan the barcode and automatically pay with their phone, enabling shoppers to make secure cashl

    $2M

    $8M

    44

    2015

    Payroll Software

  8. 18
    HappyPal

    HappyPal

    Payroll Software

    HappyPal reinvents employee perks with a SaaS and Payment solution

    $2M

    $2M

    19

    2019

    Payroll Software

  9. 19
    Mangrove Software

    Mangrove Software

    Payroll Software

    Provider of Human Capital Management software. The company develops, sells and implements human resource, payroll, benefits and talent management software.

    $2M

    18

    1994

    Payroll Software

  10. 20
    Zenegy

    Zenegy

    Payroll Software

    Provider of an interactive cloud-based payroll system intended to provide an overview of the entire payroll administration of companies. The company's cloud based payroll system connects companies, accountants and employees on one site, enabling businesses

    $1M

    19

    2017

    Payroll Software

11-20 of 35

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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.