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. 01
    Salarium

    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

    117

    2013

    Payroll Software

  2. 02
    PayAsia

    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

    $9M

    129

    2006

    Payroll Software

  3. 03
    Deel

    Deel

    Payroll Software

    Payroll for remote teams

    $8M

    82

    2019

    Payroll Software

  4. 04
    Netchex

    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.

    $5M

    224

    2003

    Payroll Software

  5. 05
    Sprout Solutions

    Sprout Solutions

    Payroll Software

    Founded in 2012, Kickstart Ventures is the corporate venture capital investment arm of Globe Telecom. The firm seeks to invest in enterprise solutions and SaaS, fin-tech, health-tech, ed-tech, eCommerce and marketplace and digital lifestyle sectors.

    $5M

    $5M

    205

    2003

    Payroll Software

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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.