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
    factoHR

    factoHR

    Payroll Software

    $849K

    28

    2004

    Payroll Software

  2. 02
    PayrollHero

    PayrollHero

    Payroll Software

    Provider of a subscription-based cloud software platform intended to ensure that the right employee is in the right place at the right time. The company's platform uses employees' faces and GPS location as the metric for clocking in and out, enabling trans

    $786K

    10

    2011

    Payroll Software

  3. 03
    Puzzl

    Puzzl

    Payroll Software

    API that automates instant payroll.

    $784K

    8

    2019

    Payroll Software

  4. 04
    Gig Wage

    Gig Wage

    Payroll Software

    Help businesses pay independent contractors|Gig Wage is a fintech payroll company for gig workers and contractors.

    $720K

    $15M

    300

    7

    2014

    Payroll Software

  5. 05
    ClickandBuy

    ClickandBuy

    Payroll Software

    Provider of a payment system on the Internet. The company is an international full-service provider for electronic payments and billing.

    $595K

    17

    1999

    Payroll Software

  6. 06
    Figopara

    Figopara

    Payroll Software

    Developer of a supplier finance platform. The company's platform allows buyers to stretch their payment terms with a single click and suppliers to immediately collect their post-paid receivables early and discounts the e-invoices of the companies with the

    $483K

    13

    2017

    Payroll Software

  7. 07
    Payworks

    Payworks

    Payroll Software

    Provider of a payment gateway platform intended to transform Point of Sale. The company's cloud-based gateway makes card acceptance at the modern-day Point of Sale quick, easy and cost-efficient, enabling businesses to power card acceptance and optimize pa

    $407K

    19

    2012

    Payroll Software

  8. 08
    Expaticore

    Expaticore

    Payroll Software

    Immedis is a specialist division of The Taxback Group, a multi award-winning global financial services group, with over 1,100 employees in over 33 offices worldwide, providing payroll, tax and travel services to organizations and individuals in over 100 co

    $225K

    3

    2002

    Payroll Software

  9. 09
    paiyroll®

    paiyroll®

    Payroll Software

    Founded by a team of engineers with a simple vision that pay could be automated as an online payroll service with Robotic Payroll Automation (RPA). The pay app that every worker loves to use: We let workers access their pay on-demand (daily pay). No more

    $93K

    3

    2017

    Payroll Software

  10. 10
    Elohna

    Elohna

    Payroll Software

    Developer of cloud-based business management platform designed to simplify accounting for small businesses. The company's SaaS platform utilizes a standardized interface that streamlines customer acquisition, accounting processes and connects businesses wi

    $50K

    1

    2013

    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.