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GUSTO, INC.
Gusto, Inc.
Payroll, benefits, and human resource management software ยท San Francisco ยท United States ยท Founded ยท 2011 ยท โ‰ˆ ยท 2,400 ยท employees

Gusto, Inc. Funding โ€” Last Valued at $9.3B

Private

Gusto, Inc. has raised $1.2B across 8 funding rounds, plus 5 undated rounds. The company is valued at $9.3B (tender).

ProfileValuationFundingCompetitorsStock & IPOHow to invest
Gusto, Inc. funding ยท at a glance
Total raised, all rounds
$1.2B
some round sizes not disclosed
Funding rounds
8
plus 5 undated rounds
Latest round
Jun 2025
Jun 2025
Lead on that event
Ontario Teachers' Pension Plan
employees and former employees
2025
About Gusto, Inc.

Gusto has raised more than $746 million from investors, and its valuation reached $9.6 billion in 2023 before settling at $9.3 billion based on a June 2025 employee tender offer, even as annual revenue climbed past $1 billion.

Funding timeline

The Gusto, Inc. funding timeline

8 funding rounds, the latest highlighted.

2011
Gusto, Inc. founded

Gusto, Inc. was founded in 2011, United States.

UNDATED
Seed, Series E, Employee Tender Offer, Series D, Series F

No date is disclosed for this round.

FEB 2014
Series A

A primary round โ€” the company sells new shares to investors it selects. $20M raised, led by General Catalyst.

Valuation basisAmount$20MPrice / shareLeadGeneral Catalyst
APR 2015
Series B

General Catalyst, Emergence Capital, Ribbit Capital, KPCB. $60M raised, led by CapitalG.

Valuation basisAmount$60MPrice / shareLeadCapitalG
DEC 2015
Series B extension

A primary round โ€” the company sells new shares to investors it selects. $22.2M raised.

Valuation basisAmount$22.2MPrice / shareLead
OCT 2016
Series C

General Catalyst, Kleiner Perkins Caufield & Byers, 137 Ventures, Emergence Capital, T Rowe Price. $90M raised, led by CapitalG.

Valuation basisAmount$90MPrice / shareLeadCapitalG
JUL 2018
Series C extension

General Catalyst, Kleiner Perkins, 137 Ventures, Emergence Capital, T Rowe Price, Dragoneer, Y Combinator Continuity Fund, MSD Capital. $145M raised, led by CapitalG.

Valuation basisAmount$145MPrice / shareLeadCapitalG
JUL 2019
Series D at $3.8B post-money

Generation Investment Management, Dragoneer Investment Group, General Catalyst, T Rowe Price. $200M raised, led by Fidelity.

Valuation basispost-moneyAmount$200MPrice / shareLeadFidelity
MAY 2022
Series E extension

A primary round โ€” the company sells new shares to investors it selects. $55M raised, led by T. Rowe Price.

Valuation basisAmount$55MPrice / shareLeadT. Rowe Price
IPO: NOT ANNOUNCED

No filing has been made.

Funding rounds

Gusto, Inc. funding rounds in full

8 dated rounds, newest first.

Round
Date
Amount
Valuation
Price / share
Lead investors
Participation
Tender offer LATEST
Jun 2025
$200M
โ€”
โ€”
Ontario Teachers' Pension Plan
employees and former employees
Series E extension
May 2022
$55M
โ€”
โ€”
T. Rowe Price
โ€”
Series D
Jul 2019
$200M
$3.8Bpost-money
โ€”
Fidelity
Generation Investment Management, Dragoneer Investment Group, General Catalyst, T Rowe Price
Series C extension
Jul 2018
$145M
โ€”
โ€”
CapitalG
General Catalyst, Kleiner Perkins, 137 Ventures, Emergence Capital, T Rowe Price, Dragoneer, Y Combinator Continuity Fund, MSD Capital
Series C
Oct 2016
$90M
โ€”
โ€”
CapitalG
General Catalyst, Kleiner Perkins Caufield & Byers, 137 Ventures, Emergence Capital, T Rowe Price
Series B extension
Dec 2015
$22.2M
โ€”
โ€”
โ€”
โ€”
Series B
Apr 2015
$60M
โ€”
โ€”
CapitalG
General Catalyst, Emergence Capital, Ribbit Capital, KPCB
Series A
Feb 2014
$20M
โ€”
โ€”
General Catalyst
โ€”
Seed
โ€”
$6.1M
โ€”
โ€”
โ€”
Aaron Levie, David O. Sacks, and others
Series E
โ€”
$175M
โ€”
โ€”
T. Rowe Price Associates
Fidelity, Dragoneer, General Catalyst, Emergence Capital, Acrew, 137 Ventures, Cross Creek, Durable Capital Partners, Emerson Collective, Franklin Templeton, Friends & Family Capital, Generation Investment Management, Glynn Capital, Sands Capital
Employee Tender Offer
โ€”
โ€”
$9.3Btender
โ€”
โ€”
employees
Series D
โ€”
$50M
$1Bpost-money
โ€”
โ€”
โ€”
Series F
โ€”
$200M
$3.8Bpost-money
โ€”
โ€”
โ€”
Gusto, Inc. ยท investors

Investors

T. Rowe Price AssociatesLEADOntario Teachers' Pension PlanLEADT. Rowe PriceLEADFidelityLEADCapitalGLEADGeneral CatalystLEADKleiner Perkins Caufield & ByersY Combinator

Frequently asked questions

How can I get exposure to Gusto, Inc.?โ€บ

The routes section explains what is realistically available for a company at this stage.

Is Gusto, Inc. publicly traded?โ€บ

No. Gusto, Inc. is a private company; its shares do not trade on a public exchange.

What is Gusto, Inc.'s valuation?โ€บ

The last valuation is $9.3B.

Who has invested in Gusto, Inc.?โ€บ

Lead investors for each round are in the funding timeline.

Who are Gusto, Inc.'s competitors?โ€บ

The closest payroll, benefits, and human resource management software peers are on the competitors page.

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