Welcoming New Investors to the Gusto Community

At our new San Francisco office in the Dogpatch neighborhood

Our mission at Gusto is to create a world where work empowers a better life — for everyone, everywhere — and this mission has three pillars. These pillars are the impact we aspire to have on our customers — the employers and employees we serve every day.

  1. Peace of Mind
  2. Great Place to Work
  3. Personal Prosperity

We are proud to serve over 1% of all employers in America, who we help with mission-critical tasks like payroll, benefits and HR. But, this is a multi-decade mission for us and we are still very early in our journey. To support us as we build Gusto for the long term, I’m thrilled to welcome some new investors to the Gusto community as a part of our Series C financing:

  • Henry Ellenbogen from T. Rowe Price: Henry’s investment approach focuses on finding durable, sustainable, compounding businesses, which is how we are building Gusto.
  • Ken Chenault from General Catalyst: Ken has been a champion of small business for decades in his former role as CEO of American Express, and we’re thrilled to welcome him to the Gusto community.
  • Dragoneer Investment Group: They invest in companies for the long term, are attracted to teams that are customer-driven, and have backed some of the most iconic technology companies over the past 10 years.
  • Y Combinator Continuity Fund: This is Y Combinator’s late-stage growth equity arm, and we’re excited to strengthen our already close relationship with YC as we scale Gusto over the coming years.
  • MSD Capital (Michael Dell)

These investors share our long-term mindset, align with our values, and care about our mission. They join our existing investors, whom we’re proud to have as a part of the Gusto community, and who have been incredibly helpful over the years.

“We are thrilled to deepen our support for Josh and the Gusto team. They’ve created an incredible platform for small businesses, which are ultimately responsible for two-thirds of the net new jobs and half of the U.S.’s GDP. Gusto is supporting entrepreneurs and family-run companies that have been left behind by others, and they’ve become an integral part of how these companies are run.”
 — Ken Chenault, General Catalyst, former CEO of American Express
“We have been consistently impressed with Gusto’s uncompromising commitment to customer experience and product. We believe the resulting customer-love will drive sustained growth for Gusto in a massive and underserved market. We are thrilled to have the opportunity to support the business for years to come.”
 — Marc Stad and Christian Jensen, Dragoneer Investment Group
“We have been a partner to Gusto since the beginning, and it is one of those rare companies with a unique combination of best-in-class product, strong internal culture, and a leadership team focused on building for multiple decades. They are on a path to be amongst the most successful Y Combinator companies, and we are excited to deepen our partnership with Gusto.”
 — Anu Hariharan, Y Combinator Continuity Fund

To our customers, I want to say thank you for choosing Gusto. We are grateful for the opportunity to serve you. We exist to make your life better, and we are honored to partner with you as you build your businesses, and progress through your work life. These additional resources will enable us to build an even more powerful product, so we can provide more value to you, and we always welcome your feedback. Our goal is to get better every day.

To the Gusto employees (“Gusties”) that have joined us on this journey, I want to say thank you. Everything we do is made possible by your hard work and dedication to serve our customers. We have big goals as a business, but because of you, I’m just as proud of how we’re achieving those goals. You embody service mindset and builder mentality while sharing a passion to help small businesses. I am grateful to be on this journey with you every day, as we endeavor to create a world where work empowers a better life — for everyone, everywhere.

For anyone who wants to join us on our journey, we’re hiring!

#withGusto,
Josh
Co-Founder and CEO of Gusto

P.S. Here’s our press release announcing the Series C