Goco.io Strengths, Domain Expertise, and Key Differentiators
GoCo is easy to use all-in-one HR and benefits platform for businesses. Founded in 2015 and headquartered in Houston, TX, the company’s mission is to help businesses and their employees gain freedom from scattered, complex, and outdated systems by delivering a delightful experience.
GoCo.io boasts several key differentiators that set it apart in the competitive HR tech landscape. Notably, the company's domain expertise and deep understanding of HR challenges have led to the development of an all-in-one HR and benefits platform that caters to businesses of all sizes and industries. Their commitment to delivering a delightful user experience has resonated with customers, establishing them as a trusted solution provider.
Goco.io Recent Developments
The acquisition was driven by numerous compelling factors, and Ms. Bobosikova elaborated on the manifold advantages arising from this collaboration. By combining their respective strengths and expertise, both WFHomie and GoCo.io aim to unlock substantial growth opportunities and further elevate their position in the competitive market landscape.
As part of this deal, GoCo.io gained access to the valuable assets of WFHomie and effectively integrated three of the firm's skilled team members out of the total six. This strategic allocation of talent further reinforces GoCo.io's commitment to enhancing its capabilities and expanding its service offerings.
Goco.io Mergers and acquisitions (M&A) Activities
In February 2023, the prominent employee experience startup, WFHomie, successfully concluded an acquisition deal with the distinguished human resources management platform, GoCo.io. Under this strategic move, GoCo.io welcomed the accomplished co-founder and CEO of WFHomie, Pavla Bobosikova, who expressed her confidence in the synergistic potential of the acquisition.
In September 2022, GoCo.io announced the successful completion of a $15 million funding round, led by esteemed investor ATX Venture Partners. This substantial investment has brought the total recent funding to an impressive $27.5 million, underscoring the confidence investors have in the company's potential.
The infusion of capital has provided GoCo.io with the necessary resources to embark on an ambitious expansion and advancement of its award-winning platform. The company recently unveiled its most significant release to date in Q4, showcasing an array of new features and enhancements. These include over 50 new integrations, an enhanced user interface, visually engaging reports, and data-driven insights.
In line with its strategic growth plans and in preparation for the launch of its new product, GoCo.io has doubled its full-time employee headcount over the past 24 months. This move reflects the company's commitment to building a talented and dedicated workforce capable of driving innovation and delivering exceptional client service.
With this latest funding, GoCo.io is well-positioned to further innovate in the HR technology space and solidify its position as a leader in providing industry-leading solutions for SMBs. The company's focus on automating manual HR tasks will undoubtedly empower businesses to streamline their operations, enhance productivity, and foster a seamless employee experience. By continuing to prioritize client needs and invest in cutting-edge technology, GoCo.io remains committed to delivering best-in-class solutions to its valued customers.
Goco.io Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Goco.io applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Goco.io and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified GoCo customers.
Goco.io Overview
Ownership: - Salesforce Ventures, ATX Seed Ventures, New Media Investment Group, GIS Strategic Ventures, Guardian Life Insurance
Number of Employees: 130
Functional Market: Absence and Leave Management, Time and Attendance, Core HR, Payroll, Benefits Administration, Compliance, Onboarding, Performance Management,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Goco.io Key Cloud and HCM Applications
GoCo
Goco.io HCM and Cloud HCM Applications Revenues, $M:
Type/Year | 2022 | 2023 | YoY Growth, % |
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Total Revenues, $M | Subscribe | Subscribe | Subscribe |
HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Goco.io Revenue Breakdown by Type:
Goco.io HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Goco.io HCM Applications Revenues By Verticals, $M:
Goco.io Total and HCM Applications Revenues by Region:
Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
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Americas | Subscribe | Subscribe | Subscribe |
EMEA | Subscribe | Subscribe | Subscribe |
APAC | Subscribe | Subscribe | Subscribe |
Total | Subscribe | Subscribe | Subscribe |
Goco.io Direct vs Indirect sales
Region | Direct Sales | Indirect Sales | Total |
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Type % | Subscribe | Subscribe | Subscribe |
Revenues, $M | Subscribe | Subscribe | Subscribe |
Goco.io Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Goco.io Customers
No. of Goco.io Customers: 6200
No. of Goco.io HCM Applications Customers: x
No. of Goco.io Cloud HCM Customers: 6200
No. of Goco.io Cloud HCM Subscribers: 100000
With around 6,200 customers spanning diverse verticals, GoCo.io's market reach is impressive. Their clientele includes retail and gym franchises, school districts, technology companies, real estate brokerages, healthcare hospitality organizations, and more.
Some notable customer wins include RhinoPro Truck Outfitters, Real-Time Medical Systems, Dom & Tom, Synstelien Community Services, Comit Developers, Caliper Foods, Stoughton School District, Toppers Pizza, QuotaPath, Hammer Down, SHIFT, Search Wizards, Textbroker, among others. This diverse customer base highlights the platform's versatility and adaptability to meet the needs of various industries.
Goco.io Market Opportunities, M&A and Geo Expansions
The market opportunities for GoCo.io are vast, both on the horizontal and vertical levels. As HR technology adoption continues to surge, businesses of all sizes seek cloud-based, integrated HR and benefits platforms. GoCo.io's freemium approach has proven effective in attracting customers, offering them a taste of the platform's capabilities before they commit. With the right marketing and nurturing strategies, GoCo.io can capitalize on this approach to expand its user base further.
Geographically, there is untapped potential for GoCo.io to enter new regions, both domestically and internationally. By tailoring their offerings to local regulations and preferences, they can gain a competitive edge in emerging markets.
Goco.io Risks and Challenges
Despite its strengths, GoCo.io faces several risks in the competitive landscape. Internal challenges such as scaling up their operations and maintaining product excellence while growing rapidly could strain resources and lead to potential bottlenecks.
Externally, the HR technology space is continually evolving, with established players and new entrants competing for market share. Staying ahead of emerging trends and customer demands will be crucial to retaining its position as a market leader.
Go-to-market challenges could arise from balancing their freemium model with the need for sustained revenue growth. Ensuring the platform's value proposition resonates with both free users and paying customers will require careful strategizing.
Goco.io Ecosystem, Partners, Resellers and SI
GoCo.io's strategic partnerships play a significant role in expanding their ecosystem. Collaborations with employee benefit insurance agencies like OneDigital and PayneWest, as well as general agencies like Word & Brown, have enabled GoCo.io to enhance their insurance benefits services for clients.
Moreover, their seamless integration with leading payroll providers, including ADP, Paychex, Paylocity, and Intuit Quickbooks, demonstrates GoCo.io's commitment to offering a comprehensive and streamlined HR solution. This integration provides businesses with the flexibility to maintain their existing benefits brokers and payroll providers while leveraging GoCo.io's platform.
Goco.io Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- Goco.io Public Cloud and Infrastructure (IaaS)
- Goco.io Platform (PaaS)
- Goco.io Application Delivery
- Goco.io Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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