Gusto Strengths, Domain Expertise, and Key Differentiators
Gusto, previously known as ZenPayroll, offers cloud-based payroll, benefits, and human resource management software tailored for US-based businesses. Their platform manages employee and contractor payments while also streamlining the paperwork required for client companies to adhere to tax, labor, and immigration regulations electronically. Operating across all 50 states in the US, Gusto facilitates seamless HR and payroll processes for its users.
Gusto Recent Developments
In February 2024, Nav and Gusto joined forces to aid small businesses in overcoming cash flow challenges. This partnership targets SMBs, offering assistance in locating accessible funding to enhance cash flow stability and expense management. Through this collaboration, Gusto clients gain access to Nav's extensive network of over 160 financing options, encompassing loans, credit cards, banking services, and other business solutions. Additionally, clients can leverage Nav's financial health platform, which provides insights into cash flow and credit, along with recommended financing avenues.
In October 2021, Gusto enhanced its People Platform with additional remote work capabilities, including Mobile Time Tracking and Geolocation, as well as Remote Hiring & Onboarding features.
In July 2020, amid the COVID-19 pandemic, Gusto rolled out over 40 new features utilized by over 6,000 accountants. These enhancements aimed to assist small businesses in accessing crucial aid and relief, maintaining compliance, and supporting their teams. Gusto's efforts resulted in aiding customers in securing over $2 billion in approved PPP loans. Additionally, Gusto developed a comprehensive resource hub to streamline understanding of legislative changes.
Gusto Mergers and acquisitions (M&A) Activities
In June 2021, Gusto completed the acquisition of Ardius, a startup specializing in automating tax compliance, particularly focusing on R&D tax credits. While the terms of the deal were not disclosed, Ardius will operate as an independent entity within Gusto, with the entire team seamlessly transitioning to the Gusto platform.
Gusto Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Gusto 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 Gusto 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 Gusto HR, Gusto Payroll, Gusto Hiring and Onboarding, Gusto Benefits, Gusto Time Kiosk customers.
Gusto Overview
Ownership: - x
Number of Employees: 2400
Functional Market: Absence and Leave Management, Workforce Analytics, Time and Attendance, Core HR, Payroll, Benefits Administration, Compliance, Onboarding, Recruiting, Performance Management, Compensation,
Key Verticals: Automotive, Banking and Financial Services, Construction, Real Estate, Consumer Packaged Goods, Distribution, 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, Professional Services, Retail, Transportation,
Gusto Key Cloud and HCM Applications
Gusto HR, Gusto Payroll, Gusto Hiring and Onboarding, Gusto Benefits, Gusto Time Kiosk
Gusto HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| 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.
Gusto Revenue Breakdown by Type:
Gusto 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 | |
Gusto HCM Applications Revenues By Verticals, $M:
Gusto Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Gusto Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Gusto Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Gusto Customers
No. of Gusto Customers: 300000
No. of Gusto HCM Applications Customers: x
No. of Gusto Cloud HCM Customers: x
No. of Gusto Cloud HCM Subscribers: x
Gusto is revolutionizing HR, payroll, and benefits for more than 300,000 companies across the nation.
Among its customers are: Reach, Loan Hero, Finder.com, iMedicare, Kids Atelier, Octopus Creative, Housegreening, GreenLid, Tinpot Creamery, Nicole Chan Photography, Elevate, Andy's Auto, Ealchemy, Avant Barre, Common Wealth Joe, Via Church and many others.
Gusto Market Opportunities, M&A and Geo Expansions
In December 2023, Gusto unveiled Gusto Global, powered by Remote, offering small and medium-sized businesses (SMBs) a streamlined solution to hire, pay, and manage global teams. This collaboration allows US companies to efficiently handle international hiring and management within the Gusto platform, starting with hiring in Canada and expanding to more countries. The integration will extend support to existing Remote customers in 2024.
In August 2021, Gusto secured $175 million in a Series E funding round, accompanied by the appointment of new members to the Gusto Board of Directors. These developments are poised to expedite our ability to make a significant impact for the customers we support.
Gusto Risks and Challenges
Despite its strong market position, Gusto faces internal and external risks that could impact its growth trajectory. Internal challenges such as scalability issues and talent acquisition pose potential obstacles to expansion. Externally, increased competition and regulatory complexities present go-to-market challenges that require careful navigation.
Gusto Ecosystem, Partners, Resellers and SI
Back in mid-2021, the company introduced an integrated payroll feature, enabling other businesses to incorporate its payroll services directly into their own applications or services. This embedded payroll service has since expanded to encompass a network of 27 partners, collectively serving over half a million businesses. Additionally, Gusto disclosed agreements with several Fortune 250 companies.
In March 2021, JazzHR, a recruiting software provider catering to small and medium-sized businesses, unveiled a collaborative partnership with Gusto, a payroll-management provider. This partnership aimed to facilitate the swift transition from candidate to employee for businesses of varying sizes. Through their integrated solution, joint customers can effortlessly transmit new-hire data from JazzHR to Gusto, streamlining the payroll setup process and eliminating the need for manual data entry, thus initiating onboarding seamlessly.
Gusto Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- Gusto Public Cloud and Infrastructure (IaaS)
- Gusto Platform (PaaS)
- Gusto Application Delivery
- Gusto 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:
https://www.appsruntheworld.com/taxonomy
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