Justworks offers a technology-enabled version of the Professional Employer Organization (PEO) model, delivering a platform to start, run and grow a business. The product bundles access to big-company benefits, health and wellness providers, payroll, HR tools and compliance support for small and medium-sized companies. It specifically targets companies with under 200 employees. Founded in 2012 by Isaac Oates, Justworks positions itself as an outsourced HR/PEO solution for SMBs. The company intends to use the new funding to continue expanding operations and broaden its business reach. Following the round, total funding stands at $143M. Justworks, founded in 2012 by Isaac Oates and based in New York City, offers an HR, payments and benefits platform with a simple user experience and a curated suite of benefits for businesses of all sizes. The company raised $40M in a Series D round and has $93M in total funding since inception. The new capital is intended to fund ongoing market expansion and product innovation. FirstMark Capital led the round and its managing director, Beth Ferreira, will join Justworks’ board. Existing investors Index Ventures, Thrive Capital, Bain Capital and Redpoint Ventures participated in the financing. The company is actively hiring. Justworks provides small and medium-sized companies with a platform to automate payments, payroll, HR administration, benefits enrollment and government paperwork. Led by founder and CEO Isaac Oates, the company partners with healthcare carriers to provide additional savings. It holds licenses in all 50 states and has an established presence in New York City. The company said it will use its current funding to invest in its core technology and features and to enhance its benefits platform with additional partnerships and offerings. As of the article, Justworks had raised $53m in total funding. The core product focus is on simplifying HR, payroll and benefits for SMBs. Justworks provides small and medium-sized companies with a SaaS platform that automates payments, payroll, HR administration, benefits enrollment and government paperwork. The solution is licensed in all 50 states to guarantee legal employment compliance irrespective of employee location. The company intends to use the funds to invest in its core technology and build out its team to support growth. Justworks is led by founder and CEO Isaac Oates, with Nick Thuesen as Head of Engineering and Camilla Velasquez as Head of Product. In May 2015 the company raised $13M in a Series B financing led by Bain Capital Ventures. Justworks provides a technology-based "co-employment" platform that consolidates employees under a single EIN to enable lower-cost benefits (medical, dental, vision) and handle payroll, benefits and compliance. Led by CEO Isaac Oates, the company serves over 2,000 companies across a wide variety of industries. It is present in 43 states and planned to expand to the rest of the U.S. by year’s end. The company said it will use its new funding to scale its platform, build out core technology offerings, enter new markets, and further develop operations and support infrastructure. Financially, Justworks has raised $7M in total to date, including a $1M seed in October 2013 and a $6M Series A. Will Gaybrick of Thrive Capital will join the company's board as part of the financing.

Total raised

$143M

Funding rounds

6

Latest round

Series E

Latest activity

Jan 2020