Gusto, an HR tech platform, has raised a $175 million Series E funding round led by T. Rowe Price Associates and includes a variety of new and existing investors, including Fidelity, Franklin Templeton, Generation and General Catalyst.
With this capital, Gusto CEO and co-founder Joshua Reeves said the company is looking to provide additional resources to small businesses during this challenging time: “The economy is reopening, but the complexities of owning a business aren’t going away. Our new $175 million Series E funding, which was led by T. Rowe Price Associates, Inc., enables us to collapse time to impact, so that we can work to unblock obstacles and unlock more opportunities that allow entrepreneurs to take care of their teams and grow their businesses for the long term.”
Gusto’s new funding will be used for development of its benefits and payroll tools.
Announcement: Gusto Raises $175M for HR and Payroll Solution