Bain Capital led a $13M Series B round. In total, the company has raised $20 million in three rounds since 2013. Justworks, is an HR and payments platform targeting small- and medium-sized businesses who want a software-as-a-service solution to manage payroll, human resources, benefits and government paperwork.
HR and payment company Justworks announced a $13M Series B funding round led by Bain Capital Ventures with returning investors Thrive Capital and Index Ventures. The company will use its current funding to invest in its core technology and build out its team to support its explosive growth. According to Justworks, in the past year, the company has increased its revenue by 1500 percent and its user base by 800 percent. Justworks offers small and medium-sized companies automated payments, payroll, HR admin, benefits enrollment, and government paperwork through their platform. Unlike other HR SaaS providers, Justworks offers employers healthcare savings of up to 30 percent by partnering directly with carriers such as Blue Cross Blue Shield.