San Francisco based HR, payroll and benefits service Gusto has announced a series of updated platform features. This announcement follows that of Gusto's competitor Zenefits, who plans to unveil its own updated feature set on October 18th.
Gusto, formerly known as ZenPayroll, is taking the wraps off some new features, including paperless employee records that are centralized online so HR admins can navigate that information all in one place; a 401(k) solution that allows employees to easily enroll in retirement and update their contributions; and a new “welcome wall,” where teammates can leave greetings for a new hire. Gusto is also touting its nearly 40,000 customers – which is twice the number of customers that Zenefits has said it has — and noting that it has amassed them with 314 employees to Zenefits’s 900-person staff. CEO Josh Reeves further notes that Gusto has raised $150 million from investors to date and was last valued at $1 billion, compared with Zenefits, which has raised roughly $580 million from investors and halved its valuation to $2 billion in June.