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San Francisco-based payroll, benefits and HR technology platform for small businesses, raised $140 million in Series C funding led by T. Rowe Price, Y Combinator Continuity Fund, and General Catalyst.
The funding round was led by T. Rowe Price Associates Inc., Y Combinator Continuity Fund and General Catalyst. The company, founded in 2011, offers payroll and benefit services to small- and medium-sized businesses in the U.S. The last time it raised money was in 2015, when it brought its total funding to $176 million. Josh Reeves, Gusto co-founder and chief executive officer, said the company was preparing for an eventual public market debut. “Our timing to IPO is probably in the three- to five-year time horizon,’’ Reeves said. “We want to
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