The Alphabet and Salesforce-backed human resources technology provider secured the funding from new and returning investors at a $9.5bn valuation.

Gusto, a US-based workforce management software provider backed by corporates Alphabet and Salesforce, completed a $175m series E round yesterday featuring financial services and investment group Fidelity Management and Research Company.

Investment manager T Rowe Price Associates led the round, which valued the company at $9.5bn according to Forbes.

Acrew Diversify Capital Fund, 137 Ventures, Cross Creek, Dragoneer Investment Group, Durable Capital Partners and Emergence Capital also participated, as did Emerson Collective, Franklin Templeton, Friends & Family Capital, General Catalyst,…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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