The Alphabet-backed payroll services provider formerly known as ZenPayroll has now raised more than $135m in overall funding and is valued at $1bn.
Gusto, the US-based payroll services provider previously known as ZenPayroll, has raised $50m from investors including Google Capital, technology conglomerate Alphabet’s growth equity unit, Buzzfeed reported on Monday.
The round valued Gusto at $1bn and was funded by existing investors that also included venture capital firm General Catalyst Partners, according to chief executive Joshua Reeves.
The amount of funding, which represents a series B-1 round, was originally reported by VentueBeat.
Gusto operates a cloud-based platform that provides payroll services for…
