Wednesday, August 1, 2018

Michael Dell Joins In Backing HR Software Developer Gusto In $140M Funding

Michael Dell, via his investment fund, MSD Capital, is one of the new investors in human resources software developer Gusto, as part of a big, $140M Series C funding for the San Francisco company. Gusto said Tuesday that it raised $140M in a Series C funding round. The funding came from T. Rowe Price Associates, Inc., MSD Capital (Michael Dell), Dragoneer Investment Group and Y Combinator Continuity Fund plus existing investors General Catalyst, CapitalG, Kleiner Perkins, 137 Ventures, Emergence Capital and others. Gusto's CEO is Josh Reeves. The company said the funding goes towards "significant" additions to its technology platform, including new "flexible" payment capabilities which let employees choose when they want to get paid, regardless of their employer's pay schedule and without affecting their employer's payroll or cash flow. More information »