Gusto

Business/Productivity Software · San Francisco, CA · Founded 2011 · Privately Held (backing)

Developer of a cloud-based payroll and human resource management platform designed to provide employee benefits. Gusto is based in San Francisco, CA and was founded in 2011. It was valued at $9.3 billion at its later-stage round in Oct 2025, the last priced event on record. It has raised $930 million across 14 recorded rounds; the latest was a $179 million debt round in Nov 2025.

PMV mark · valuation
$9.3B
Oct 2026
Priced at
its later-stage round
Oct 2025
Total raised
$929.8M
Last round
Debt - General
Nov 2025

Capitalization table

9 share classes, by liquidation seniority · as of May 2022
ClassLiq. prefIssue price
Series FF▮▮
Series E▮▮
Series D▮▮
Series C▮▮
Series C1▮▮
Series B▮▮
+ 3 more classes · a free account shows the full cap table
Preferences, participation and issue prices are Pro.Unlock preferences + participation

Membership and data by Private Market View

Pro
The prices on Gusto
  • ·Every dated print: 7 trades with prices and structures
  • ·The monthly marks chart, 37 months in dollars
  • ·Price per share on 7 rounds
  • ·1 investment vehicle formed around Gusto: sponsors, sizes, dates
Pro · $99 a month
List $299 · founding price, locked for as long as you stay

Membership and data by Private Market View

Reading Gusto's cap table

Share classes are listed senior-first: in a sale or liquidation, higher-seniority preferred stock is paid its liquidation preference before junior classes and common see proceeds. A participating class takes its preference and shares in the remainder; a non-participating class chooses one or the other.

The original issue price is what investors paid per share in that class’s round — read against current secondary prices, it shows which investors are above or below water.

Frequently asked about Gusto

How many share classes does Gusto have?
Gusto has 9 recorded share classes, listed by liquidation seniority — Series FF is the most senior.
How many shares has Gusto authorized?
Across its 9 recorded classes, Gusto has authorized 79,334,740+ shares.
Where does Gusto's cap table come from?
Share classes are assembled from certificates of incorporation, priced-round filings, and disclosures across Gusto's 14 recorded funding rounds.