Justworks Secures $40 Million in Series D Funding to Expand High-touch HR Tech Offering to Entrepreneurs
Series D Round Led by FirstMark Capital Brings Total Funding to $93m
NEW YORK, N.Y., March 6, 2018-– Justworks, the fastest growing HR technology platform for entrepreneurs who are serious about taking care of their teams, today announced a $40 million Series D funding round, bringing total funding raised to $93 million since the company’s inception in 2012. FirstMark Capital led the round, with participation from existing investors, Index Ventures, Thrive Capital, Bain Capital and Redpoint Ventures. FirstMark Capital managing director, Beth Ferreira, will join Justworks’ board.
The funding will assist Justworks with ongoing market expansion and product innovation, reinforcing its existing presence as the modern voice redefining the HR, payroll, and benefits industry. Justworks reimagined HR software, transforming an antiquated system into an approachable platform for employers and employees. The company will continue its roadmap of product innovation and strategic partnerships to offer access to even more enterprise-class benefits at affordable prices, while providing unmatched 24/7 customer support.
“We are thrilled to start a new relationship with FirstMark Capital and are proud of our continued relationships with current partners. This funding is a major milestone for Justworks, and further proof of our accelerated success in our mission to give entrepreneurs and their teams the support and peace of mind to work fearlessly,” said Isaac Oates, CEO and founder of Justworks. “As we look to this next stage, we are excited to build on the achievements and innovation of the past five years to continue to meet the needs of modern business leaders and their teams.”
Founded in 2012 by Isaac Oates, Justworks changes the way businesses run, pioneering the most intuitive, responsive, and affordable all-in-one HR, payments, and benefits platform. The groundbreaking Professional Employer Organization (PEO) is built for the modern workforce, with a simple UX and a curated suite of rich benefits that help entrepreneurs attract and retain top talent.
“As a former operator, I admire the system Justworks has built to eliminate the pain points and connect a fragmented HR industry,” said Beth Ferreira, managing director, FirstMark Capital. “And I’m not the only one. Justworks has built a substantial business beloved by its customers, and they have only just scratched the surface of the products and services that they can offer. FirstMark Capital recognizes that mastering internal operations is a critical element to any company’s success and Justworks has only just begun to revolutionize the industry. We are excited to welcome Justworks to our portfolio.”
Big or small, all teams deserve the best. Justworks is leveling the playing field with seamless payroll, HR support, and access to high-quality, affordable benefits. The ultimate goal is to free entrepreneurs to focus on what matters: running their business and creating a great place to work. To learn more about Justworks' fast and easy-to-use HR, benefits, and payments platform, visit www.justworks.com and follow us on Twitter @JustworksHR.
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