Funding round
Gusto Seed
Gusto, which works in payroll management software development in San Francisco, raised $6.1M in a Seed round announced on 11 Dec 2012. It is Gusto's first venture round on record.
$6.1M
Amount raised
Not disclosed
Post-money valuation
Valuation
What this round says about the price
Gusto did not disclose a valuation in this round. It is Gusto's first venture round on record, in the year it was founded (2012). It is 1.0% of the $601M Gusto has raised in the venture rounds on record. Gusto raised again 14 months later: a Series A round of $20M in Feb 2014. Its next priced round, a Series B in Apr 2015, valued it at $560M.
Gusto's funding rounds
Gusto has 6 venture rounds on record. This one is highlighted.
- Seed this round 11 Dec 2012 $6.1M
- Series A 19 Feb 2014, led by General Catalyst and Kleiner Perkins $20M
- Series B 10 Apr 2015, led by CapitalG $60M$560M post-money
- Series C 31 Jul 2018, led by T. Rowe Price Associates, MSD Capital and Dragoneer Investment Group $140M$2.00B post-money
- Series D 24 Jul 2019, led by Fidelity Management & Research and Generation Investment Management $200M$3.80B post-money
- Series E 10 Aug 2021, led by T. Rowe Price Associates, Inc. $175M$9.50B post-money
Investors
Who put money in
0 firms took part; no lead investor was named.
Individual investors: Aaron Levie and David O. Sacks.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
177 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.2M, and this round was 5.1 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 12 Dec 2012 | $3.1M | not disclosed | not named |
| Tech Companies | 4 Dec 2012 | $1.4M | not disclosed | not named |
| Tech Companies | 1 Dec 2012 | $1.0M | not disclosed | not named |
| Tech Companies | 19 Dec 2012 | $1.0M | not disclosed | Javelin Venture Partners |
| Tech Companies | 13 Dec 2012 | $900K | not disclosed | not named |
| Tech Companies | 21 Dec 2012 | $600K | not disclosed | not named |
| Tech Companies | 12 Dec 2012 | $500K | not disclosed | Neoteny Labs |
| Tech Companies | 5 Dec 2012 | $490K | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Gusto raise in its Seed round?
Gusto raised $6.1M in its Seed round, announced in Dec 2012.
What was Gusto's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
177 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.2M, and this round was 5.1 times the median.
Did Gusto raise again after this round?
Yes: a Series A round in Feb 2014 of $20M.