NEW YORK — Justworks, which operates a simple-to-use HR and payments platform, has raised a $33 million Series C funding round led by Redpoint Ventures with existing investors Bain Capital Ventures, Thrive Capital and Index Ventures also participating. This latest round brings the total amount raised to $53 million.
The company will use its current funding to invest in its core technology and features and enhance its benefits platform with additional partnerships and offerings that will continue to make life easier for its small business customers and their employees. With an already established foothold in New York and licenses in all 50 states, Justworks is poised to continue its growth across the country.
Considering the challenges fast-growing companies are constantly facing, Justworks provides small and medium-sized companies with the ability to focus on growing their business, not the regulations, complicated forms and manual work that typically comes with administering day-to-day HR, payments and employee benefits. Justworks removes unnecessary hurdles by automating payments, payroll, HR admin, benefits enrollment and government paperwork. Further, it partners directly with healthcare carriers to provide significant savings. With Justworks, the often complex and expensive parts of growing a business can now be made better.
“Entrepreneurs don’t launch a business just to struggle day in and day out with HR and government regulations and compliance. I’ve been there before and know that it is necessary to streamline these processes so that entrepreneurs can focus on what matters most — growing their business, acquiring new customers and attracting top talent,” said Isaac Oates, Justworks’ founder and CEO. “With our model, we empower businesses with accessible, affordable benefits, seamless payroll and frictionless compliance.”