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Revenue Comparison of Leading HR Tech Firms
Comparison of actual or annualized revenue for key players in the HR tech market.
Primary Sources
Gusto hits $1B revenue, a figure that brings it closer to public ...
While AI disruption looms over many legacy SaaS companies, several HR tech startups seem to be thriving. One of these companies is small-business payroll provider Gusto. The 14-year-old company, last valued at over $9 billion, just announced that it surpassed $1 billion in revenue earlier this year. Unlike many startups that report annualized recurring revenue (ARR) — an estimate of the value of their contracts in the upcoming 12 months — Gusto’s figure represents actual revenue earned over the previous 12 months. Gusto was last valued at at $9.3 billion, Fortune reported, when it launched a $200 million tender offer for its employees in June, 2025. The deal valued the company about where it was valued in early 2022. That’s a bargain for Gusto investors compared to its decacorn competitors. For instance, Deel, which serves large international businesses, crossed $1 billion in ARR last year. The company was last valued at $17.3 billion when it raised a $300 million round co-led by Ribbit Capital and Andreessen Horowitz in October. Meanwhile, Deel’s primary rival, Rippling, which last month announced that it also hit $1 billion in ARR, was last valued at $16.8 billion after raising $450 million in May 2025. By crossing the $1 billion revenue threshold, Gusto is clearly showing its financial might against its peers. The company has been making other big moves, too. Last year, it completed the acquisition of Guideline, a startup offering retirement plans to small and medium businesses, for about $600 million, as we reported. Techcrunch event San Francisco, CA | October 13-15, 2026 Following the December board appointment of Anthropic CTO Rahul Patil, Gusto is already reporting massive efficiency gains. According to the company, AI now accounts for 50% of all new code generation and handles an equal share of customer support cases. Given its relatively modest valuation compared to its revenue, Gusto is well-positioned for another fundraise, or even an IPO, at a higher valuation. The company has another key factor in its favor. While rivals Deel and Rippling remain embroiled in a high-profile corporate espionage lawsuit, Gusto has stayed out of those kinds of headlines and focused on its business. Gusto has long been considered an IPO candidate. Even so, a public debut appears iffy in 2026 while the IPO market still remains so frosty. When TechCrunch interviewed Gusto CEO and co-founder Josh Reeves in December, he insisted he doesn’t spend much time ...
Gusto alcanza $1B en revenue: lecciones para tu startup
¿Cómo logró Gusto $1B en revenue siendo rentable?Gusto alcanzó $1 billón en ingresos anuales en 2025, una cifra que la acerca significativamente a los mercados públicos. Lo distintivo: la empresa ha sido positiva en flujo de caja libre desde principios de 2023, rompiendo el paradigma de 'crecimiento a cualquier costo' que dominó la década pasada.Para founders de SaaS y HR Tech, este hito no es solo un número: es validación de que se puede escalar manteniendo disciplina financiera. La compañía sirve a más de 500,000 pequeñas empresas y emplea a aproximadamente 4,300 personas (a marzo 2026).¿Cuál es la valoración actual de Gusto y cómo se compara?Tras un tender offer privado de $200+ millones, Gusto alcanzó una valoración de $9.3 billones. Esto representa un múltiplo de 15x sobre revenue, significativamente menor que competidores como Rippling ($16.8B, 29x) pero más alto que Deel ($12.6B, 13x).👥 ¿Quieres ir más allá de la noticia?En nuestra comunidad discutimos las tendencias, compartimos oportunidades y nos ayudamos entre emprendedores. Sin humo, solo acción.👥 Unirme a la comunidadLa diferencia en múltiplos refleja estrategias distintas: Rippling prioriza crecimiento explosivo, mientras Gusto y Deel demostraron rentabilidad temprana. Para contextos de fundraising, esto señala que los inversores en 2026 valoran tanto la eficiencia operacional como la velocidad de expansión.¿Qué movimientos estratégicos impulsaron este crecimiento?La adquisición de Guideline por más de $1 billón (estimado) en septiembre 2025 fue clave. Guideline generaba alrededor de $150 millones en revenue anual antes de la compra. Esta movida expandió a Gusto hacia servicios de planes 401(k), aumentando el stickiness del producto y el lifetime value por cliente.El CEO Josh Reeves identifica una oportunidad de mercado de trillones de dólares, comparando el espacio con gigantes públicos como ADP ($132B market cap), Intuit ($200B+) y ServiceNow ($150B+). La tesis: el mercado puede sostener múltiples empresas de $100B+ en HR Tech.¿Hay planes de IPO confirmados?A mayo 2026, no hay anuncios oficiales de IPO. Gusto está siguiendo el modelo de 'liquidez privada alternativa': permitir que empleados e inversores realicen ganancias mediante tender offers sin necesidad de salir a bolsa inmediatamente.Este patrón se observa en otras empresas unicornio que retrasan IPOs públicos mientras acceden a capital de fondos de etapas tardías. Competidores directos como Rippling y Deel también permanecen privad...
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The Philippines' richest got slightly richer in April, but only because ...
5 billion in free cash flow — a staggering contradiction to its supposed P1.3 trillion profit. While it was celebrating record earnings on paper, the company ...
