Source: Fortune
Summary
Gusto, a human resources software company, has reached $1 billion in revenue, with over 500,000 customers. The company, founded in 2011 by Eddie Kim, Tomer London, and Josh Reeves, started as ZenPayroll and initially focused on small businesses. Gusto’s growth milestones include reaching $1 million in revenue in 2014, $100 million in 2019, and $500 million in 2023. The company’s founders believe that small businesses will thrive in the future, driven by advancements in AI, which will lower barriers to entry and create new opportunities for entrepreneurs.
Our Reading
The numbers tell one story.
Gusto’s growth is a testament to its ability to serve small businesses, a vital but often contrarian market. The company’s founders, Eddie Kim, Tomer London, and Josh Reeves, have navigated the challenges of scaling a business while maintaining their focus on small businesses. With $1 billion in revenue, Gusto is now a significant player in the enterprise software market. The company’s future plans include serving one million customers with a similar headcount, and its founders believe that AI will drive growth in the small business sector.
Gusto’s success is a sign that small businesses are here to stay, and that AI will be a key driver of their growth.
Author: Evan Null
