The round was led by T. Rowe Price Associates, Inc., from new and existing investors Sands Capital, Fidelity Management and Research Company LLC, Durable Capital Partners LP, Generation Investment Management, Emerson Collective, Glynn Capital, Friends & Family Capital, Cross Creek, 137 Ventures, General Catalyst, Emergence Capital, Dragoneer Investment Group, Franklin Templeton, Acrew Diversify Capital Fund, and more.

Led by CEO Josh Reeves, Gusto provides customers with an online people platform for small businesses to take care of their teams with payroll, health insurance, 401(k)s, expert HR, and team management tools. The company recently acquired Symmetry, a leader in payroll infrastructure technology, and Ardius, an expert AI-powered R&D tax credit solution and introduced Gusto Embedded Payroll, which enables software developers to embed and customize payroll directly into their software.