Every day, more than 18,000 new businesses are started. They are started by people who have decided, for whatever reason, that starting a new company from nothing is their best option. Most of these businesses will fail, but some will succeed.
The ones that succeed will become another layer in the fabric of their community, another molecule in our economic substrate. A few will go on to become the big corporations of the next generation; they will change how millions of people think and work and live.
An Overview of PEOs
Get the guide on how PEOs work for small businesses.
A Compelling Product for Small Businesses
But often the system fails the business: Things like employment regulations or the inability for an entrepreneur to offer adequate benefits to prospective employees are failures of the system that increase the likelihood of failure. It’s no one’s fault but it’s everyone’s problem.
Justworks is here because we want to make it easier and safer for people to start businesses. Small businesses are really important. They’re not just about creating jobs, but giving people access to valuable products and services.
The approach that we’ve taken (integrated payroll and benefits through our PEO model) is, by far, the most compelling product for small business owners. It allows a truly seamless experience for entrepreneurs to take care of their team, at lower cost than otherwise possible.
Building our Foundation
We’re excited to announce our partnership with Redpoint Ventures, so we can continue building our foundation. We raised $33 million in Series C funding, which brings our total funding to $53 million to date. This financing will empower us to continue building on our mission, as a small business ourselves.
A focus on controlled and sustained growth is highly important to us. The funding from Redpoint allows us to build a product that you not only have to have to run a business, but a product you want to have. Here’s how we’ll achieve this: We’ll ensure the level of service we provide only gets better. We’ll keep building new products and features that make your job easier.
We’ll be announcing some exciting benefit partnerships in the near term to give your team seamless access to urgent care, health advocacy, and more at affordable rates. We’re excited to continue growing our business with thought and care, so that you can continue to grow yours.
PS. You can read what the Wall Street Journal published about our Series C Funding here.