Deal Follows Justworks’ Successful Series D Funding Round of $40 Million, and Signifies Industry Leadership in Redefining Benefits, Payroll, HR Tools, and Compliance Support
NEW YORK - June 6, 2018 - Justworks, the fastest growing HR technology platform for entrepreneurs who are serious about taking care of their teams, today announced that Spark Capital, a venture capital firm whose investments include Slack, Affirm, InVision, Outreach, Pendo, and Plaid, has invested in Justworks.
“This investment is another major step forward for Justworks and a testament to our team’s continued success in delivering on our mission to help entrepreneurs and businesses grow with confidence,” said Isaac Oates, CEO and founder of Justworks. “We’re excited to have another fantastic partner in Spark Capital, and one who believes deeply in our vision for a world in which starting, running, and joining a growing business is an accessible option for all.”
The additional growth investment by Spark Capital comes on the heels of Justworks closing a $40 million Series D funding round in March 2018. Justworks has raised $93M in venture financing since it was started in 2012. This new commitment to Justworks adds another marquee venture capital firm to the company’s roster of backers, which already includes Bain Capital Ventures, FirstMark Capital, Index Ventures, Redpoint Ventures, and Thrive Capital.
Justworks is using its financing to accelerate ongoing market expansion and drive product innovation, further reinforcing its position as an industry leader in redefining benefits, payroll, HR tools, and compliance support for growing businesses.
“The whole team at Spark Capital is thrilled to have Justworks in our portfolio,” said Alex Clayton, an investor from Spark Capital who focuses on growth-stage software businesses. “I’ve continually been impressed with Isaac and the entire Justworks team. Isaac has such a strong vision for the company’s future and models for creating economies of scale that empower small businesses and entrepreneurs. In our minds, there’s no question that Justworks’ technology, service delivery, and senior leadership team positions them as a catalyst for foundational change within the HR, payroll, and benefits industry at large.”
About Justworks:Justworks takes the busyness out of growing a business and alleviates the unknown. Founded in 2012, Justworks combines a simple platform and exceptional 24/7 customer service with the power of a PEO, so all teams have more time to focus on what matters. Growing businesses get access to corporate-level benefits, seamless payroll, HR tools, and compliance support—all in one place. To learn more about us visit www.justworks.com, follow us on Twitter @Justworks and Instagram @Justworks_HR.
About Spark Capital:Spark Capital is an early and growth stage venture capital firm that takes risks on exceptional founders and the products they design. Spark invests in companies at all stages of their life cycle. The firm's most recent funds include a $400 million early-stage venture fund and a $600 million venture growth fund. In total Spark has $3 billion under management with offices in San Francisco, Boston, and New York. For more information, please visit www.sparkcapital.com.