Justworks is looking to its future after closing a $50 million Series E investment.
"We're really excited about this. We had our pick of investors to bring in the capital from, and it's really important to us to surround the company with great people," Isaac Oates, founder and CEO of Justworks, told Cheddar Tuesday. "In terms of what we're focused on, it's really just continuing to expand our operational sophistication and our ability to serve more and more different types of customers."
The new investment is led by Union Square Ventures and FirstMark Capital, and it brings Justworks' total funding to $143 million.
Oates said there are about 85,000 people on the platform, which organizes and provides access to company benefits, payroll, HR tools, and more for small and medium-sized businesses.
Almost all revenue comes from subscription fees paid per employee per month. Oates said the company is currently at about $105 million annual revenue, and continuing to grow. He added the upcoming fiscal year will focus on generating cash.
As for whether Justworks will go after bigger businesses, Oates said the platform is keeping things small.
"While it's impossible to say forever, we are absolutely focused for the foreseeable future on small and medium businesses," Oates said. "We are passionate about them and we just want to make sure we're serving them the best we can."
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Scott Trench, host of the BiggerPockets Money Podcast, explores how recent rate cuts, high borrowing costs, and mortgage rates are reshaping U.S. real estate.
A look into how disruption, AI, and global economic trends are transforming the modern supply chain with Jeremy Jansen, Head of Supply Chain at Wells Fargo.
Delta CSO Amelia DeLuca reveals at the Fast Co. Innovation Festival how tech, sustainable aviation fuel, and smart operations are revolutionizing air travel.
Chipmaker Nvidia will invest $100 billion in OpenAI as part of a partnership that will add at least 10 gigawatts of Nvidia AI data centers to ramp up the computing power for the owner of the artificial intelligence chatbot ChatGPT.
Two of the nation’s biggest real estate services companies are combining in a deal that will bring Century 21, Compass and several other major brokerage brands under the same umbrella.
