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."
Steven Overly, Host of Politico Tech, talks to Dave Briggs about the key takeaways from Joe Rogan's interview with Mark Zuckerberg, all under 20 minutes. Watch!
Abrar Al-Heeti, Tech Reporter at CNET, explains what will happen if and when the TikTok app is banned in the United States. Plus, who may buy it? Watch!
Chris Lafakis, Director at Moody's Analytics, discusses how home insurance may change as a result of the devastation in California brought on by the LA fires.
Brian Rosen, Founder and CEO of InvestBev, discusses what the Surgeon General’s new Advisory on Alcohol and Cancer Risk means for the adult beverage business.
Damage from the Los Angeles inferno is setting records—and it's not over. Plus, rate-cut drama, the battle over Greenland, and Zuckerberg bends the knee.
Watch Duty CEO, John Mills, talks to Cheddar about how the app works, how it helps people in real time and how people can donate to help those affected.
JP Richardson, CEO at Exodus, discusses bringing Exodus public, his thoughts on the future of crypto markets, and tips to take the first steps into the space.
Jonathan Alter, journalist and author, discusses Trump's threats to take back the Panama Canal, unraveling foreign policy work done by Jimmy Carter in 1978.
