Gusto IPO: Will Gusto Stock Begin Trading Next Year?
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Table of Contents
Notable Gusto News
05/07/2026: Gusto hits $1B revenue
10/01/2025: Gusto paid $600M to acquire Guideline
06/09/2025: Gusto launches $200 million+ tender offer
05/10/2024: Gusto is cash flow positive
Older news…
About Gusto
Gusto is a cloud software-as-a-service (SaaS) company that provides payroll, benefits, hiring, time management, tax, and other human resources services to U.S.-based businesses.
The easy-to-use software helps businesses manage employees and contractors, making it an all-in-one resource for growing companies.
Formerly known as ZenPayroll, Gusto launched from the Y Combinator winter batch of 2012. Its Silicon Valley network has attracted several well-known entrepreneurs, celebrities, and venture capitalists. It competes in a crowded startup space with companies like Rippling, Deel, and Ramp.
Gusto was founded by Joshua Reeves and Edward Kim and is based in San Francisco. The company has a shoes-off office policy.
Here’s an excellent demo of the basic Gusto functionality:
Ownership
Gusto is a venture-backed startup, counting at least 40 venture capital firms and dozens of high-profile entrepreneurs and celebrities as investors.
Prominent venture capital investors include CapitalG, Dragoneer Investment Group, Fidelity, Franklin Templeton, GV, General Catalyst, Kleiner Perkins Caufield & Byers, Salesforce Ventures, T. Rowe Price, and Y Combinator.
Well-known individual investors include Aaron Levie (Box), Matt Mullenweg (Automattic/WordPress), Tobias Lutke (Shopify), Kevin Systrom (Instagram), Evan Williams (Twitter, Medium), Patrick Collison (Stripe), Jerry Yang (Yahoo), Sam Altman (Y Combinator), Jared Leto (Actor), and Ashton Kutcher(Actor).
Funding Rounds
| Round | Date | Est. Valuation | Amount | Price |
|---|---|---|---|---|
| Tender | 06/08/25 | $9.30B | $200.00M | $25.50 |
| Series E Ext. | 05/11/22 | $9.60B | $55.00M | $ 30.40 |
| Series E | 08/09/21 | $9.60B | $175.00M | $ 30.40 |
| Series D | 07/23/19 | $3.80B | $200.00M | $ 13.31 |
| Series C | 07/30/18 | $2.00B | $145.15M | $ 7.41 |
| Series B2 | 07/04/16 | $1.09B | $90.00M | $ 5.02 |
| Series B | 08/24/15 | $560.00M | $60.00M | $ 2.81 |
| Series A | 02/18/14 | $140.00M | $20.00M | $ 0.77 |
| Seed Round | 12/10/12 | $31.07M | $6.07M | $ 0.23 |
| Accelerator/Incubator | 12/31/11 | $1.43M | $100.00K | $ - |
| Source: Caplight |
Valuation
The last confirmed Gusto valuation was $9.3 billion based on the tender offer completed in June 2025.
IPO Potential
The Gusto IPO date has yet to be determined. The company has not yet filed publicly for an IPO, but Gusto could be a leading SaaS IPO candidate when market conditions improve.
With more than 100 pre-IPO investors and a robust recurring revenue model, we should expect to see news of a Gusto IPO date approaching when the IPO sentiment improves. However, its pre-IPO valuation has shrunk from its last funding round, suggesting bankers may throttle IPO ambitions until the valuation recovers.
We’ll get clues about the IPO date when we learn about the hiring of an underwriter, an S-1 filing is submitted, or reporting discloses a date range.
How to Invest in Gusto Stock
Most investors will not be able to own Gusto stock via pre-IPO investing platforms because they require the investor to be accredited.
When the Gusto IPO date arrives, it will still be difficult for most investors to acquire IPO shares.
The most likely way investors will be able to own Gusto stock is to wait for the IPO and buy shares after it goes public. There may be other opportunities to own the stock before the IPO.
Here are some potential options to own Gusto stock before, during, and after the IPO.
1. Buy Gusto Pre-IPO
Gusto stock may become available on pre-IPO investing platforms before the IPO.
This happens when employees or other early investors want to liquidate a portion of their shares before the public offering.
Investors must be accredited to be eligible to buy pre-IPO shares.
Monitor pre-IPO investing platforms such as Augment, EquityZen, Nasdaq Private Markets, Forge Global, and Clarity for share availability. Check out the list of best pre-IPO invest platforms.
Minimum investments on these platforms range from $1,000 to $50,000 or more. It’s free to sign up for data and deal alerts.
Non-accredited investors can own pre-IPO companies via venture capital funds targeted to retail investors. Venture capital funds are a new asset class that emerged in 2022.
2. Participate in the Gusto IPO
IPO investors may find chances to invest during the initial public offering. Investors may be able to acquire shares at the IPO price before the company begins trading.
Formerly exclusive to Wall Street’s best customers, IPO access is now more attainable to retail investors.
Online brokers, including the ones listed below, give customers free access to IPOs, even with low account balances.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy after the IPO
Though waiting for the IPO requires patience, there are advantages to waiting for the stock to become publicly traded before owning.
The IPO allows investors to review more established financials after the first quarter of trading. Pre-IPO investing has limited financials available.
IPO stock prices typically rise with high-demand companies. Valuations can become exaggerated. You can benefit if you’re in early and sell when the price overheats but suffer if prices revert to fairly valuations.
Many IPOs start with high valuations. Then the stock falls once the first and second quarterly earnings reports become available.
In 2021, both Rivian and Robinhood became high-flying IPO stocks. But six months after the IPO, both stocks were more than 80% below their price peak.
The stock price declines after the IPOs could become excellent entry points if you were not allocated IPO shares.
Avoid buying overvalued shares immediately after the IPO. Shares often fall after the IPO due to lockup expirations and quarterly earnings disappointments.
However, the most disruptive companies will be higher in a decade. Patience pays.
No Gusto S-1 filing has been released to the public, and there is no indication of a confidential filing. The document will become available if the company submits it to the SEC and the regulatory commission approves and releases it to the public.
We’ll post a copy of the S-1 filing on this page when it becomes available.
You can monitor the most recent S-1 IPO filings on this website.
Conclusion
Investors get excited when they identify companies riding extraordinary macroeconomic trends. Cloud SaaS companies like Gusto and Carta get a lot of attention.
Though you may want to own the company, buying stock early on can often prove difficult for retail investors.
Pre-IPO investing platforms have opened more opportunities. But private equity investing is still primarily reserved for the ultra-wealthy, requiring millions to invest in seed and early funding rounds for disruptive companies.
So if you decide to pursue IPO shares and early equity in Gusto, maintain reasonable expectations. However, if you identify several favorite IPO companies, you may eventually be able to invest in some of your target companies.
If the Gusto IPO is on your watch list, good luck. Invest in pre-IPO and IPO companies with caution.
Gusto News Archive
09/14/2023: JPMorgan Chase to Partner with Gusto
06/27/2023: Gusto reaches $500M in trailing revenue
02/08/2023: Gusto lays off 5% of staff
05/12/2022: Gusto Secures Series E Round Extension
07/24/2019: Gusto Raises $200M Series D At $3.8B Valuation
07/31/2018: Gusto Raises $140 Million Series C
Frequently Asked Questions (FAQs)
Craig Stephens founded Access IPOs in 2016 to help ordinary investors explore IPO and pre-IPO opportunities. He also manages the Access Club, a membership community for IPO and startup investors. Craig studied Finance at Michigan State University and lives in Northern Virginia. Learn more about Craig.
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