Paylocity
American financial software company
From Wikipedia, the free encyclopedia
Paylocity Holding Corporation is an American provider of cloud-based payroll, spend management, and human capital management (HCM) software.[2]
 | |
| Company type | Public |
|---|---|
| Nasdaq: PCTY S&P 400 Component | |
| ISIN | US70438V1061 |
| Industry | Payroll service bureau Software as a service |
| Predecessor | Ameripay Payroll, Ltd. |
| Founded | 1997 Illinois, U.S. |
| Founder | Steve Sarowitz |
| Headquarters | , |
Number of locations | 8 |
Area served | North America |
Key people | Steve Beauchamp (Executive Chairman) Toby Williams (CEO) |
| Products | HR & Payroll Time & Labor Recruiting Expense Management Onboarding Performance Management Compensation Management Asset Management |
| Services | Online payroll and HR |
| Revenue |  US$1.59 billion (2025) |
| US$304 million (2025) | |
| US$227 million (2025) | |
| Total assets | US$4.39 billion(2025) |
| Total equity | US$1.23 billion (2025) |
| Owner | Steve Sarowitz, and Adams Street Partners (private equity) |
Number of employees | 6,700 (2025)[1] |
| Website | www |
History
The company was founded by Steve Sarowitz in 1997 as Ameripay Payroll Ltd.[3] It was renamed Paylocity in December 2005.[3][4] It relocated from Franklin Park, Illinois to Elk Grove Village, and later to Arlington Heights. The company moved its headquarters into a 309,000 square foot office in the former headquarters of Zurich Insurance North America in Schaumburg, Illinois.[5]
In September 2007, Steve Beauchamp was appointed as president and chief operating officer and became CEO within a year.[6]
In 2008, the company secured its first institutional funding with a $10 million Series A round from Adams Street Partners, followed by a $27.3 million Series B round in 2012.[7][8]
In 2010, Paylocity acquired Payroll Online and expanded its market presence in human capital management (HCM).[7]
Paylocity held an initial public offering in March 2014, raising about $120 million.[9] At the time of the IPO, founder Steve Sarowitz held 44% ownership of the company.[10]
From 2019 to 2024, Paylocity acquired a number of companies in HCM space, including BeneFlEX, VivGrid, Sampage, Blue Marble Payroll, Cloudsnap, Trace and Airbase.Inc.[11]
Products and services
Paylocity offers human capital management (HCM) solutions, providing integrated tools for managing payroll, HR functions, time tracking, spend management, and talent acquisition primarily for small to mid-sized businesses with 50 to 1,000 employees.[12]
Acquisitions
- March 2018: BeneFLEX (benefits administration)
- April 2020: VidGrid (video-based learning platform)
- November 2020: Samepage (team collaboration solution)
- September 2021: Blue Marble Payroll (international payroll services)
- January 2022: Cloudsnap (video platform for employee engagement)
- December 2023: Trace (headcount planning tool)
- September 2024: Airbase Inc. (spending management software)