money moves
Houston SaaS company raises $15M series B, announces latest release
A Houston startup that is optimizing human resource operations for small businesses has raised fresh funding from an Austin-based venture capital investor.
GoCo.io raised $15 million in September in a funding round led by ATX Venture Partners. Founded in 2015, the company has raised $27.5 million to date, including its $7 million series A in 2019.
The fresh funding will be used to continue expanding on the company's software services operations and upgrades to its product, which is is modernizing HR, benefits, and payroll.
“We believe that GoCo is the company best positioned to provide HR departments at SMBs with the most flexible employee management software,” says Chris Shonk, general partner at ATX Venture Partners, in a news release. “In a crowded marketplace, GoCo clearly rises to the top with its ease-of-use, flexibility and unparalleled customization.
"We’re excited to be a part of GoCo’s journey, and we look forward to supporting their continued innovation as they solve new and existing challenges HR departments face,” he continues.
Last month, the company launched its latest version of the platform, which included new features, enhanced user experience, and increased integrations. Over the past two years, the company has doubled its team to keep up with its customer growth and product development.
“GoCo is the trusted HR software SMBs rely on and we’re thrilled to reach an exciting funding milestone,” says Nir Leibovich, CEO of GoCo, in the release. “This new investment will enable us to provide additional leap-frog HR technology solutions that ensure every organization’s success by eliminating manual HR tasks. SMBs are facing significant challenges right now and GoCo has grown rapidly because we are able to not only meet but exceed HR departments’ needs and expectations.
"GoCo looks forward to expanding upon providing an outstanding customer experience through this new phase of growth as we launch our newest value-added product this fall,” he continues.
