Paylocity

Last updated

Paylocity Holding Corporation
Company type Public
Nasdaq:  PCTY
S&P 400 Component
ISIN US70438V1061
Industry Payroll service bureau
Software as a service
PredecessorAmeripay Payroll, Ltd.
Founded1997;29 years ago (1997) Illinois, U.S.
Founder Steve Sarowitz
Headquarters
Schaumburg, Illinois
,
U.S.
Number of locations
8
Area served
 North America
Key people
Steve Beauchamp (Executive Chairman)
Toby Williams

(CEO)
Ryan Glenn (CFO)
Michael Haske (COO)
Jill Morrison (CHRO)
Art Chaisiriwatanasai (CISO)
Nick Rost (CAO)
Holly Fulp (CSO)

Monica Roberts, CDO & VP)

Contents

ProductsHR & Payroll
Time & Labor
Recruiting
Expense Management
Onboarding
Performance Management
Compensation Management

Asset Management

Access Management & Identity
ServicesOnline payroll and HR
RevenueIncrease2.svg US$1.59 billion (2025)
Increase2.svgUS$304 million (2025)
Increase2.svgUS$227 million (2025)
Total assets Increase2.svgUS$4.39 billion(2025)
Total equity Increase2.svgUS$1.23 billion (2025)
OwnerSteve Sarowitz, and
Adams Street Partners (private equity)
Number of employees
6,200 (2023) [1]
Website www.paylocity.com

Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software. [2]

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

Awards

References

  1. ↑ "Investor Presentation Q2 FY2022". Paylocity. Retrieved April 20, 2022.
  2. ↑ Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D. (April 26, 2022). Intermediate Accounting. John Wiley & Sons. p. 6. ISBN   978-1-119-79097-6.
  3. 1 2 "Company Overview of Paylocity Corporation". Bloomberg Business . December 9, 2015. Retrieved December 9, 2015.
  4. ↑ "Corp/LLC Certificate of Good Standing". Illinois Secretary of State . Retrieved December 9, 2015.
  5. ↑ Ori, Ryan. "Paylocity completes big HQ lease in Schaumburg". Crain's Chicago Business. Retrieved August 28, 2016.
  6. ↑ "On a roll | Smith Magazine". smith.queensu.ca. Retrieved February 9, 2026.
  7. 1 2 "What is Brief History of Paylocity Company?". matrixbcg.com. November 3, 2025. Retrieved February 9, 2026.
  8. ↑ "Adams Street Partners Invests In Paylocity | Mergr". mergr.com. Retrieved February 9, 2026.
  9. ↑ "Shares of payroll processor Paylocity soar in debut". Reuters. March 19, 2014. Retrieved May 27, 2020.
  10. ↑ "The city's newest billionaire doesn't plan to die one". Crain's Chicago Business. April 26, 2019. Retrieved February 9, 2026.
  11. ↑ Azevedo, Mary Ann (September 4, 2024). "Paylocity is acquiring corporate spend startup Airbase for $325M". TechCrunch. Retrieved June 10, 2025.
  12. ↑ "Paylocity – Analyst Reviews, Pricing & Features". TechnologyEvaluation.com. Technology Evaluation Centers. Retrieved December 30, 2025.
  13. ↑ "Paylocity". Inc. Retrieved December 9, 2015.
  14. ↑ "Technology Fast 500™ Powerful connections" (PDF). Deloitte. 2013. Retrieved December 9, 2015.
  15. ↑ "Deloitte's 2014 Technology Fast 500™ Ranking" (PDF). Deloitte. 2014. Retrieved December 9, 2015.
  16. ↑ "Deloitte's 2015 Technology Fast 500™ Ranking" (PDF). Deloitte. 2015. Retrieved December 9, 2015.
  17. ↑ "100 Fastest-Growing Companies: Paylocity Holding". Fortune. October 28, 2021.
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