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;28 years ago (1997) Illinois, U.S.
Founder Steve Sarowitz
Headquarters
Schaumburg, Illinois
,
U.S.
Number of locations
 Schaumburg, Illinois
Lake Mary, Florida
Rochester, New York
Meridian, Idaho
Area served
 North America
Key people
Steve Beauchamp
 (chairman)
Toby Williams
 (CEO)
Ryan Glenn (CFO)
Michael Haske (COO)
Jill Morrison (CHRO)
Art Chaisiriwatanasai (CISO)
Nick Rost (CAO)
Allison Windon (VP)
ProductsHR & Payroll
Time & Labor
Recruiting
Expense Management
Onboarding
Performance Management
Compensation Management
ServicesOnline payroll and HR
RevenueIncrease2.svg US$1.4 billion (2024) [1]
Increase2.svgUS$260 million (2024)
Increase2.svgUS$206.8 million (2024)
Total assets Decrease2.svgUS$3.69 billion (2023)
Total equity Increase2.svgUS$842.8 million (2023)
OwnerSteve Sarowitz, and
Adams Street Partners (private equity)
Number of employees
6,200 (2023) [2]
Website www.paylocity.com

Paylocity Holding Corporation is an American provider of cloud-based payroll and human capital management (HCM) software. [3]

Contents

History

The company was founded by Steve Sarowitz in 1997 as Ameripay Payroll Ltd. [4] It was renamed Paylocity in December 2005. [4] [5] 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. [6]

It was one of the 5,000 fastest growing private companies according to Inc. Magazine in 2003, 2004, and from 2007 to 2014. [7] The company was also included in the Deloitte Fast 500 as one of the fastest growing technology companies in 2013, [8] 2014, [9] and 2015. [10]

Paylocity held an initial public offering in March 2014, raising about $120 million. [11]

In 2021, Paylocity was listed at #51 in Fortune's 100 Fastest Growing Companies for 2021. [12]

In September 2024, Paylocity announced that it would acquire Airbase Inc., a spending management software company. [13]

References

  1. ↑ "Paylocity Announces Fourth Quarter and Full Fiscal Year 2024 Financial Results" (Press release). Paylocity. Aug 1, 2024.
  2. ↑ "Investor Presentation Q2 FY2022". Paylocity. Retrieved 20 April 2022.
  3. ↑ Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D. (2022-04-26). Intermediate Accounting. John Wiley & Sons. p. 6. ISBN   978-1-119-79097-6.
  4. 1 2 "Company Overview of Paylocity Corporation". Bloomberg Business . December 9, 2015. Retrieved December 9, 2015.
  5. ↑ "Corp/LLC Certificate of Good Standing". Illinois Secretary of State . Retrieved December 9, 2015.
  6. ↑ Ori, Ryan. "Paylocity completes big HQ lease in Schaumburg". Crain's Chicago Business. Retrieved 2016-08-28.
  7. ↑ "Paylocity". Inc. Retrieved December 9, 2015.
  8. ↑ "Technology Fast 500™ Powerful connections" (PDF). Deloitte. 2013. Retrieved December 9, 2015.
  9. ↑ "Deloitte's 2014 Technology Fast 500™ Ranking" (PDF). Deloitte. 2014. Retrieved December 9, 2015.
  10. ↑ "Deloitte's 2015 Technology Fast 500™ Ranking" (PDF). Deloitte. 2015. Retrieved December 9, 2015.
  11. ↑ "Shares of payroll processor Paylocity soar in debut". Reuters. 2014-03-19. Retrieved 2020-05-27.
  12. ↑ "100 Fastest-Growing Companies: Paylocity Holding". Fortune. 2021-10-28.
  13. ↑ Azevedo, Mary Ann (2024-09-04). "Paylocity is acquiring corporate spend startup Airbase for $325M". TechCrunch. Retrieved 2025-06-10.
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