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Justworks
Enterprise Software
Justworks is a New York-based professional employer organization (PEO) providing payroll, benefits, HR, and compliance services that let small businesses outsource many employer administrative responsibilities.
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Justworks was founded in 2012 by Isaac Oates, based on the observation that small businesses often face significant administrative burden and complexity managing employer responsibilities such as payroll processing, employee benefits administration, and compliance with a wide range of federal, state, and local employment regulations, tasks that larger companies typically handle with dedicated HR and payroll staff but that smaller businesses often struggle to manage efficiently given limited administrative resources and expertise, while also often facing worse pricing on benefits like health insurance given their smaller size relative to large companies that can negotiate more favorable group rates. Justworks operates as a professional employer organization (PEO), a business structure in which client companies enter into a co-employment arrangement, letting Justworks handle payroll processing, tax withholding and filing, and employee benefits administration on behalf of client companies, while also pooling its many client companies together to negotiate group health insurance and other benefits rates typically only available to much larger employers, letting even small businesses offer their employees competitive benefits packages that would otherwise be difficult or expensive for a small company to access independently. The PEO model allows Justworks to perform certain payroll, benefits administration and compliance-related functions, while responsibilities remain allocated between Justworks and the client employer under the applicable co-employment arrangement.Justworks's customers span small and growing businesses across many industries seeking to outsource payroll, benefits, and HR compliance administration rather than building this expertise in-house. The company has raised substantial venture funding from investors including Index Ventures, Bain Capital Ventures, and Spark Capital, reaching unicorn status, competing with other PEO providers including TriNet and Insperity.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
