BambooHR vs Gusto
Last updated: September 30, 2020
BambooHR collects and organizes all the information you gather throughout the employee life cycle, then helps you use it to achieve great things. Whether you’re hiring, onboarding, preparing compensation, or building culture, BambooHR gives you the time and insights to focus on your most important asset—your people.
Gusto’s people platform helps businesses like yours onboard, pay, insure, and support your hardworking team. Payroll, benefits, and more.
BambooHR vs Gusto in our news:
2020. Gusto is expanding from payroll into a full suite financial wellness platform
Gusto launched as a small business payroll startup but over the past few years it has been accruing new features outside of its original payroll product, features that redefine the borders between payroll and financial wellness, and in the process, are blurring the lines of the classic fintech market map. Now the company has launched a slew of new offerings that it hopes will give employees better financial and health options through their employers. The most interesting one here is a tool the company is calling Gusto Wallet. It’s an app and collection of products for employees paid through Gusto that basically acts as a mini bank and financial health monitor. It offers an interest-bearing cash account (called, appropriately enough, Cash Accounts) which can also divert a small slice of each paycheck into a user’s savings, similar to products like Acorns and Digit.
2015. ZenPayroll rebrands as Gusto and takes on Zenefits
Payroll startup ZenPayroll changed its name to Gusto and is moving beyond payroll, into benefits such as health insurance and workers’ compensation. The addition and subsequent rivalry is a punch in the gut to cloud HR benefits company Zenefits –
2015. Cloud-based payroll service ZenPayroll scores $60 Million
Cloud-based payroll processing startup ZenPayroll has closed on a $60 million Series B round, led by Google Capital. ZenPayroll mainly serves the small business market that would otherwise need to process payments and direct deposits manually. It offers an easy-to-use, cloud-based interface that allows it to take on industry incumbents Paychex and ADP. While Paychex and ADP have upgraded to the cloud in recent years, allowing them to make it easier for their own customer bases to handle payroll online and through mobile platforms, ZenPayroll’s recent raise allows it to take on larger businesses currently served by Paychex and ADP.