Gusto (ZenPayroll, Inc.)
Acquisitions
4
Major Deals Covered
$600M
Disclosed Deal Value
Gusto's largest disclosed acquisition here is Guideline for $600M in 2025. This page covers 4 major deals from 2021 to 2025, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Ardius | 2021 | Undisclosed | Los Angeles startup automating R&D tax credit claims; Gusto's first acquisition (June 2021). |
| Symmetry | 2021 | Undisclosed | Arizona-based payroll tax calculation software company (July 2021). |
| RemoteTeam | 2021 | Undisclosed | HR and payroll tools for remote and international teams (October 2021). |
| Guideline | 2025 | $600.0M | 401(k) provider with about 65,000 business customers, 1 million+ savers, $20B in assets and ~$140M ARR; announced August 27, 2025. |
2025
$600M
401(k) provider with about 65,000 business customers, 1 million+ savers, $20B in assets and ~$140M ARR; announced August 27, 2025.
Brought retirement plans, previously offered through a partnership since 2016, in-house.
Completed in 2025. Price not disclosed by Gusto; ~$600M per TechCrunch sources, which Guideline called incorrect.
2021
Los Angeles startup automating R&D tax credit claims; Gusto's first acquisition (June 2021).
Added R&D tax credit services for small businesses using payroll data.
Integrated into Gusto's tax credit offering.
2021
Arizona-based payroll tax calculation software company (July 2021).
Brought payroll tax calculation technology in-house.
Supports Gusto's payroll tax engine.
2021
HR and payroll tools for remote and international teams (October 2021).
Supported Gusto's international contractor payments.
Integrated into Gusto's global contractor tools.
Gusto grows by adding small business customers through accountants, partners and self-serve sign-up, then raising revenue per customer with benefits, workers' comp, HR tiers and 401(k) plans. The 2025 Guideline acquisition brought about 65,000 retirement plan customers and roughly $140M in ARR. Gusto Embedded extends payroll into vertical software platforms, and international contractor payments, built partly on the 2021 RemoteTeam deal, address US companies hiring abroad.
Gusto earns most of its money from recurring software subscriptions: each customer pays a monthly base fee plus a per-employee fee, with higher tiers (Simple, Plus, Premium) adding HR, time tracking and advisory features. On top of that it earns commissions as a licensed health insurance broker, fees on workers' compensation and benefits administration, 401(k) plan fees (now in-house after buying Guideline in 2025), revenue from Gusto Embedded, which lets other software platforms offer payroll under their own brand, and interest on payroll funds held briefly before they are paid out. Accountants and bookkeepers are a major distribution channel. Gusto does not disclose the revenue split between these streams.
Ardius (June 2021, R&D tax credits), Symmetry (July 2021, payroll tax software), RemoteTeam (October 2021, remote and international HR) and Guideline (2025, 401(k) plans).
Gusto did not disclose the price. TechCrunch sources put it at about $600 million; Guideline called that figure incorrect. Guideline had been valued at $1.15 billion in 2021.
Symmetry makes payroll tax calculation software, giving Gusto in-house control over a core part of its payroll engine.
Ardius automates R&D tax credit claims, letting Gusto help small businesses use payroll data to claim credits.
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