Carta vs Gusto: Founders, CEOs and History
Carta was founded in 2012 by Henry Ward, Manu Kumar and is led by Henry Ward. Gusto was founded in 2011 by Joshua Reeves, Tomer London, Edward Kim and is led by Joshua Reeves.
Company facts
Founders
Carta
Henry Ward
Henry Ward is the co-founder and CEO of Carta. He has led the company since founding it as eShares in 2012, through its 2017 rebrand, a $7.4 billion Series G in 2021, and expansion into fund administration, private equity, private credit, and legal services.
Manu Kumar
Manu Kumar co-founded eShares (now Carta) with Henry Ward in 2012 after suggesting Ward build software to replace the paper stock certificates Kumar received as an angel investor.
Gusto
Joshua Reeves
Josh Reeves co-founded ZenPayroll, now Gusto, in 2011 and has been CEO ever since. He led the 2015 rebrand and expansion into benefits, the 2021 Series E, the 2025 Guideline acquisition and the company's growth past $1 billion in revenue in early 2026.
Tomer London
Tomer London co-founded Gusto in 2011 and led product for much of its history, shaping the simple, owner-friendly payroll and benefits experience the company is known for.
Edward Kim
Edward Kim co-founded Gusto in 2011 and led its engineering and technology work, including the payroll and tax infrastructure behind the platform.
CEOs and their tenures
Carta
- Henry Ward2012–present
Chief Executive Officer & Co-Founder
Co-founded eShares in 2012 and has served as CEO since; led the 2017 rebrand, the 2021 Series G at $7.4B, the 2024 exit from secondary trading, and the 2025-2026 expansion into private credit and legal services.
Source - Manu Kumar2012–present
Co-Founder
Co-founded eShares, suggested the original idea of electronic stock certificates, and backed the company through K9 Ventures.
Source
Gusto
- Joshua Reeves2011–present
Chief Executive Officer & Co-Founder
Has led Gusto since founding, through the 2015 rebrand, the 2021 Series E, the 2025 Guideline acquisition and the 2026 move past $1B in revenue.
Source - Tomer London2011–present
Co-Founder
Co-founder who led product development for Gusto's payroll and benefits platform.
Source - Edward Kim2011–present
Co-Founder
Co-founder and longtime technology leader who built early payroll and tax infrastructure.
Source
Timeline: Carta and Gusto side by side
2011Gusto
ZenPayroll Founded & Y Combinator (W12)
Joshua Reeves, Tomer London, and Edward Kim founded ZenPayroll in Palo Alto, joining Y Combinator.
2012Carta
eShares founded by Henry Ward and Manu Kumar
Started to replace paper stock certificates with electronic shares.
2012Gusto
Public Launch & $6.1M Seed from Silicon Valley Royalty
Launched cloud payroll, raising $6.1M backed by the CEOs of Yelp, Dropbox, Yammer, and Box.
2013Carta
$1.8M seed round
K9 Ventures, Draper, and Scott Banister backed the company.
2014Gusto
$60M Series B at $560M Valuation Led by Google Capital
Raised $60 million led by CapitalG, expanding automated payroll across all 50 US states.
2015Gusto
Rebrands to Gusto & Launches Health Benefits Brokerage
Rebranded from ZenPayroll to Gusto, launching health insurance brokerage and workers' comp.
2017Carta
Renamed Carta
eShares rebranded as Carta in November 2017.
2018Gusto
$140M Series C at $1.6B Valuation & Denver Campus Launch
Achieved unicorn status led by T. Rowe Price, opening a large regional operating campus in Denver.
2019Carta
$300M Series E at $1.7B valuation
Led by Andreessen Horowitz.
2019Gusto
$200M Series D at $3.8B Valuation Led by Fidelity
Raised $200 million, crossing 100,000 small business customers across America.
2021Carta
$500M Series G at $7.4B valuation
Led by Silver Lake and Lightspeed in August 2021.
2021Gusto
$175M Series E and First Acquisitions
Raised a $175M Series E at about $9.5B and acquired Ardius, Symmetry and RemoteTeam.
2022Carta
Acquires Vauban and Capdesk
Two London-based platforms expanded Carta in Europe.
2024Carta
Exits secondary trading
Shut down its secondary trading business after a January 2024 customer controversy.
2025Carta
Acquires Sirvatus and Accelex
Added private credit loan operations and AI document extraction in October 2025.
2025Gusto
Tender Offer at $9.3B and Guideline Deal
June tender offer led by Ontario Teachers'; August agreement to acquire Guideline.
2026Carta
Launches Carta Law; Pulley winds down
Acquired Avantia in May; rival Pulley announced in September it will close on December 8 and migrate customers to Carta.
2026Gusto
Surpasses $1B in Revenue
Gusto said trailing twelve-month revenue passed $1B, with growth accelerating five straight quarters.
Acquisitions
Carta
- Avantia2026Undisclosed
- Sirvatus2025Undisclosed
- Accelex2025Undisclosed
- Vauban2022Undisclosed
- Capdesk2022Undisclosed
Gusto
- Guideline2025$600M
- Ardius2021Undisclosed
- Symmetry2021Undisclosed
- RemoteTeam2021Undisclosed
Questions about Carta vs Gusto
Who is the CEO of Carta, Inc. and Gusto (ZenPayroll, Inc.)?
Carta, Inc. is led by Henry Ward and Gusto (ZenPayroll, Inc.) is led by Joshua Reeves. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Carta, Inc. founded vs Gusto (ZenPayroll, Inc.)?
Gusto (ZenPayroll, Inc.) was founded in 2011 — 1 year before Carta, Inc., which was founded in 2012. Gusto (ZenPayroll, Inc.)'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Carta, Inc..
How many employees does Carta, Inc. have compared to Gusto (ZenPayroll, Inc.)?
Carta, Inc. employs approximately 1,900 people, while Gusto (ZenPayroll, Inc.) employs approximately 3,200. Gusto (ZenPayroll, Inc.) has the larger workforce at 3,200 employees, compared to Carta, Inc.'s 1,900. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Carta, Inc. and Gusto (ZenPayroll, Inc.) headquartered?
Both Carta, Inc. and Gusto (ZenPayroll, Inc.) are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Carta, Inc. and Gusto (ZenPayroll, Inc.)?
Carta, Inc. was founded by Henry Ward, Manu Kumar. Gusto (ZenPayroll, Inc.) was founded by Joshua Reeves, Tomer London, Edward Kim.
Which company has a longer operating history — Carta, Inc. or Gusto (ZenPayroll, Inc.)?
Gusto (ZenPayroll, Inc.) has been operating for approximately 15 years, making it the more established of the two companies. Carta, Inc. has been in operation for around 14 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Carta vs Gusto overview