Paylocity Explained

Paylocity Holding Corporation
Type:Public
Traded As:NASDAQ:
S&P 400 Component
Industry:Payroll service bureau
Software as a service
Predecessor:Ameripay Payroll, Ltd. (until December 2005)
Foundation: Illinois, U.S.
Founder:Steve Sarowitz
Hq Location City:Schaumburg, Illinois
Locations:Schaumburg, Illinois
Lake Mary, Florida
Rochester, New York
Meridian, Idaho
Area Served:North America
Key People:Steve Sarowitz
 (chairman)
Steve Beauchamp
 (CEO)
Toby Williams (CFO)
Michael Haske (COO)
Cheryl Johnson (CHRO)
Mitch Hood (CISO)
Andy Cappotelli (CAO)
Meera Mehta (CMO)
Products:HR & Payroll
Time & Labor
Web Link
Recruiting
Expense Management
Web Benefits
Onboarding
Performance Management
Compensation Management
Community
Services:Online payroll and HR
Revenue: (2023)[1]
Operating Income: (2023)
Net Income: (2023)
Assets: (2023)
Equity: (2023)
Owner:Steve Sarowitz, and
Adams Street Partners (private equity)
Num Employees:6,200 (2023)[2]
Location Country:U.S.

Paylocity Holding Corporation is a leading provider of cloud-based payroll and human capital management (HCM) software solutions headquartered Schaumburg, IL.

History

Founded in 1997 and publicly traded since 2014, Paylocity has consistently been recognized nationally for its innovation, culture, and growth. The company was founded as Ameripay Payroll Ltd. by Steve Sarowitz in 1997.[3] It was renamed Paylocity in December 2005.[3] [4] It relocated from Franklin Park, Illinois to Elk Grove Village, and later to Arlington Heights. The company has leased 309,000 square feet of office space in the former headquarters of Zurich Insurance North America in Schaumburg, Illinois. The move was completed in 2019.[5]

It was one of the 5,000 fastest growing private companies according to Inc. Magazine in 2003, 2004, and from 2007 to 2014.[6] The company was also included in the Deloitte Fast 500 as one of the fastest growing technology companies in 2013,[7] 2014,[8] and 2015.[9]

Paylocity held an initial public offering (IPO) in March 2014, raising about $120 million.[10]

The company was listed in Glassdoor's Best Places to Work in 2019.[11]

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

Notes and References

  1. Paylocity Announces Fourth Quarter and Full Fiscal Year 2023 Financial Results . Aug 3, 2023 . Paylocity .
  2. Web site: Investor Presentation Q2 FY2022 . Paylocity . 20 April 2022.
  3. Web site: Company Overview of Paylocity Corporation . . December 9, 2015 . December 9, 2015.
  4. Web site: Corp/LLC Certificate of Good Standing . . December 9, 2015.
  5. Web site: Ori. Ryan. Paylocity completes big HQ lease in Schaumburg. Crain's Chicago Business. Crain's Chicago Business. 2016-08-28.
  6. Web site: Paylocity . . December 9, 2015.
  7. Web site: Technology Fast 500™ Powerful connections . . 2013 . December 9, 2015.
  8. Web site: Deloitte's 2014 Technology Fast 500™ Ranking . . 2014 . December 9, 2015.
  9. Web site: Deloitte's 2015 Technology Fast 500™ Ranking . . 2015 . December 9, 2015.
  10. News: 2014-03-19. Shares of payroll processor Paylocity soar in debut . Reuters . 2020-05-27.
  11. Web site: Best Places to Work . Glassdoor. en. 2018-12-20.
  12. Web site: 100 Fastest-Growing Companies: Paylocity Holding . 2021-10-28 . Fortune.