About Inova Payroll
Inova Payroll is a company based in Nashville (United States) founded in 2011 was acquired by UKG in December 2025.. Inova Payroll has raised $4.22 million across 1 funding round from investors including UKG, Nashville Capital Network and Chattanooga Renaissance Fund. Inova Payroll has completed 1 acquisition, including One Source Payroll. Inova Payroll offers products and services including Unified HCM Platform, Payroll Software, Benefits Administration, and Learning Management. Inova Payroll operates in a competitive market with competitors including Gusto, Justworks, Earnin, Paylocity and Payflow, among others.
- Headquarter Nashville, United States
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
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- Legal Name Inova Payroll, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$4.22 M (USD)
in 1 rounds
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Latest Funding Round
$4.22 M (USD), Series A
Jul 07, 2011
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Investors
UKG
& 3 more
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Employee Count
Employee Count
- Investments & Acquisitions
- Acquired by
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Products & Services of Inova Payroll
Inova Payroll offers a comprehensive portfolio of products and services, including Unified HCM Platform, Payroll Software, Benefits Administration, and Learning Management. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Integrated system for streamlining HR tasks and ensuring compliance.
Handles accurate payroll and tax filing for businesses.
Simplifies enrollment and management of employee benefits programs.
Tracks skills and supports employee development and performance.
Unlock access to complete
Funding Insights of Inova Payroll
Inova Payroll has successfully raised a total of $4.22M through 1 strategic funding round. The most recent funding activity was a Series A round of $4.22 million completed in July 2011. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series A — $4.2M
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First Round
First Round
(07 Jul 2011)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2011 | Amount | Series A - Inova Payroll | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Inova Payroll
Inova Payroll has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include UKG, Nashville Capital Network and Chattanooga Renaissance Fund. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investments are facilitated for US-based companies by angel network members.
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Founded Year | Domain | Location | |
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Seed and early-stage VC investments are made in the US.
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Founded Year | Domain | Location | |
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Private equity firm focused on acquiring businesses in supply chain, logistics, fintech, and multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Inova Payroll
Inova Payroll has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include One Source Payroll. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Payroll management services are provided to businesses nationwide.
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2004 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Inova Payroll
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Inova Payroll Comparisons
Competitors of Inova Payroll
Inova Payroll operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Gusto, Justworks, Earnin, Paylocity and Payflow, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based HR and payroll solutions are offered for small businesses.
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| domain | founded_year | HQ Location |
Benefits administration and payroll management are provided for businesses.
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| domain | founded_year | HQ Location |
Real-time access to earned wages is provided fee-free.
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| domain | founded_year | HQ Location |
Cloud-based payroll and HR solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Payflow is recognized as a financial wellness application for employees.
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| domain | founded_year | HQ Location |
Cloud-based HR and payroll management solutions are offered.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Inova Payroll
Frequently Asked Questions about Inova Payroll
When was Inova Payroll founded?
Inova Payroll was founded in 2011.
Where is Inova Payroll located?
Inova Payroll is headquartered in Nashville, United States. It is registered at Nashville, Tennessee, United States.
Is Inova Payroll a funded company?
Inova Payroll is a funded company, having raised a total of $4.22M across 1 funding round to date. The company's 1st funding round was a Series A of $4.22M, raised on Jul 07, 2011.
What does Inova Payroll do?
Inova Payroll was founded in 2011 and is based in Nashville, United States. Services in the HR and payroll sector are provided to enterprises, encompassing payroll processing, tax filing, benefits administration, and compliance management. Operations focus on integrated solutions to support business HR functions, with a domain presence at inovapayroll.com.
Who are the top competitors of Inova Payroll?
What products or services does Inova Payroll offer?
Inova Payroll offers Unified HCM Platform, Payroll Software, Benefits Administration, and Learning Management.
How many acquisitions has Inova Payroll made?
Inova Payroll has made 1 acquisition, including One Source Payroll.
Who are Inova Payroll's investors?
Inova Payroll has 4 investors. Key investors include UKG, Nashville Capital Network, Chattanooga Renaissance Fund, and Tritium Partners.