About Paychex
Paychex is a company based in New York (United States) founded in 1971.. The company has 19,000 employees as of May 31, 2024. Paychex has completed 15 acquisitions, including Advance Partners, Alterna Capital Solutions and BeneTrac. Paychex operates in a competitive market with competitors including Gusto, ADP, Paycor, TriNet and Personio, among others.
- Headquarter New York, United States
- Employees 19000 as on 31 May, 2024
- Stage Public
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Paychex, Inc.
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Annual Revenue
$5.57 B5.56as on May 31, 2024
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Net Profit
$1.66 B-1.96as on May 31, 2024
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EBITDA
$2.58 B9.74as on May 31, 2024
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Latest Funding Round
$15.8 M (USD), Post-IPO
Nov 12, 2018
- Investors
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Employee Count
19000
as on May 31, 2024
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Investments & Acquisitions
Advance Partners
& 14 more
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IPO & Listings of Paychex
Paychex is a publicly listed company on the NASDAQ with ticker symbol PAYX in USA, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
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Sales and Marketing
135 people
Software Development Team
65 people
Human Resources and Administration
36 people
Product Management Team
29 people
Leadership Team
20 people
Senior Team
16 people
Strategic Team
13 people
Operations Team
11 people
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Funding Insights of Paychex
- Total Funding Total Funding
- Total Rounds 3
- Last Round Post-IPO — $15.8M
- First Round First Round
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2018 | Amount | Post-IPO - Paychex | Valuation |
investors |
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| Dec, 2016 | Amount | Post-IPO - Paychex | Valuation |
investors |
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| Jun, 2016 | Amount | Post-IPO - Paychex | Valuation |
investors |
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| 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 Paychex
Paychex has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Acadian Asset. 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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Provides systematic asset management and investment strategies for clients worldwide.
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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 Paychex
Paychex has strategically engaged in corporate development activities, having acquired 15 companies. Notable acquisitions include Advance Partners, Alterna Capital Solutions and BeneTrac. 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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Working capital loans provider
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2018 | ||||
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Automation solutions for legal case management and documents are provided.
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2016 | ||||
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Provider of SaaS platform for employee benefits management
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2015 |
| 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 - Paychex
| 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 |
Paychex Comparisons
Competitors of Paychex
Paychex 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, ADP, Paycor, TriNet and Personio, 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 |
Cloud-based HR management solutions are offered for payroll and compliance.
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| domain | founded_year | HQ Location |
Cloud-based HRMS platform is provided for small and medium-sized businesses.
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| domain | founded_year | HQ Location |
Cloud-based HRMS platform is offered for small and medium businesses.
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| domain | founded_year | HQ Location |
Cloud-based HRMS platform is offered for small and medium-sized businesses.
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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 Paychex
Frequently Asked Questions about Paychex
When was Paychex founded?
Paychex was founded in 1971 and raised its 1st funding round 45 years after it was founded.
Where is Paychex located?
Paychex is headquartered in New York, United States. It is registered at New York, New York, United States.
How many employees does Paychex have?
As of May 31, 2024, the latest employee count at Paychex is 19,000.
What is the annual revenue of Paychex?
Annual revenue of Paychex is $5.57B as on May 31, 2024.
What does Paychex do?
Paychex was established in 1971 in New York, United States, within the human resources management sector. A cloud-based platform is utilized to deliver HRMS solutions, encompassing payroll processing, employee profiles, tax documentation, retirement balances, and benefits tracking. Operations include onboarding support, employee development tools, HR administration, payroll integration, and compliance assistance, serving businesses across various industries.
Who are the top competitors of Paychex?
Is Paychex publicly traded?
Yes, Paychex is publicly traded on NASDAQ under the ticker symbol PAYX.
How many acquisitions has Paychex made?
Paychex has made 15 acquisitions, including Advance Partners, Alterna Capital Solutions, and BeneTrac.
Who are Paychex's investors?
Paychex has 1 investor. Key investors include Acadian Asset.
What is Paychex's ticker symbol?
The ticker symbol of Paychex is PAYX on NASDAQ.
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