Payroll Integrations, a San Diego, CA-based employee financial well-being technology company, raised $20M in Series A funding.
The round was led by Arthur Ventures.
The company intends to use the funds to expand its product line and relationships with payroll companies and benefit platforms to further employees’ financial wellness journey through data connectivity.
Founded in 2016 by Co-Founders Doug Sabella and Andrew Hallengren, Payroll Integrations is a technology company working on how employers support employees’ financial well-being through benefit automation. It integrates payroll providers and benefit platforms to establish a direct two-way connection. The proprietary technology captures employee census and payroll data directly from the payroll companies, extracts relevant information, and converts the data into a structured, ready-to-use format for their clients.
The integration platform is used by more than 4,000 businesses to connect payroll with retirement, HSA and other employer-sponsored benefit plans for over one million employees. Payroll providers including ADP, Paychex, Quickbooks Online and others use it to connect with 401k benefit providers such as Empower, Transamerica, Principal, VOYA and John Hancock.
Payroll Integrations, a San Diego, CA-based employee financial well-being technology company, raised $20M in Series A funding. Best wishes to everyone in the group. This will be a huge accomplishment for them in the future.
Shishir Gupta, The Founder & CEO of StartupLanes
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