Paylocity Corporation
Encyclopedia
Paylocity Corporation is a provider of online payroll and human resource solution
s. It operates primarily a software-as-a-service business model. Its competitors include ADP
and Paychex
.
to Elk Grove Village
and to its current location in Arlington Heights, Illinois
.
Paylocity has grown from a small start-up with a handful of employees to a successful business with over 320 employees. The company has over 6,000 clients, with a concentration in the Chicago
market while expanding nationally.
Company revenues are rapidly increasing.
In May 2008, Paylocity announced a strategic partnership with Adams Street Partners, a private equity firm, which invested nearly $10 million in capital. Jeff Diehl,
a partner at Adams Street Partners, will join Paylocity's board of directors. Paylocity has a valuation of $60 million according to Dow Jones & Company
's VentureWire.
, a list of America's fastest growing privately held companies. Twice (2003 & 2004) the company made the Inc. 500 list.
Paylocity has won multiple Stevie Awards
, dubbed the business world's own Oscar Awards, for "Sales Department of the Year" (2010) and "Contact Center of the Year" (2011).
Paylocity has been recommended by a number of organizations, including Jimmy John's
and Ace Hardware
.
Solution
In chemistry, a solution is a homogeneous mixture composed of only one phase. In such a mixture, a solute is dissolved in another substance, known as a solvent. The solvent does the dissolving.- Types of solutions :...
s. It operates primarily a software-as-a-service business model. Its competitors include ADP
Automatic Data Processing
Automatic Data Processing, Inc. Automatic Data Processing, Inc. with about $10 billion in revenues and approximately 545,000 clients, is a provider of business outsourcing solutions. ADP offers a range of human resource, payroll, tax and benefits administration solutions...
and Paychex
Paychex
Paychex, Inc. is a payroll and human resource service company which serves approximately 572,000 businesses in the US. The company is headquartered in Penfield, New York and has more than 100 locations across the country...
.
History
Paylocity was founded in 1997 by Steve Sarowitz in Illinois. The company was originally known as Ameripay Payroll Ltd. until December 2005. As the company grew, it relocated from Franklin ParkFranklin Park, Illinois
Franklin Park is a village in Cook County, Illinois, United States. The population was 19,800 at the 2004 census.-Geography:Franklin Park is located at ....
to Elk Grove Village
Elk Grove Village, Illinois
Elk Grove Village is a municipality located in northeastern Illinois adjacent to O'Hare International Airport and the City of Chicago. Elk Grove Village encompasses in land area with located in Cook County and located in DuPage County, Illinois. The population was 32,745 at the 2010 census...
and to its current location in Arlington Heights, Illinois
Arlington Heights, Illinois
Arlington Heights is a village in Cook and Lake counties in the U.S. state of Illinois. A suburb of Chicago, it lies about 25 miles northwest of the city's downtown. The population was 75,101 at the 2010 census....
.
Paylocity has grown from a small start-up with a handful of employees to a successful business with over 320 employees. The company has over 6,000 clients, with a concentration in the Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
market while expanding nationally.
Company revenues are rapidly increasing.
| Year | Revenue |
| 2010 | $33.2 Million |
| 2009 | $24.4 Million |
| 2008 | $19.9 Million |
| 2007 | $17.5 Million |
| 2006 | $14.2 Million |
| 2005 | $10.7 Million |
In May 2008, Paylocity announced a strategic partnership with Adams Street Partners, a private equity firm, which invested nearly $10 million in capital. Jeff Diehl,
a partner at Adams Street Partners, will join Paylocity's board of directors. Paylocity has a valuation of $60 million according to Dow Jones & Company
Dow Jones & Company
Dow Jones & Company is an American publishing and financial information firm.The company was founded in 1882 by three reporters: Charles Dow, Edward Jones, and Charles Bergstresser. Like The New York Times and the Washington Post, the company was in recent years publicly traded but privately...
's VentureWire.
Recognitions
On seven occasions (2003, 2004, and 2007 - 2011), Paylocity has been named to the Inc. 5000Inc. (magazine)
Inc. magazine, founded in 1979 and based in New York City, is a monthly publication focused on growing companies. The magazine publishes an annual list of the 500 fastest-growing private companies in the U.S., the "Inc...
, a list of America's fastest growing privately held companies. Twice (2003 & 2004) the company made the Inc. 500 list.
Paylocity has won multiple Stevie Awards
Stevie Awards
The Stevie Awards were created in 2002 to honor and generate public recognition of the efforts, accomplishments, and positive contributions of companies and business people worldwide...
, dubbed the business world's own Oscar Awards, for "Sales Department of the Year" (2010) and "Contact Center of the Year" (2011).
Paylocity has been recommended by a number of organizations, including Jimmy John's
Jimmy John's
Jimmy John's is a franchised sandwich restaurant founded by Jimmy John Liautaud in 1983 and headquartered in Champaign, Illinois. The franchise has over 1000 locations in 39 states and has opened approximately 200 units per year for the last three years...
and Ace Hardware
Ace Hardware
Ace Hardware Corporation is a hardware cooperative based in Oak Brook, Illinois, United States. ACE Hardware Corporation, with 4,444 stores, does over $3 billion in retail hardware sales annually down from its peak of $12.5 billion in 2007.-History:...
.
Primary Competition
- ADPAutomatic Data ProcessingAutomatic Data Processing, Inc. Automatic Data Processing, Inc. with about $10 billion in revenues and approximately 545,000 clients, is a provider of business outsourcing solutions. ADP offers a range of human resource, payroll, tax and benefits administration solutions...
- PaychexPaychexPaychex, Inc. is a payroll and human resource service company which serves approximately 572,000 businesses in the US. The company is headquartered in Penfield, New York and has more than 100 locations across the country...
- Paycycle
- Intuit Online Payroll
- SurePayrollSurePayrollSurePayroll is an online payroll provider for small businesses employing one to 100 employees. Founded by Scott Wald in 2000, SurePayroll introduced online Software as a Service payroll and payroll-tax filing process for small businesses interested in outsourcing their payroll. On February 9,...