GoCo

GoCo provides a suite of HR, payroll, and benefits solutions under one platform for small businesses. In Q4 2022 the company launched new features which included 1) a performance management module, allowing end-to-end performance reviews, feedback, and employee tracking, 2) messages feature to send targeted team announcements via SMS or email, 3) 50+ integrations in categories such as productivity and product management, time tracking, applicant tracking, communication, payroll, etc., 4) improved payroll options, offering integration with ADP Workforce Now and a new beta payroll option powered by Gusto, 5) enhanced UI and 6) visual reports.

GoCo claims its platform stands out for its flexibility to support existing processes, policies, and providers, so SMBs don't have to change their workflows. Other notable product launches included the addition of 1) expense management features (February 2024), 2) engagement surveys, an AI-knowledge base, attendance management (November 2023) and 3) shift management scheduling (August 2023).

In February 2023, GoCo acquired WFHomie, a Canadian company that offers an employee experience and people analytics platform, for an undisclosed amount. The acquisition was part of its strategy to expand its offerings to include more products and services focused on improving employee experience and measuring engagement. The WFHomie team joined GoCo to work towards the development of more innovative products to create engaging and data-driven workplaces.

The company generates revenue via monthly subscriptions per employee, starting at USD 5.

Key customers and partnerships

As of April 2024, the company had over 400,000+ users across 10,000+ small and mid-sized US businesses using its platform.

GoCo has established partnerships with insurance benefits providers such as OneDigital and PayneWest to provide its clients with a complementary solution. In addition, the platform syncs with existing payroll providers such as ADP, PayChex, and Paylocity.

Funding and financials

In November 2022 GoCo raised USD 15 million in funding led by ATX Venture Partners, bringing the total recent investment to USD 27.5 million. Funds were earmarked to launch an expanded version of its platform in Q4 2022 with new features and enhancements, which includes 50+ new integrations, an improved user interface, visual reports, and insights.

The company claims it surpassed USD 1 million in annual recurring revenue (ARR) in 2017.