Hourly

Overview
Activities
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Remote Work Infrastructure?
Product stageSegments
Early
?
Pure Play Payroll and Benefits Platforms
?

Hourly is a payroll and benefits platform for small and medium enterprises (SMEs). The company’s clientele is located in California and has access to benefits in the form of worker compensation insurance. Hourly’s payroll function complements its services with payroll tracking to calculate worker compensation premiums.

The company claims that it is the first platform that lets employers run payroll, track time and attendance, and manage workers’ comp insurance premiums in a singular platform.

The company generates revenue through monthly subscriptions per employee (USD 12 - USD 16) on top of a base fee (USD 80 - 120). 

Key customers and partnerships

In July 2023, Hourly partnered with Nationwide to roll out its payroll services to a wider client base, including construction, landscaping, painting, companion care and other skilled trades.

Funding and financials

The company’s latest funding round was in August 2023, where it raised USD 27 million in a Series A round led by Glilot Capital Partners. Funds were earmarked to expand its insurtech platform outside the state of California.

HQ location:
660 Homer Avenue Palo Alto CA USA
Founded year:
2018
Employees:
51-100
IPO status:
Private
Total funding:
USD 39.2 mn
Last Funding:
USD 5.0 mn (Series A; Nov 2022)
Last valuation:
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