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SMB payroll startup Gusto raises $200M Series D, plans R&D expansion to NYC

Every employee loves receiving their paycheck. It just so happens, though, that paying employees can be a royal pain, what with incredibly diverse labor laws across all 50 U.S. states. While large, Fortune 500 employers have a bevy of options, from traditional firms like ADP to newer entrants like Workday, small and medium businesses (SMBs) face the brunt of the challenge — too small to be attractive to the biggest players, but still responsible for following the complexity of U.S. labor law.

Gusto was founded to solve that problem for SMBs, and so far, it has seen strong adoption. The company crossed the 100,000 customer barrier in the past year, out of an estimated six million small businesses in the United States. “I feel like we are still at the beginning stages,” Gusto’s founder and CEO Josh Reeves told TechCrunch….