Salsa Secures $20 Million In Series A Funding Led By Altos Ventures
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Salsa, a prominent provider of embedded payroll infrastructure, has announced the successful completion of a $20 million Series A funding round, led by Altos Ventures. The round also saw participation from Greycroft, SemperVirens, Definition, and Better Tomorrow Ventures (BTV), bringing Salsa’s total funding to $30 million.
This new investment is expected to further bolster the company’s capabilities in embedding payroll functionality seamlessly into software platforms.
Salsa Simplifies Payroll For Healthcare And Beauty Industries
Salsa’s system is made to help businesses easily build, start, and manage payroll services. The platform takes care of complicated tasks like worker sign-ups and tax filings. This means businesses don’t need big teams or a lot of payroll know-how to offer modern payroll solutions.
John Kramer, Salsa’s co-founder and Chief Executive Officer, said the company is now the fastest and easiest way to add payroll. He explained that the new funding would help Salsa make its system even better by adding more automation, flexibility, and support, especially in tough industries.
Salsa’s payroll system is helping companies in areas with tricky payroll needs, like healthcare. Businesses that help healthcare workers, like Jane and Maple, are using Salsa to make it easier to manage things like shifts, overtime, work locations, and following rules. This is helping millions of healthcare workers across the country.
Salsa is also helping businesses in the beauty and wellness world, like Daysmart, Mangomint, and GlossGenius, by making payroll easier for businesses with tricky rules about shifts, hours, tips, and commissions. These businesses save lots of time, which is important for busy owners.
Salsa Gains Industry Trust With Quick Deployment And Strong Investor Backing
Salsa’s system is very quick and simple, so many fast-growing companies in different areas . For example, HoneyBook, a company that helps independent businesses, got its first customer just 17 days after starting with Salsa. This shows how fast Salsa can help companies get started without needing a lot of extra work.
Oz Alon, Chief Executive Officer of HoneyBook, said that Salsa helped a lot by working closely with their team to solve problems. He said that hands-on support was very important to get a product that worked for their members.
Investors are also excited about Salsa. Tae Yoon, a partner at Altos Ventures, said that payroll is a big part of the future of technology, and Salsa is leading the way. He is happy to work with Salsa as it grows and helps more industries.
