Paycycle
PayCycle Inc. is an online payroll service started in 1999 by Rene Lacerte and Martin Gates. It offers payroll services for small businesses and accountants. It has 75,000 small business customers, and partners with companies such as The Hartford and ATX. It is financially backed by August Capital, among other capitalist firms. PayCycle is headquartered in Palo Alto, California, and has a subsidiary location in Schaumburg, Illinois.
History
Founded in 1999 by two former Intuit employees, Lacerte and Gates, PayCycle was the first company to introduce a completely Internet-based payroll service. It also boasts the DIWYSM (Do-It-With-You) technology platform, which guides the user through the online payroll process. In 2002, PayCycle completed its third round of investment funding at $11.5 million. It finished its last round of funding in April 2005 at $8.5 million, bringing its total financing to date to $29.3 million. Financing investors included DCM-Doll Capital Management, August Capital, Conning Capital Partners, Total Technology Ventures and Irwin Ventures.
The current CEO of PayCycle is Jim Heeger.
Awards and Recognitions
- 2008
PC Magazine's Editor's Choice Award
CPA Trendlines's Reader's Choice Award
Stevie Awards Best Support Organization/Department Finalist
Stevie Awards Best Marketing Campaign
Stevie Awards Most Innovative Company - Up to 2500 Finalist
- 2007
WebCPA's Top 100 Products
CPA Technology Advisor's Winner of the Reader's Choice Award
Best Tool for Managing Payroll by Inc. Magazine
Stevie Awards Best Customer Service Team Finalist
Stevie Awards Most Innovative Company - Up to 2500 Finalist
- 2006
PC Magazine's Editor's Choice Award
Accounting Today's Top 100 Products
CPA Technology Advisor's Tax & Accounting Technology Innovation Award
CPA Technology Advisor's Winner of the Reader's Choice Award
Codie Awards Best Software As A Service Solution Finalist
Codie Awards Best Business Software Solution Finalist
Stevie Awards Best New Product or Service - Accounting Finalist
Stevie Awards Best Customer Service Organization Finalist
- 2005
Codie Awards Best Software Service Finalist
Stevie Awards Best New Product or Service - All Other Industries Finalist
Stevie Awards Best Customer Service Organization Finalist
- 2002
CNET's Trendsetters of the future
Competitors
- Automatic Data Processing
- Paychex
- SurePayroll