Gusto reaches $1B revenue, eyes IPO

Gusto, a 14-year-old HR tech startup, has surpassed $1 billion in actual revenue, a significant milestone that positions it strongly against competitors like Deel and Rippling. The company, last valued at over $9 billion, has also integrated AI extensively, with AI now responsible for 50% of new code generation and customer support cases, leading to reported efficiency gains. Following its acquisition of Guideline and strategic board appointments, Gusto's financial performance and operational advancements suggest it is well-prepared for a potential future fundraise or an IPO, despite a currently challenging market.