What Happened
Paycor, provider of an end-to-end suite of software-as-a-service human capital management solutions, has filed an initial public offering, the vendor announced on April 26. Paycor seeks to raise $100 million for this IPO, according to related filings with the Securities and Exchange Commission.
Background
A considerable percentage of Paycor’s client base comprises organizations employing 50 or fewer in staff. In recent years, however, net-new customers have been employers of 100 or more people. Competition in this space is significant. Though the approximate 1:1 comparisons to Paycor, founded in 1990, are a handful of mostly less seasoned providers all vying for the business of these small companies just beginning to grow into becoming fuller operations with grown-up needs in HCM, other, larger vendors have begun to move down market, as well, to service these employers’ needs.
Download the full 3Sixty Insights Market Alert: 3Sixty Insights – Market Alert Paycor’s Proposed IPO Shows Small Businesses Need Both Concrete and Abstract HCM