| Type | Private |
|---|---|
| Industry | Payroll service bureau Software as a service |
| Predecessor | Ameripay Payroll, Ltd. (until December 2005) |
| Founded | Illinois, U.S. (1997) |
| Founder(s) | Steve Sarowitz |
| Headquarters | 3850 N. Wilke Road Arlington Heights, Illinois, U.S. |
| Number of locations | Arlington Heights, Illinois Lake Mary, Florida |
| Area served | North America |
| Key people | Steve Sarowitz (Founder and Chairman) Steve Beauchamp (President and CEO) Peter McGrail (CFO) |
| Products | WebPay Web Time |
| Services | Online payroll and HR solutions |
| Revenue | US$33,200,000 (2010), from $24,375,189 (2009) |
| Owner(s) | Steve Sarowitz, and Adams Street Partners (private equity) |
| Employees | 320 |
| Website | Paylocity.com |
Paylocity Corporation is a provider of online payroll and human resource solutions. It operates primarily a software-as-a-service business model. Its competitors include ADP and Paychex.
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Paylocity was founded in 1997 by Steve Sarowitz in Illinois.[1] The company was originally known as Ameripay Payroll Ltd. until December 2005.[2] As the company grew, it relocated from Franklin Park to Elk Grove Village and to its current location in Arlington Heights, Illinois.
Paylocity has grown from a small start-up with a handful of employees to a successful business with over 320 employees. The company has over 6,000 clients,[3] with a concentration in the Chicago market while expanding nationally.
Company revenues are rapidly increasing.
| Year | Revenue |
| 2010 | $33.2 Million [4] |
| 2009 | $24.4 Million [5] |
| 2008 | $19.9 Million [6] |
| 2007 | $17.5 Million [7] |
| 2006 | $14.2 Million [8] |
| 2005 | $10.7 Million [9] |
In May 2008, Paylocity announced a strategic partnership with Adams Street Partners, a private equity firm, which invested nearly $10 million in capital.[10] Jeff Diehl, a partner at Adams Street Partners, will join Paylocity's board of directors. Paylocity has a valuation of $60 million according to Dow Jones & Company's VentureWire.[11]
On seven occasions (2003, 2004, and 2007 - 2011), Paylocity has been named to the Inc. 5000, a list of America's fastest growing privately held companies.[7][12][13] Twice (2003 & 2004) the company made the Inc. 500 list.[14]
Paylocity has won multiple Stevie Awards, dubbed the business world's own Oscar Awards, for "Sales Department of the Year" (2010)[15] and "Contact Center of the Year" (2011).[16]
Paylocity has been recommended by a number of organizations, including Jimmy John's [17] and Ace Hardware.[18]