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Paylocity
Paylocity is a publicly traded SaaS company providing payroll and HR software to over 36,000 US mid-market employers.
Paylocity
Paylocity was founded in 1997 by Steven Sarowitz in Arlington Heights, Illinois. The company went public in 2014 and is now headquartered in Schaumburg, Illinois. It builds cloud-based human capital management software designed for mid-sized US organizations. The company's platform spans payroll processing, time and labor management, benefits administration, talent acquisition, and workforce analytics. It competes directly with ADP, Paychex, and Workday in the core HR and payroll automation space. Paylocity's client base is concentrated among US businesses with 20 to 1,000 employees. The firm generates revenue through recurring per-employee-per-month subscription fees. Steve Beauchamp served as CEO from 2007 until his retirement in 2022, when Toby Williams assumed the role. The company maintains its primary operations in Illinois, with additional offices in Florida, Idaho, and other domestic locations. In fiscal year 2024, Paylocity reported over $1.4 billion in total revenue. Founder Steven Sarowitz has since focused on philanthropic ventures, primarily through the Julian Grace Foundation. Unlike family offices profiled by Altss, Paylocity operates as a publicly held technology company subject to SEC reporting requirements. Its capital allocation decisions — including share buybacks and equity-based employee compensation — are disclosed in quarterly filings. The firm does not manage third-party capital or operate an investment vehicle for a single-family wealth pool.
General information
Firm type
other
Year founded
1997
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Schaumburg
Corporate office
Schaumburg, IL, United States
Principals
Steven Sarowitz
Founder
Toby Williams
Chief Executive Officer
Sector focus
Frequently asked questions
Is Paylocity a family office?
No. Paylocity is a publicly traded corporation listed on the Nasdaq under the ticker PCTY. It sells payroll and HR software to other businesses and does not function as a private investment office.
Who runs Paylocity today?
Toby Williams has served as CEO since 2022. He succeeded Steve Beauchamp, who led the company from 2007 through its 2014 IPO and most of its growth into a billion-dollar revenue business.
What does Paylocity sell?
Paylocity's cloud platform handles payroll and tax filing, time tracking, employee benefits administration, recruiting and onboarding, and learning management. It also includes peer-recognition social feeds and survey tools.
How large is Paylocity's client base?
The firm reports serving over 36,000 organizations, primarily US-based businesses with roughly 20 to 1,000 employees. The platform is designed for the mid-market segment rather than multinational enterprises.
Does Paylocity hold a portfolio of private investments?
It does not. As an operating software business, its capital is deployed into research and development, sales and marketing, acquisitions like Airbase, and share repurchases — not a private equity or venture capital portfolio.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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