Powerful integration allows startups to save time and reduce costly errors by automatically syncing relevant hiring, onboarding, and equity data.
BOSTON, MA / ACCESSWIRE / May 10, 2022 / Life moves fast for growing companies. Shoobx and Gusto are teaming up to make equity management, HR, and payroll software work harder for busy startup teams.
Shoobx, an equity management platform that provides an automated cap table and data room to help private companies streamline day-to-day business processes and make financings easier, announced a new integration with Gusto, the all-in-one HR platform for hiring, payroll, benefits, and more. This powerful integration will make daily operations more efficient for growing businesses. Together, Shoobx and Gusto will provide startups more peace of mind in the accuracy of employee records, and increased confidence in their readiness for the due diligence process during a fundraise.
“The complexity of managing employee documentation, records, and equity ownership is frustrating for many private companies,” said Jason Furtado, CEO & Co-Founder of Shoobx. “Dealing with this data is a manual, day-to-day task for companies that need to hire and scale quickly to survive. The Shoobx-Gusto combination helps startup teams simplify fundraising, due diligence, and hiring – so they can instead focus on their product and their customers.”
The Shoobx-Gusto integration addresses the complexities of two areas with frequent crossover: human resources and equity management. The integration allows users to automatically sync relevant hiring, onboarding, and equity data between Shoobx and Gusto, reducing the need for error-prone and duplicate data entry.
Executives, attorneys, and investors will gain a holistic view of employee compensation and equity. Shoobx provides templates for standardized hiring legal documents, such as offer letters and intellectual property protection agreements. The platform captures the data from those documents, automatically updating the company’s cap table once they’re executed. All relevant data is stored in a secure Shoobx automated data room.
With the Shoobx-Gusto integration, hiring data will also be pushed to Gusto, resulting in automatic updates of a new employee’s tax, payroll and benefit information. Future compensation changes executed through Shoobx will also be auto-updated in the Gusto system.
“Gusto’s app ecosystem connects growing businesses with hundreds of best-in-class partner solutions,” said Matt Smallwood, Gusto’s Head of Product Partnerships. “By integrating Gusto’s HR and Payroll software with Shoobx’s robust equity management solutions, we’ll solve key challenges for joint customers so they can focus on running their businesses and creating a work environment where their employees prosper.”
With the Shoobx-Gusto integration, when a company hires a new employee, the stock options promised in the offer letter are tracked automatically in Shoobx, and the salary details are transferred to Gusto to get payroll started. Any updates made to records in one system will be reflected in the other, so users never have to worry about outdated job information. Employment agreements are automatically organized and securely stored in the Shoobx data room, so they are up-to-date and ready to go when it’s time to fundraise – and there’s no need to hunt down an important document or signature.
“Growing a company is really hard, especially when you consider the complex web of financial, legal, and human resources elements required,” said Lynne Zagami, an attorney and Head of Customer Success at Shoobx. “The Shoobx-Gusto combo empowers startup teams to maintain their employee and equity records on a daily basis, giving them confidence in their data when it’s time for their next financing.”
For more information on connecting Shoobx and Gusto, visit shoobx.com/gusto.
Shoobx is an equity management platform that provides an automated cap table and data room to help private companies streamline day-to-day business processes and make financings easier. By focusing on data integrity and risk reduction, the Shoobx platform streamlines everything from employee onboarding to issuing equity grants to maintaining a dynamic cap table, enabling companies to grow rapidly while staying financing-ready. Thousands of executives, investors, and attorneys rely on Shoobx to get paperwork right the first time and make legal diligence easy and fast.
Raise your next round with confidence at shoobx.com.
Gusto is a modern, online people platform that helps small businesses take care of their teams. In addition to full-service payroll, Gusto offers health insurance, 401(k)s, expert HR, employee self-onboarding, and team management tools. The company serves over 100,000 businesses nationwide and has offices in Denver, New York City, and San Francisco.
Manage your growing team, all in one place at gusto.com.
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