Companies · Other Technology

Justworks, Inc.

NEW YORK · Other Technology

Diligence memoA one-page analyst read on Justworks, Inc. — recommendation, valuation, rhythm, risks.
$130.4M
Total raised · real
5
Rounds
0.3×
Latest step-up
Top 3%
Sector rank · raised
Series C
Latest stage · inferred · Wed Sep 27 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Justworks, Inc. looks under-valued against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.30× the median modeled value of Series C Other Technology companies in 2022–2024 (187 peers) — value vs value, same stage and era.
At-risk
  • Last raise 2.8 yr ago; this sector typically re-raises about every 13 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Technology

Justworks, Inc. is one of 21302 Other Technology companies tracked from NEW YORK. By capital raised it ranks among the largest (ahead of 98% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
19
Investors (latest)
2023-09-27
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$500M$1.0B$1.5B$2.0BSeries A · 2014-09-30 Raised $11M (real) Modeled valuation $292M (est)$11M$292MSeries A2014Series A · 2015-04-29 Raised $13M (real) Modeled valuation $361M (est)$13M$361MSeries A2015Series C · 2018-02-21 Raised $40M (real) Modeled valuation $1.3B (est)$40M$1.3BSeries C2018Series C · 2020-01-16 Raised $50M (real) Modeled valuation $1.6B (est)$50M$1.6BSeries C2020Series C · 2023-09-27 Raised $17M (real) Modeled valuation $198M (est)$17M$198MSeries C2023+$13M+$40M+$50M+$17MCumulative $130M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$10.5M · 2014
Series A extension$13.0M · 2015
Series C$40.0M · 2018no Series B on file
Series C extension$50.0M · 2020
Series C extension$16.8M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$198.3M
Base estimate est.
$63.8M
Conservative case
$334.6M
Upside case
$112.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Series A · modeled $291.9M · 2014-09-302014Series A · modeled $360.6M · 2015-04-29Series C · modeled $1.3B · 2018-02-21Series C · modeled $1.6B · 2020-01-16Series C · modeled $198.3M · 2023-09-272023
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
76%
Survival probability
57% low · 88% high
1.35×/yr
Annual markup
1.55×/yr upside case
2.8 yr
Elapsed time used
2.8 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
27 mo
Avg between rounds
$14.5M/yr
Capital velocity
11.8 yr
On record since
2014
First round
5
Rounds on file
How it compares to the market

Benchmarked against 21302 companies in Other Technology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 41× above median
This company$130.4M
Sector median$3.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.3× of median
This company$16.8M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 5.3× above median
This company$198.3M
Sector median$37.3M

Raised more than 98% of sector peers (real $). Modeled value above 83% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #160 of 187.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)LinkSquares, Inc. · Series C Raised $160.2M · modeled $1.9B (est)Semperis Ltd. · Series C Raised $130.0M · modeled $1.8B (est)Veev Group, Inc. · Series C Raised $94.5M · modeled $1.8B (est)GPI Acquisitions, Inc. · Series C Raised $175.0M · modeled $1.7B (est)DVX Ventures LLC · Series C Raised $119.8M · modeled $1.5B (est)Ncr Corp · Series C Raised $73.7M · modeled $1.5B (est)RelationalAI, Inc. · Series C Raised $74.0M · modeled $1.4B (est)Nantero Inc · Series C Raised $172.9M · modeled $1.4B (est)MoEngage, Inc. · Series C Raised $172.2M · modeled $1.4B (est)H2scan Corp · Series C Raised $83.2M · modeled $1.4B (est)ITsavvy Holdings, LLC · Series C Raised $81.4M · modeled $1.4B (est)Coherent Group Inc. · Series C Raised $74.0M · modeled $1.3B (est)Justworks, Inc. (this company) Raised $130.4M · modeled $198.3M (est)Justworks, Inc.
CompanyStageRaised · realValue · estvs peer med.
LinkSquares, Inc.Series C$160.2M$1.9B2.80×
Semperis Ltd.Series C$130.0M$1.8B2.74×
Veev Group, Inc.Series C$94.5M$1.8B2.71×
GPI Acquisitions, Inc.Series C$175.0M$1.7B2.47×
DVX Ventures LLCSeries C$119.8M$1.5B2.27×
Ncr CorpSeries C$73.7M$1.5B2.19×
RelationalAI, Inc.Series C$74.0M$1.4B2.07×
Nantero IncSeries C$172.9M$1.4B2.06×
MoEngage, Inc.Series C$172.2M$1.4B2.05×
H2scan CorpSeries C$83.2M$1.4B2.03×
ITsavvy Holdings, LLCSeries C$81.4M$1.4B2.03×
Coherent Group Inc.Series C$74.0M$1.3B2.02×
Justworks, Inc. this companySeries C$130.4M$198.3M0.30×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$10.5M2014-09-30$47.8M$291.9M85%
Series A$13.0M2015-04-29$59.1M$360.6M85%
Series C$40.0M2018-02-21$266.7M$1.3B90%
Series C$50.0M2020-01-16$333.3M$1.6B90%
Series C$16.8M2023-09-27$112.3M$198.3M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$10.5M2014-09-30
    • First recorded raise — entered as Series A.
    • 22 investors on this round.
  2. Series A$13.0M2015-04-29
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 10 investors on this round.
  3. Series C$40.0M2018-02-21
    • Raised again after 34 mo — slower than the ~13 mo sector norm.
    • Round 3.1× larger than the prior — scaling up.
    • 11 investors on this round.
  4. Series C$50.0M2020-01-16
    • Raised again after 23 mo — slower than the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 17 investors on this round.
  5. Series C$16.8M2023-09-27
    • Raised again after 44 mo — slower than the ~13 mo sector norm.
    • Round 3.0× smaller than the prior — bridge or down round.
    • 19 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~27mo cadence
$16.8M
Modeled next size est.range $16.8M$26.9M
0.3×
Last step-up
$14.5M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Matthew Harris12 other2023-09
Matt Harris8 other2018-02
Jared Weinstein2 other2018-02
Kristina Leslie1 other2020-01
Michael Seckler1 other2018-02
WILL GAYBRICK1 other2014-09
Charles Berg2018-02
Chiu Emily2023-09
ISAAC OATES2014-09
Johnathan Mirian2023-09
Karen Magee2020-01
Seckler Michael2023-09
Registry & provenance

Justworks, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1623414
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Glassdoor IncOther TechnologySeries C$199.2M$1.3Bnetwork1 shared operator · same sector · same stage
LeafLink, Inc.Other TechnologySeries C$81.1M$940.2Mnetwork1 shared operator · same sector · same stage
Roofstock, Inc.Other TechnologySeries C$80.3M$1.6Bnetwork1 shared operator · same sector · same stage
Simple Finance Technology CorpOther TechnologySeries A$11.4M$62.7Mnetwork2 shared operators · same sector
Cellular Longevity, Inc.Other TechnologySeries C$137.3M$190.5Msame sector · same stage
Booster Fuels, Inc.Other TechnologySeries C$121.4M$209.5Msame sector · same stage
TMGcore, Inc.Other TechnologySeries C$90.0M$199.8Msame sector · same stage
Kustomer, Inc.Other TechnologySeries C$190.0M$203.4Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Just Goods, Inc.Other TechnologySeries A$265.6M90%
Bearworks, Inc.Other TechnologySeed$38.1M88%
Freshworks Inc.Other TechnologySeries D+$7.9B88%
JustAir, Inc.Other TechnologySeed$34.8M88%
Canworks, Inc.Other TechnologySeries A$24.3M87%
Teamworks Innovations, Inc.Other TechnologySeries C$176.4M87%
Softworks Holdings, Inc.Other TechnologySeries B$38.9M87%
AllWork Inc.Other TechnologySeed$33.3M87%
Frequently asked
How much funding has Justworks, Inc. raised?
Justworks, Inc. has raised approximately $130.4M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Justworks, Inc.'s estimated valuation?
Provath's modeled valuation for Justworks, Inc. is approximately $198.3M (modeled range $63.8M–$334.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Justworks, Inc. at?
Justworks, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Wed Sep 27.
What does Justworks, Inc. do and where is it based?
Justworks, Inc. operates in the Other Technology sector, based in NEW YORK.
Explore related

See where Justworks, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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