Paylocity, Inc will be recognized as the 2015 IVCA Venture-Backed Portfolio Company of the Year

Paylocity, Inc will be recognized as the 2015 IVCA Venture-Backed Portfolio Company of the Year

October 14, 2015

THE 2015 IVCA Porfolio Company of the Year Award (Venture Capital) will be presented to Paylocity.

The IVCA Portfolio Company of the Year Awards recognize outstanding Illinois companies who had a realized liquidity event in 2014 or 2015 and the exit was successful for investors.

Paylocity is a payroll and human resources software as a service (SaaS) business that serves US companies with 25-1,000 employees. Paylocity has become the leading independent provider of online payroll services and HR solutions with thousands of mid- market clients across the country. Founded by serial entrepreneur Steve Sarowitz; Paylocity’s current CEO Steven Beauchamp joined the company in 2007. IVCA founding member Adams Street Partners invested $10 million in Paylocity in 2008 when the company employed 192 people; today the company employes 1,320 in total and 635 in Illinois.  In March 2014 the company had a successful IPO that valued it at $831.7 million. Paylocity’s current market value is roughly $1.5 billion.