# Wagepoint

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/wagepoint

- Industry: Software
- Headquarters: Calgary, Canada
- Website: www.wagepoint.com
- Total disclosed funding: $2M
- Latest round: Seed (Dec 9, 2014)
- Investors on record: 3

## About

Founded in 2012 and based in Calgary, Canada, Wagepoint Inc. develops cloud-based payroll software for businesses. In 2020, PSG Equity invested in Wagepoint Inc. In August 2022, Wagepoint Inc., a portfolio company of Providence Equity Partners, acquired KinHR, LLC. As of June 2024, the company is led by CEO Shrad Rao.
 
The company offers a platform that allows employers to manage direct deposits, automate payroll taxes, and provide online access to paystubs, reducing administrative overhead and compliance risks. The features include direct deposit, automated tax calculations and remittances, the generation of paystubs, and support for employee self-service.  The People by Wagepoint platform offers functionalities like employee onboarding, data management, performance reviews, time-off tracking, and electronic signatures. Wagepoint Inc. allows businesses to streamline employee scheduling, time tracking, and attendance management through an intuitive, mobile-friendly interface. This accessibility extends to both administrators and on-the-go employees, facilitating real-time updates and seamless communication. Additionally, Wagepoint handles year-end tax forms (T4/T4A) and record of employment (ROE) generation.
 
The company employs a subscription-based revenue model, with pricing plans of CAD 20 per month (plus USD 4 per employee/contractor) for solo and CAD 40 per month (plus USD 5 per employee/contractor).
 
The August 2022 acquisition will allow Wagepoint Inc. to complete its stack of small business products, and offer CEOs and founders take care of their people upon hiring.

## Funding rounds

- Seed, Dec 9, 2014, $2M — BDC Capital, Extreme Venture Partners, Atlantic Canada Opportunities Agency

## Investors

- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Seed
- Extreme Venture Partners (https://capitalatlas.ai/funds/extreme-venture-partners) — Seed
- Atlantic Canada Opportunities Agency — Seed