Reeves: Gusto rejected 11 VC firms to raise seed solely from angels
Josh Reeves · From A Pivot To Building A $9.6 Billion Payroll Company · Y Combinator · Mar 18, 2025 · at 13:51
Josh Reeves is the co-founder and CEO of Gusto. He reflects on Gusto's 2012 seed fundraising strategy following Y Combinator.
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“We had, I think, like, over 11 VC firms offer to invest. We actually chose to do the round with no VC firms. It was all angels, so we raised from, you know, twenty-plus CEOs and founders. It was, you know, the CEOs and founders of, you know, PayPal and Stripe and, you know Mint and Instagram”
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