Paycor HCM, which provides a SaaS human capital management platform for SMBs, raised $426 million by offering 18.5 million shares at $23, above the range of $18 to $21.
Paycor states that it is a leading Software-as-a-Service provider of human capital management (HCM) solutions for small and medium-sized businesses. Its suite of solutions enables organizations to streamline HCM and payroll workflows and achieve regulatory compliance while serving as the single, secure system of record for all employee data. Paycor serves over 28,000 customers across the US, primarily targeting companies with 10 to 1,000 employees.
Paycor HCM plans to list on the Nasdaq under the symbol PYCR. Goldman Sachs, J.P. Morgan, Jefferies, Credit Suisse, Deutsche Bank, Baird, and Truist Securities acted as joint bookrunners on the deal.
