IPO-pedia | HRM software Justworks is going public this Thursday

Justworks, a cloud-based software platform, is expected to be listed on Nasdaq on January 13, EST, under the symbol "JW".

The company plans to issue 7 million shares at a price range of $29 to $32 per share to raise $214 million, giving JW a fully diluted market capitalization of $2.2 billion at the midpoint of the proposed range.

Goldman Sachs, J.P. Morgan, BofA Securities are the lead underwriters for the offering.

Founded in 2012, Justworks, a human resources software manufacturer, integrates benefits, automated payroll and human resources tools to save operating costs and improve work efficiency.

The professional employer organization and 24/7 expert service of Justworks have received users' praise.

Over 8,000 customers across all 50 U.S. states representing almost 140,000 worksite employees, as of November 30, 2021, trust Justworks as their human capital management platform.

Justworks is also consistently ranked as a top place to work. In 2021, Justworks won the Gold and Silver Stevie® Awards for Sales & Customer Service, including for our COVID-19 response.

It secured a top-three placement in Selling Power's “50 Best Companies to Sell For”rankings for the fourth consecutive year, and Justworks were recognized by Fortune Magazine and Great Place to Work® as one of the “Best Workplaces in NYC” for the fourth time.

Since October 2013, Justworks has received six rounds of venture capital investment from investment firms such as Bain Capital, Spark Capital and FirstMark.

Justworks' business has experienced significant historical growth.

For the fiscal years ended May 31, 2021 and 2020, the total revenue of Justworks is $982.7 million and $742.4 million, representing 32.4% year-over-year growth.

The gross profit of Justworks is $106.1 million and $77.1 million, representing 37.6% year-over-year growth.