On August 10, 2021, Gusto, Inc. closed the transaction. The company issued 5,757,463 shares and received $174,999,987.84779 in series E round led by returning investor T. Rowe Price Group, Inc. and included participation from Sands Capital Management, LLC, Durable Capital Partners, LP, Emerson Collective LLC, Glynn Capital Management, Cross Creek Advisors, LLC, Franklin Resources, Inc., Acrew Diversify Capital Fund, a fund managed by aCrew Capital, Friends & Family Capital Management, LLC, returning investors Fidelity Management & Research Company LLC, Generation Investment Management LLP, 137 Ventures, General Catalyst Group Management, LLC, Emergence Equity Management, Inc., Dragoneer Investment Group, LLC and other investors. The company received $174,999,867 from 48 investors pursuant to exemption provided under Regulation D.