Atomic's total funding now stands at $35.5M. Here are the top-line bullets you need to know.
Atomic, a payroll API provider, has raised $22M in a Series A. This round drew participation from Core Innovation Capital, Greylock Capital Management, and Portag3 Ventures.
How’s the company performing?
- Utah-based Atomic’s payroll APIs connect payroll accounts to third-party apps in order to streamline direct deposit switching and employment/income verification for users.
- The company offers both on-demand and subscription services.
- Atomic’s customer base includes over 40 fintech and technology firms, such as Coinbase, Propel, Lendtable, Klover, Unifimoney, and Bottomline.
- The company states that it aims to reach 120M Americans (75% of the overall population) by the end of 2021.
Why does the market matter?
- The global HR payroll software market is projected to grow at a CAGR of 4.9% and reach a value of $5.89B by 2025, according to Apex Market Research.
- The on-demand economy, the increasing popularity of flexible payment methods, and the rise of distributed workforces amid Covid-19 have contributed to market growth.