Salsa, a San Francisco, California-based startup specializing in enabling software platforms to seamlessly integrate and launch payroll features within their own products, has successfully raised $10 million in funding. The investment round was led by Greycroft, Better Tomorrow Ventures, and Definition, and featured participation from Cambrian’s Rex Salisbury and Forum Ventures. Additional investors included industry leaders such as Oz Alon (CEO, HoneyBook), Avlok Kohli (CEO, AngelList), Jess Mah (co-founder, inDinero), Daniel Simon (CEO, Coast), Kerry Wang (CEO, Searchlight), Russ Heddleston (co-founder, Docsend), Roger Lee (co-founder, Human Interest), Mengxi Lu (CEO, Kanmon), and Alex Alpert.
The company plans to use the funds to continue developing its product and expand its team. Salsa’s innovative platform allows developers to introduce a payroll product tailored to their customers’ needs. The target customers for Salsa’s services include business management software platforms, neobanks, staffing agencies, and workforce management tools that seek to offer a more customized payroll experience to the markets they cater to.
Salsa’s APIs can be embedded into various platforms such as:
- A point-of-sale system at a local cafe
- Scheduling software used by a landscaper
- A booking platform at a hair salon
- A neobank catering to small businesses
- The freight management system utilized by a trucking company
At present, Salsa’s services are available to software platforms serving businesses in both the United States and Canada. The company generates revenue by taking a share of the earnings that software companies make from the payroll product while handling the operational side