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Salsa Lands $20M Series A to Make Embedded Payroll Seamless for Software Providers

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1 year ago

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Fastest-growing embedded payroll provider launching payroll products across all 50 U.S. states and Canada – with unmatched speed, flexibility, and support

NEW YORK, April 22, 2025 /PRNewswire-PRWeb/ — Salsa, a leading embedded payroll infrastructure provider, today announced a $20 million Series A funding round led by Altos Ventures, with participation from Greycroft, SemperVirens, Definition, and Better Tomorrow Ventures (BTV). This brings Salsa’s total funding to $30 million, enabling the company to further expand its ability to quickly and simply embed payroll functionality directly into software platforms.

“We built Salsa to keep the operational burden off our partners’ shoulders, so they can focus on what they do best. This funding lets us double down on automation, flexibility and deep support in industries where payroll is hardest to get right.”

This new fundraising follows a period of tremendous growth. Salsa grew more than 10X in 2024, doubled again in the early months of 2025, and now powers payroll products in all 50 U.S. states and Canada. Platforms use Salsa to launch embedded payroll in weeks – not quarters – and scale across complex, real world workforces.

The easiest way to embed and scale payroll

Salsa’s infrastructure enables software companies to build, launch, and operate fully integrated payroll products in a matter of weeks. The platform handles the complexity—from worker onboarding to tax filings—so partners can offer modern payroll without needing deep in-house expertise or large operational teams.

“Salsa has always been the fastest way to launch a payroll product—now we’re the easiest way to scale,” said John Kramer, co-founder and CEO of Salsa. “We built Salsa to keep the operational burden off our partners’ shoulders, so they can focus on what they do best. This funding lets us double down on automation, flexibility and deep support in industries where payroll is hardest to get right.”

Winning competitive deals in complex industries

Salsa has become a leading infrastructure choice for software platforms in sectors where payroll is especially complex. Frontline healthcare workers are a prime example of a workforce where complexity is the rule, not an exception. Platforms like Jane, Maple, and one of the largest healthcare platforms in the country are partnering with Salsa to simplify shift and overtime rules, multiple work locations and compliance to bring modern payroll to millions of practitioners across the healthcare industry.

“We evaluated several embedded payroll providers, but Salsa stood out for their ability to support the unique complexity of our business. From day one, their team was responsive, flexible, and willing to adapt to our needs—which is critical when you’re serving over 190,000 practitioners. They didn’t just provide infrastructure; they became a true partner in helping us bring a better solution to our helpers.”

–Laura Little, VP of Product Partnerships, Jane

In the beauty and wellness industry, known for very complex shift, hourly, commission, and tipping rules, leading platforms like Daysmart, Mangomint, and GlossGenius have used Salsa to launch the first products to remove industry complexity from payroll, adding hundreds of hours back to their busy business owners.

Salsa’s ease and speed of deployment have attracted fast-growing platforms across many industries. Leading independent business CRM, HoneyBook, launched its first customer just 17 days after integration began—underscoring Salsa’s reputation for getting partners live quickly without excessive product or engineering resources.

“Salsa stood out from competitors in how deeply they partnered with us. Their team was in our office, solving problems side-by-side with ours. That hands-on approach was key to launching quickly and building something that truly fits our members’ needs.”

-Oz Alon, CEO, HoneyBook

Backing from world-class investors

Salsa’s vision and traction have attracted leading investors who recognize payroll as the next critical layer of embedded fintech. Altos Ventures led the round, with participation from all prior investors, including Greycroft, Better Tomorrow Ventures, Definition, and SemperVirens.

“Payroll is one of the clear next frontiers in embedded fintech, and Salsa is redefining the landscape,” said Tae Yoon, Partner at Altos Ventures. “John, Juan, and the Salsa team have built a standout payroll infrastructure that is robust, fast, and flexible. We are thrilled to partner with Salsa as it becomes the foundational layer for payroll across entire industries.”

About Salsa

Salsa is the easiest way for software platforms to launch and scale embedded payroll. Built by industry veterans with decades of experience in payroll and SaaS, Salsa provides the infrastructure behind modern payroll products tailored to vertical and complex business needs. With Salsa, platforms can launch a revenue-generating, fully integrated payroll product in weeks, not years—without the heavy operational burden. Salsa is trusted by leading platforms across healthcare, personal services, time and attendance, and small business management. Today, Salsa powers payroll products across all 50 U.S. states and Canada. Learn more at www.salsa.dev.

Media Contact

Amber Moore, Moore Communications, 1 5039439381, amber@moorecom2.com

View original content to download multimedia:https://www.prweb.com/releases/salsa-lands-20m-series-a-to-make-embedded-payroll-seamless-for-software-providers-302433064.html

SOURCE Salsa

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

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52 minutes ago

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July 23, 2026

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

Published

52 minutes ago

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July 23, 2026

By

NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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Fathom Applauds Introduction of the FRONTIER Act, the First Federal Blueprint for Independent AI Verification

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52 minutes ago

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July 23, 2026

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Reps. Lori Trahan (D-MA-03) and Jay Obernolte (R-CA-23) introduce a bill to build a competitive marketplace of independent verifiers for frontier AI models.

WASHINGTON, July 23, 2026 /PRNewswire/ — Fathom welcomes the introduction of the FRONTIER Act, the most complete federal framework yet for independent, third-party verification of frontier AI. The legislation is built to earn public trust as AI technology continues to accelerate. As frontier systems begin to take autonomous action in the world, the gap between what these models can do and our ability to keep them in check is widening. FRONTIER is the starting point to close that gap.

“AI governance keeps running into the same wall. The technology is hard to measure and it moves faster than any law can keep up with,” said Andrew Freedman, Co-Founder and CEO of Fathom. “Trying to write the perfect rules and freezing them in place won’t work. What will work is a competitive market of independent verifiers who are accountable for real-world outcomes and who the government can actually count on. The FRONTIER Act shows we can move fast and still get this right.”

The bill gets the fundamentals correct. It sets one public standard – the adequate mitigation of catastrophic risk – and holds both the AI companies and their independent verifiers accountable to it. FRONTIER does not freeze a single testing method into statute. Instead, it licenses competing verification organizations, allows them to sharpen their methods, and gives the government the power to revoke a license when a verifier’s work does not hold up in the field. That is how you build a system that keeps pace with the science instead of falling behind it.

Fathom thanks Reps. Trahan and Obernolte for their leadership, and for their courage in releasing a discussion draft, inviting scrutiny, and incorporating substantive improvements from across the field. One priority improvement as the bill advances: giving the government a fuller range of tools to act upstream – for pushing companies to close identified gaps in risk mitigation early, rather than only once a catastrophe is imminent. We are committed to working with these sponsors, committees of jurisdiction, and Congressional leadership to continue refining the bill in the weeks and months ahead.

About Fathom
Fathom is an independent nonprofit whose mission is to build a governance architecture that helps society navigate the transition to a world with AI by fostering trust, safety, and innovation. Fathom has developed and championed the independent verification model for AI and works with policymakers across the country to put it into practice. Learn more at http://fathom.org.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fathom-applauds-introduction-of-the-frontier-act-the-first-federal-blueprint-for-independent-ai-verification-302833546.html

SOURCE Fathom AI Inc.

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