Paycor Completes $489 Million IPO

Technology & Services

Paycor IPO


Paycor, Inc. (“Paycor” or the “Company”) (NASDAQ: PYCR), a portfolio company of Apax Partners (“Apax”), recently completed an initial public offering of 21,275,000 shares of Class A common stock, including the full exercise of the over allotment option, at a price of $23.00 per share generating gross proceeds of approximately $489 million. The Company intends to use the net proceeds from the offering to paydown outstanding preferred equity and other general corporate purposes.

Baird served as a passive bookrunner on this offering.


Paycor is a leading Software-as-a-Service provider of human capital management solutions for small and medium-sized businesses. Paycor’s unified, cloud-native platform is built to empower business leaders by producing actionable, real-time insights to drive workforce optimization. The Company has a comprehensive suite of solutions enabling organizations to streamline human capital management (“HCM”) and payroll workflows and achieve regulatory compliance while serving as the single, secure system of record for all employee data. Paycor’s highly flexible, scalable, and extensible platform offers award-winning ease-of-use with an intuitive user experience and deep third-party integrations, all augmented by industry-specific domain expertise. Over 27,000 customers across all 50 states trust Paycor to help their leaders develop winning teams. Paycor is headquartered in Cincinnati, Ohio.

Apax is a leading global private equity advisory firm. For more than four decades, Apax has built specialist expertise across four industry sectors: Tech, Services, Healthcare, and eConsumer. To date, Apax Partners has raised and advised funds with aggregate commitments of more than $60 billion. Apax is headquartered in London, the United Kingdom.
Technology & Services

Paycor IPO

August 2021
Paycor, Inc.
Equity Capital Markets
Technology & Services
Human Capital Management
Target Geography
North America