Intuit announced Wednesday that it has signed an agreement to acquire GoCo, a provider of modern human resources and benefits solutions for small and mid-market businesses. The acquisition is aimed at transforming Intuit’s payroll offerings into a more comprehensive Human Capital Management (HCM) solution.
Intuit, the company behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, says the integration of GoCo’s capabilities will enable businesses to manage their finances and the entire employee lifecycle in one place. Initially, GoCo’s features will be integrated into the Intuit Enterprise Suite and QuickBooks Payroll for Premium and Elite Payroll customers in the U.S.
“As businesses scale, they need to be able to find, onboard, and retain the right talent, offer and manage benefits, and stay compliant, while maintaining a single source of truth for all employee information,” said Olivier Bartholot, Vice President and Segment Leader of Workforce Solutions at Intuit. “GoCo brings world-class HR and benefits capabilities to our existing product portfolio. Together, we will deliver a comprehensive HCM solution to help small and mid-market businesses manage their teams, optimize productivity, and grow faster.”
GoCo, founded in 2015, provides services including hiring and onboarding, workforce and talent management, and benefits administration. The company’s AI tools are designed to complement Intuit’s existing data resources and AI-driven capabilities. According to the announcement, GoCo’s tools will support personalized insights and automation through integration with Intuit’s AI-powered platforms.
Intuit Enterprise Suite, which launched in 2024, is described as a configurable suite of integrated financial tools designed to support the scalability and productivity of growing mid-market businesses. QuickBooks Payroll, which currently processes payments for 18 million workers annually in the U.S., will also incorporate GoCo’s functionalities.
“For more than a decade, GoCo has been driven by its mission to help mid-market businesses spend less time on HR tasks so they can focus on growing happier, more productive teams,” said Nir Leibovich, Co-Founder & CEO of GoCo. “We’re excited to join Intuit to support its vision to become the only team-management platform a business needs to grow and manage its team.”
The acquisition supports Intuit’s strategy to expand its service offerings for mid-market businesses and create a unified platform that combines financial and workforce management capabilities.
The deal is expected to close in the fourth quarter of fiscal year 2025. Financial terms of the agreement were not disclosed.