1/ “What important truth do very few people agree with you on?” Peter Thiel’s famous question. At Check, our founding answer was that payroll today is fundamentally broken for a huge number of businesses.

Video gives me goosebumps. Also: if you’re a soon-to-be founder looking for the right idea you should 100% do this.

In the first 9 days of the year Check grew more than we did in all of January last year! 📈

$4.1 billion. That's how much payroll Check processed on behalf of our partners in 2024. For context, that's 3x more than our nearest competitor — Gusto Embedded — has processed in their entire almost four year history. And we're just getting started. https://t.co/x0RrvmDvvC

5/ Today, we’re excited to unveil a completely reimagined Check, with a new look and a renewed focus on the incredible stories of our 65 platform partners. Embedded payroll is the future. https://t.co/HVxovSy3VA

4/ Our partners are leading that movement, powering payroll for the businesses that keep our world running: Construction workers, plumbers, electricians, daycares, auto shops, farms, restaurants, healthcare providers, Main Street retailers, and so many more.

3/ When we launched @check_hq three years ago, that was a controversial stance. Since then it has become common wisdom in the space, with ADP, Gusto, and Paycor all launching competitive offerings. Embedded Payroll is now a movement that can't be ignored.

2/ Many misunderstand this because they work salaried jobs where getting paid is an afterthought. But for most Americans, pay depends on hours worked or specific tasks completed, collected from multiple software systems each pay cycle. This makes payroll far too complex.

Embedded payroll is the future 🔥

The only two non-AI opportunities Bessemer calls out for vSaaS companies in their State of the Cloud 2024 report released today are: 1. Payments (those guys at Stripe might be onto something) 2. Payroll!🚀🚀🚀

Source: https://t.co/V8zIL00PAB h/t @TheManMikeTan

3. Everyone knows fintech is big, but people are sleeping on employee management. I see this in Check's partners. The platforms who help manage their customers' teams are absolutely crushing it.

2. Only 9% of platforms have added payroll so far. That means there is still huge opportunity for you to serve your customers in a differentiated way, and stand out from your competitors. I can see first-hand this is quickly changing though. You don't want to be last!

1. Adoption of embedded payroll is growing faster than any other add-on financial offering. In 2 years payroll has grown from literally 0 to 10% adoption for platforms. That's insane, and shows just how much pain your customers are feeling today with the legacy payroll providers.

The Tidemark 2024 Vertical & SMB SaaS benchmarking report is required reading for founders building in this space. Here are my top 3 takeaways 🧵

I’ve been building companies from nothing with @ericstromberg and @vanlancker for more than a decade now. As an early stage founder you won’t find a better partner than Terrain. Congrats on the public unveiling guys!

Today marks half a decade of powering payroll for our partners! The platforms they've built are paying hundreds of thousands of employees across tens of thousands of businesses. We’re excited to continue growing together in the decades to come.

Big day for Check!

Christmas came early this year. @patio11 wrote about payroll! This is my new favorite guide to why payroll is so hard and broken. This is exactly the problem Check is trying to solve — we deal with the complexities of payroll so you don't have to. https://t.co/xPDGGJQTTC

Thanks to Judy Shaw and #NYSEFloorTalk for having @almostabc on the show! It was great to discuss how these new offerings are changing the embedded payroll landscape.