Draft:Patriot (software)

Patriot Software is an American company that developed and administers a payroll software product for businesses in the United States.

History
Founded in 2002 by current CEO Mike Kappel, the company offers basic and full-service packages which also include the handling of payroll taxes and 1099s.

From 2017 to 2019, Patriot Software raised a total of over $15 million from a friends and family fundraising round. The Regulation D Stock Offerings were permanently closed with the  SEC in January 2019. They had offered up to $20 million in common stock during those pre-seeding rounds. The company sold common shares but did not go public.

In July 2019, SageLink Capital acquired Patriot’s recruiting software subsidiary, Top Echelon Software. In 2021, the company secured an undisclosed amount in Series-A funding, led by RZC Investments, an investment arm for the Walton family and cofounded by Tom Walton and Steuart Walton in Bentonville, Arkansas.

In March 2023, the American Payroll Association reported that Patriot released a letter outlining the steps it was taking to “regain normal operations" after being impacted by the collapse of Silicon Valley Bank (SVB).

As of 2024, the company served over 56,000 small businesses.

Recognition

 *  Money ranked Patriot as the “Best Affordable Option" on their 6 Best Payroll Software Services for 2023 listing.


 * U.S. News & World Report ranked the company #3 on their Best Payroll Software of 2023 list.


 * PC Magazine included them on their Best Online Payroll Services for 2024 listing.


 * U.S. News & World Report ranked them #3 in their Best Payroll Software of 2024 list.


 * USA Today included the software among their Best Payroll Software of 2024 listing.


 * CNN included Patriot on their Best Payroll Software in 2024 list.