Online payroll provider Paylocity files for a $115 million IPO
Paylocity, which provides cloud-based payroll and human capital management software solutions, filed on Thursday with the SEC to raise up to $115 million in an initial public offering. The Arlington Heights, IL-based company, which was founded in 1997 and booked $91 million in sales for the 12 months ended December 31, 2013, plans to list on the NASDAQ under the symbol PCTY. Paylocity initially filed confidentially on December 6, 2013. Deutsche Bank, BofA Merrill Lynch and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.