Is Justworks a public company & can you buy JW stock?

3 min read | January 05, 2022 03:27 AM EST | By Raza Naqvi

Is Justworks a public company?

Justworks remains a private company, looking to become a publicly-traded company. 2021 was a hot year for IPOs, and in 2022, it is expected that an IPO frenzy would continue.

Justworks will offer its Class A common stock on the Nasdaq Stock Market, and it has applied to trade under the stock symbol JW.

Is Justworks publicly traded? ©2022 Kalkine Media®

The underwriting for the IPO will be carried forward by BofA Securities, J.P. Morgan, and Goldman Sachs.

Retail investors cannot buy JW stock right now as it is not listed on the stock exchange. Once the company starts trading on Nasdaq, traders can buy Justworks' shares.

Also Read: Waymo IPO plans: Can you buy this EV stock?

Justworks opted for going public as it aims to use gross proceeds for general corporate purposes, working capital and fund growth.

Bottom line

Founded in 2012, Justworks has emerged as one of the leading companies providing software for HR services to small and medium-sized businesses.

Justworks raised US$ 143 million in funding since its inception, and Bains Capital backs it.

As the company has expansion plans, Justworks had acquired Boomr, a company providing attendance and time solutions operating on the cloud infrastructure.

For the three months ended August 31, 2021, Justworks' total revenue was US$ 291.2 million, up from US$ 206.8 million as of August 31, 2020.

Meanwhile, Justworks' cash and cash equivalents stood at US$ 109.9 million as of August 31, 2021.

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