OverviewSuggest Edit

Ultimate Software is a company providing HR software and payroll solutions. It offers UltiPro, a SaaS platform that delivers human resources, human capital management, payroll, benefits administration, recruiting, onboarding, as well as performance, compensation, succession, employee file management, and other capabilities. The platform is based on natural language processing and machine learning predicting and prescribing personalized actions.
HQWeston, US
Employee Ratings4.5
Culture scoreA+

Latest Updates

Employees (est.) (Dec 2018)5,113(+22%)
Job Openings24
Revenue (FY, 2018)$1.1 B(+22%)
Share Price (May 2019)$331.4

Key People/Management at Ultimate Software

Patrick Dupuis

Patrick Dupuis

Chief Financial Officer
Joanne Degnan

Joanne Degnan

Chief Services Officer
John Machado

John Machado

Chief Technology Officer
Greg Swick

Greg Swick

Chief Sales Officer, Enterprise, Chief Revenue Officer
Chris Phenicie

Chris Phenicie

Chief Sales Officer, Mid-Market
Jonathan Benhamou

Jonathan Benhamou

Chief Sales Officer, International
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Ultimate Software Office Locations

Ultimate Software has offices in Weston, Toronto, Singapore and London
Weston, US (HQ)
2000 Ultimate Way
Toronto, CA
144 Bloor St W #400
Singapore, SG
One George Street, #20-04
London, GB
Rex House, 4th Floor, St. James's
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Ultimate Software Financials and Metrics

Summary Metrics

Founding Date


Ultimate Software total Funding

$19 m

Ultimate Software latest funding size

$3.40 m

Time since last funding

7 years ago

Ultimate Software investors

Ultimate Software's latest funding round in November 2013 was reported to be $3.4 m. In total, Ultimate Software has raised $19 m
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Ultimate Software Revenue

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Ultimate Software's revenue was reported to be $1.14 b in FY, 2018 which is a 21.2% increase from the previous period.

Revenue (Q1, 2019)


Gross profit (Q1, 2019)


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Net income (Q1, 2019)


Cash (31-Mar-2019)

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Gross profit

USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019



Cost of goods sold


Gross profit


Gross profit Margin, %

USDFY, 2016FY, 2017FY, 2018



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Current Assets

USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019



Accounts Receivable


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Current Assets

USDFY, 2016FY, 2017FY, 2018

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Cash From Operating Activities

USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income


Depreciation and Amortization


Accounts Payable


Cash From Operating Activities

USDY, 2019

Financial Leverage

3.3 x
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Ultimate Software Operating Metrics

Ultimate Software's Backlog was reported to be $522.1m in FY, 2018. Ultimate Software's Customers was reported to be 5.6 k in Q1, 2019.
FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018FY, 2018Q1, 2019

People Records

33 m33 m33 m35 m37 m37 m40 m40 m48 m48 m


14 12 12 12 14 14 14 14 14 14


$399.90 m$456.20 m$522.10 m


3.70 k3.70 k3.70 k4 k4.10 k4.10 k4.40 k4.50 k5.60 k5.60 k
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Ultimate Software Acquisitions / Subsidiaries

Company NameDateDeal Size
PeopleDocJuly 17, 2018$300 m
KanjoyaSeptember 30, 2016
VestricsMay 20, 2016
EmployTouchOctober 11, 2013
PeopleDoc Germany GmbH
PeopleDoc, Incorporated
PeopleDoc SAS
PeopleDoc UK Limited
The Ultimate Software Group of Asia
The Ultimate Software Group of Canada

Ultimate Software Revenue Breakdown

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Ultimate Software revenue breakdown by business segment: 12.6% from Services and 87.4% from Recurring

Human Capital Metrics

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Ultimate Software Online and Social Media Presence

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Ultimate Software Company Culture

  • Overall Culture



  • CEO Rating



  • Compensation



  • Diversity



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Ultimate Software News and Updates

How Ultimate Software became the best workplace in tech

Ultimate Software's "people first" approach has helped it win the top spot on the list of best workplaces in technology.

Ultimate Software Earns Brandon Hall Group Excellence in Technology Gold Award for UltiPro Launch

With an intuitive blend of product and service, UltiPro Launch offers a collaborative rollout experience to help new Ultimate customers go live on UltiPro with ease and efficiency. UltiPro Launch also includes a personalized project dashboard with detailed insights in one, central location, as well …

Ultimate Software Ranked #9 on Fortunes Best Workplaces for Diversity List for 2019

The ranking considers feedback from millions of employees surveyed at thousands of organizations across the United States, specifically analyzing the daily workplace experiences of women, underrepresented races/ethnicities, LGBTQ+ people, Baby Boomers and older generations, and people with disabilit…

HR Software Market Will Reach at Higher CAGR with Top key Players like Kronos ,Infor Global Solutions , McKesson ,Ultimate Software ,ADP ,Atoss

Wiseguyreports added new comprehensive Analysis Report “HR Software market 2019-2025” to its huge database. Posted via Industry Today. Follow us on Twitter @IndustryToday

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against The Ultimate Software Group, Inc. (ULTI)

NEW YORK, April 3, 2019 /PRNewswire/ -- Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, Case No. 1:19-cv-00505-CFC, on behalf of shareholders of The Ultimate Software Group, Inc. ("Ultimate ...

Lifshitz & Miller LLP Announces Investigation of Civitas Solutions, Inc., Ellie Mae, Inc., HopFed Bancorp Inc., MedEquities Realty Trust, Inc., TCF Financial Corporation, The Ultimate Software Group, Inc., UQM Technologies, Inc., and Versum Materials, Inc.

NEW YORK, Feb. 14, 2019 /PRNewswire/ -- Civitas Solutions, Inc. (CIVI) Lifshitz & Miller announces investigation into possible breaches of fiduciary duties in connection with the proposed sale of Civitas to Centerbridge Partners L.P. for $17.75 per share. If you are a Civitas investor,...
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Ultimate Software Blogs

Celebrating National Volunteer Week With a Relentless Heart

National Service Week is here, and there are plenty of ways to make a difference while maintaining social distance. Here's how we are making an impact, and how you can find virtual volunteer opportunities that speak to you. The post Celebrating National Volunteer Week With a Relentless Heart appeare…

A Culture of Connectedness and Belonging: Built from the Bottom and the Top

Does your organization foster a culture of connectedness and belonging? Do you know what the biggest obstacles to creating this culture are, and who is primarily responsible for maintaining great cultures? Learn more. The post A Culture of Connectedness and Belonging: Built from the Bottom and the T…

The Virtual Job Interview: Tips for Candidates, Recruiters

As remote work and social distancing become commonplace, so too comes the rise of the virtual job interview. Whether you’re looking for a new job or looking to bring on new hires, here are a few points to keep in mind for the virtual job interview, as some traditions change—and some remain the same.…

Accessibility Considerations For A Remote Workforce

At a time when most global employees are working from home, accessibility and inclusion are more important than ever. Everyone should have the opportunity to do their best work without facing additional barriers. Here are some tips to consider. The post Accessibility Considerations For A Remote Wor…

How Managers Can Strengthen Team Connections During Times of Change

During times of uncertainty, managers have the ability to proactively strengthen team connections. Here are four tips to help keep your people engaged. The post How Managers Can Strengthen Team Connections During Times of Change appeared first on Ultimate Software Blog.

Adjusting to Working from Home in the Era of Social Distancing

Remote work, and the challenges that may come with it, will look different for everyone—but there are two important things you must keep in mind. Learn more. The post Adjusting to Working from Home in the Era of Social Distancing appeared first on Ultimate Software Blog.
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Ultimate Software Frequently Asked Questions

  • When was Ultimate Software founded?

    Ultimate Software was founded in 1990.

  • Who are Ultimate Software key executives?

    Ultimate Software's key executives are Patrick Dupuis, Joanne Degnan and John Machado.

  • How many employees does Ultimate Software have?

    Ultimate Software has 5,113 employees.

  • What is Ultimate Software revenue?

    Latest Ultimate Software annual revenue is $1.1 b.

  • What is Ultimate Software revenue per employee?

    Latest Ultimate Software revenue per employee is $223.1 k.

  • Who are Ultimate Software competitors?

    Competitors of Ultimate Software include TriNet, Kronos and Ceridian.

  • Where is Ultimate Software headquarters?

    Ultimate Software headquarters is located at 2000 Ultimate Way, Weston.

  • Where are Ultimate Software offices?

    Ultimate Software has offices in Weston, Toronto, Singapore and London.

  • How many offices does Ultimate Software have?

    Ultimate Software has 4 offices.