It also comes just six months after the startup raised a $15.6 million Series A led by General Catalyst. The company declined to reveal at what valuation either round was raised, saying only that its current valuation is “a meaningful step up” from its Series A. While we don’t know from what base, the company did say it has seen “consecutive record-breaking months of growth” since its Series A. , the company makes money by charging customers a set monthly fee. That API will also allow employees to share pay and compensation data with third-party apps and services to validate their income to credit agencies, as well as other financial and HR organizations, the company said. Longer term, if Pento can become the infrastructure layer for HR and compensation via its soon-to-be-rolled-out open API, Lerner added, the company would become further embedded into its customers’ payroll and HR workflows. Pento says its SaaS offering fully automates the payroll process so that payroll managers and finance teams don’t have to rely on spreadsheets, PDFs, e-mails and manual checks. In addition to its SaaS offering, Pento provides infrastructure through its partnerships and integrations with existing accounting software, HR products and pension providers. Pento says that its main differentiator is that it is building a payroll-only product with an integrations-first approach, meaning that — as opposed to much of its competition — Pento partners and integrates with other tools/products (such as HR, expenses management and accounting) that customers use instead of building their own. While it plans to expand internationally in the future, Pento for now is focused on its home market of the U.K. and Europe, where it says that payroll outsourcing is a nearly $6 billion market that is expected to grow at an annual rate of 4.4%.