Thera
Thera is a New York-based fintech providing unified US payroll, global contractor payments, and employer-of-record services for startups, small businesses, and agencies with international workforces.
- Company typePrivate
- Founded2021
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Thera does
Thera, legally Bloom Financial Corp., is a New York-based financial technology company providing a unified payroll and global payments platform targeted at startups, small businesses, and agencies with international workforces. The platform's core offering is US Payroll covering all 50 states, complemented by a Contractor Management product that processes payments in 150+ countries and 130+ currencies, and an Employer of Record (EOR) service that enables compliant full-time hiring without requiring the customer to set up a local entity. Adjacent finance-OS modules extend the platform into business banking via a Thera Cash account (powered by partner OMB Bank), accounts payable/receivable management (Thera Spend), invoicing, and accounting. The architecture is API-first and supports a white-label deployment model for partners, with native integrations into QuickBooks and a benefits stack (SimplyInsured, Thatch, Next Insurance, Human Interest, Accrue 401(k), SafetyWing). The company holds SOC 2 Type II compliance and aligns with GLBA, GDPR, and CCPA standards.
Thera employs a hybrid go-to-market combining sales-led demos for US Payroll and enterprise customers with self-serve subscription tiers for Contractor Management ($29/month) and EOR ($49/month); US Payroll pricing is custom-quoted. The company is led by co-founder and CEO Akhil Reddy, was founded per firmographic metadata in 2021, and is headquartered at 1460 Broadway, New York. Thera is backed by Y Combinator alongside 10x Founders, Bayhouse Capital, Eight Capital, Zillionize, and Amino Capital, having closed a seed round in 2024. Customer case studies demonstrate cost reductions of 30–50% versus incumbent providers (Deel, Gusto, Rippling) and onboarding cycles of 1–3 days, with named customers spanning Talent Platforms, BPO, HR Tech, Events, Media, E-commerce, and EdTech verticals.
The platform's product roadmap includes two near-term launches: Thera AI, an in-product copilot providing natural-language payroll queries, anomaly detection, and cost modeling, and Thera Rewards, a loyalty program awarding points per dollar of payroll processed. Both are positioned to deepen engagement and differentiation in a market dominated by larger incumbents.
Thera firmographics
Firmographics- Name
- Thera
- Legal name
- Bloom Financial Corp.
- Website
- https://getthera.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Thera is a New York-based fintech providing unified US payroll, global contractor payments, and employer-of-record services for startups, small businesses, and agencies with international workforces.
- Ownership category
- akta.pro rank
Thera industry classification
Industry- Product category
- Global Payroll & HR Software
- NAICS
- Payroll Services (541214), Computer Systems Design and Related Services (54151)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371), Finance Services (6199)
- akta.pro primary industry
- Payroll Software & Payroll-as-a-Service (SaaS) (BPACAIAB)
- akta.pro secondary industries
- International Payroll & Contractor Payments (FSAMAIAC), Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)
Keywords
Where Thera is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Thera business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- US Payroll: Full-service payroll in all 50 states including automated federal, state and local taxes, medical/dental/vision benefits, time off management, 401(k) integrations, and workers' comp. Revenue generated through subscription model with custom quotes tailored to business size.
- Contractor Management: Global contractor onboarding and payment services in 150+ countries. Includes compliant contract creation, invoice management, payment in 130+ currencies, W-8/W-9 collection, and automated 1099 filings. Priced at $29/month or $1299/year.
- Employer of Record (EOR): International employment services enabling hiring in 150+ countries without establishing legal entities. Includes employment contracts, ESOPs, benefits administration, leave management, employee payslips, immigration support, and IP protection. Priced at $49/month or $499/year.
- Thera Rewards: Points earned on payroll that can be redeemed for travel, cashback, gift cards, and platform fee waivers. While not yet launched (planned August 2026), this creates potential future revenue through increased customer retention and platform stickiness.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Contractor Management - Pay contractors in 150+ countries |
| Subscription | Monthly | Employer of Record - Hire employees in 150+ countries |
| Subscription | Annual | US Payroll - Full service payroll in all 50 states |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Thera product offering
Product offeringCore offering
Thera operates a unified financial operating system (finance OS) for companies with global teams. Its core offering combines US Payroll (all 50 states with automated tax filings and benefits), Contractor Management (paying contractors in 150+ countries across 130+ currencies), and Employer of Record services (compliant employment in 150+ countries without local entity setup). The platform extends into accounts payable/receivable, invoicing, business banking (Thera Cash via partner bank OMB Bank), an AI payroll copilot (Thera AI), and a payroll-based loyalty rewards program (Thera Rewards).
Product overview
Thera is a unified financial operating system (finance OS) combining payroll, global payments, and business banking into a single platform. The core offering consists of US Payroll, Contractor Management (supporting 150+ countries with 130+ currencies), and Employer of Record services. The platform extends through add-on modules including Thera AI (CFO-level insights), Thera Rewards (payroll-based loyalty program), Thera Cash (high-yield business banking), Thera Spend (AP/AR management), Invoicing, and Accounting services. The architecture also includes API access for enterprise automation and white-label capabilities for partners.
Differentiator
Problem solved
Functional benefit
Brands
- Thera Rewards: A loyalty rewards program that allows companies to earn points on payroll, redeemable for travel, cash back, gift cards, and platform fee waivers. Program launched in beta with planned full launch in August 2026.
- Thera AI
Products and services
- US Payroll
Quantifiable outcome
- 95% same-day payout rate for contractor payments
- +5 more outcomes
Companies that use Thera
Customer profileNamed customers7 records
Segments6 records
Ideal customer profiles4 records
Thera technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability6 records
Feature7 records
Thera partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- OMB BankcoreOMB Bank is Thera's banking partner providing FDIC-insured business banking services including checking and savings accounts. Deposits are held by OMB Bank and eligible for FDIC insurance coverage.
- SimplyInsuredcoreSimplyInsured provides small group health insurance plans integrated with Thera's payroll system. Employers with 2+ W-2 employees can select group plans through this partnership.
- ThatchcoreThatch powers ICHRA (Individual Coverage Health Reimbursement Arrangement) plans for Thera, enabling employees to choose their own health insurance plans with employer reimbursement.
- QuickBookscoreNative QuickBooks integration enables automatic payroll sync to accounting software, keeping financial records synchronized across platforms.
- Human InterestcoreHuman Interest provides 401(k) retirement plan integrations with Thera's payroll, enabling automatic payroll deductions and employer contributions.
Scale indicators18 records
Recent moves6 records
Expansion highlights6 records
Thera competitors and assessment
Company assessmentDirect peers
- Deel: Deel is the leading global payroll and EOR platform, offering contractor management and full-time employment across 150+ countries. It is Thera's most direct competitor — case studies on Thera's own site reference customer migrations from Deel.
- Rippling: Rippling provides unified HR, IT, and payroll software for SMB and mid-market customers. It overlaps directly with Thera's US Payroll plus benefits administration and competes for similar startup and growth-stage buyers.
- Gusto: Gusto is a dominant US payroll, benefits, and HR platform serving small businesses and startups. Thera's website highlights Gusto migrations (e.g., ZenDrop) and competes head-to-head on SMB US Payroll with benefits.
- Remote: Remote is a global EOR and contractor payments platform operating across 80+ countries. It is closely comparable to Thera's EOR and Contractor Management offerings for distributed-team customers.
- Papaya Global: Papaya Global provides a global workforce management platform covering payroll, EOR, and contractor management. It is a direct competitor in cross-border payroll with comparable geographic reach to Thera.
Broad incumbents
- Workday: Workday is a broad enterprise HR and payroll incumbent serving mid-market and large enterprises. It overlaps with Thera in payroll and benefits administration but targets a much larger, higher-end buyer profile.
- ADP: ADP is the largest incumbent payroll provider in the US, offering Run/Workforce Now/Comprehensive Services. While Thera targets startups and SMBs, ADP competes at the same buyer need — particularly as customers scale up from Thera.
- Paychex: Paychex is a major SMB payroll and HR services provider in the US. It is a broader incumbent competing for similar small-business and mid-market buyers as Thera, especially for US-only payroll.
Emerging players
- Mercury: Mercury is a business banking and spend platform focused on startups — overlapping with Thera Cash, Thera Spend, and the broader finance-OS positioning. Both companies target the same startup buyer and increasingly compete for fintech-wallet share.
- Pilot: Pilot is a bookkeeping, tax, and CFO services firm focused on startups and SMBs, with adjacent payroll and accounting integrations. It overlaps with Thera's Accounting add-on and competes for the same startup finance-stack buyer.
Market position
Strengths5 records
Weaknesses1 record
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Thera social profiles
Digital presenceThera compliance and trust
Trust signalCompliance5 records
Thera financial estimates
Financial estimateRevenue estimate
Valuation estimate
Thera leadership team
Management profileNumber of profiles
Profiles1 record
Thera funding detail
Funding detailFunding overview
Funding rounds1 record
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Thera M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Thera
What does Thera do?
Thera operates a unified financial operating system (finance OS) for companies with global teams. Its core offering combines US Payroll (all 50 states with automated tax filings and benefits), Contractor Management (paying contractors in 150+ countries across 130+ currencies), and Employer of Record services (compliant employment in 150+ countries without local entity setup). The platform extends into accounts payable/receivable, invoicing, business banking (Thera Cash via partner bank OMB Bank), an AI payroll copilot (Thera AI), and a payroll-based loyalty rewards program (Thera Rewards).
Is Thera a public or private company?
Thera is a private company. It is classified as venture growth investor backed and is currently operating.
When was Thera founded?
Thera was founded in 2021. It employs 1 to 10 people.
Where is Thera based?
Thera is headquartered in New York, United States, in the North America region.
How does Thera make money?
Four revenue lines are on record. US Payroll is the primary driver. The others are contractor Management, employer of Record (EOR) and thera Rewards.
Who are Thera's main competitors?
Direct peers on record are Deel, Rippling, Gusto, Remote and Papaya Global. Broad incumbents are Workday, ADP and Paychex. Emerging players are Mercury and Pilot.
Does Thera have an API?
Yes. Thera offers an API that allows customers to automate onboarding, payments, and compliance at scale. The API enables programmatic access to contractor management, payroll processing, and compliance workflows. Developer documentation is at www.getthera.com/api.
What industry is Thera in?
Thera's product category is Global Payroll & HR Software. Its primary akta.pro industry code is BPACAIAB, Payroll Software & Payroll-as-a-Service (SaaS), with a secondary code of FSAMAIAC, International Payroll & Contractor Payments. Its NAICS code is 541214 and its SIC code is 7370.