CoAd

What CoAd does

CoAd (legal parent: CoAdvantage Corporation) is a U.S.-based private PEO and HR technology company headquartered at 101 Riverfront Blvd., Suite 300, Bradenton, Florida. The company was formed in 2025 by unifying CoAdvantage and PrimePay (rebranded as CoAd Pay) under a single brand, with PrimePay continuing as a wholly-owned LLC providing payment services. CoAd serves over 17,000 small businesses and processes more than $15B in annual payroll, offering full-service PEO (co-employment, named HR advisor, benefits administration, risk and compliance management), standalone payroll processing, and add-on HR modules (compliance, employee benefits, benefits administration, risk management, time and attendance, talent acquisition).

The platform backbone is CoAdQuantum — a cloud-based HCM system unifying onboarding (with I-9 verification), payroll (direct deposit, multi-state tax filings), benefits enrollment via CoAdEnroll, HR lifecycle management via CoAd360, time tracking, and employee self-service accessible via web and mobile (iOS/Android). A second sub-product, ProfitKeeper by CoAd, provides franchise analytics aggregating financial, point-of-sale, and operational data for franchisors and franchisees.

Commercially, CoAd uses a four-tier subscription model: DIY ($55/mo + $5 per employee), Expert Assist ($85/mo + $6 per employee), Custom (tailored, dedicated account manager), and PEO Full Service (named advisor, co-employment, consultative onboarding). Distribution is multi-channel: self-serve website signup for small plans, direct sales for mid-market/enterprise with named account managers, and five partner programs (CPA, Broker, Bank, Franchise, Private Equity) generating referral revenue share, supplemented by franchisor-level exclusive preferred-provider deals such as the 2024 Icebox Cryotherapy arrangement. CoAd Pay operates as a federally registered MSB with FinCEN and is licensed as a money transmitter in 30+ U.S. states (NMLS ID 1952666).

Name

CoAd

Legal name

CoAdvantage Corporation

Website

https://coad.com

Company type

Private

Operating status

Operating

Short description

CoAd is a US-based private PEO and HR technology company serving 17,000+ small businesses with payroll, benefits administration, compliance, and workforce management delivered through its CoAdQuantum platform and CoAd Pay and ProfitKeeper sub-brands.

Ownership category

akta.pro rank

Product category

Professional Employer Organization (PEO) Services

NAICS

Professional Employer Organizations (561330), Professional Employer Organizations (56133), Payroll Services (541214)

akta.pro primary industry

Professional Employer Organization (PEO) / Co-Employment Services (BPACAHAB)

akta.pro secondary industries

Onboarding, Offboarding & Employee Lifecycle Administration (BPACAHAL), Contractor / Freelancer Payments (FSAMAKAC), Association & PEO Group Health Plans (AHP/PEO-Sponsored) (FSAIAFAH)

Keywords

• Professional employer organization
• Payroll processing services
• HR administration software
• Benefits administration
• Workforce management platform

Headquarters

HQ city

Bradenton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. PEO Services: Full-service Professional Employer Organization offering co-employer relationship with named HR advisor, benefits administration, full payroll management, and risk & compliance management. Revenue generated through per-employee pricing on custom packages.
2. Payroll Processing: Direct payroll processing with direct deposit, auto tax filings, and deductions. Available as standalone or bundled with PEO services. Revenue from base subscription plus per-employee monthly fees.
3. HR Software & Add-Ons: Additional modules including HR Compliance, Employee Benefits, Benefits Administration, Risk Management, Time & Attendance, and Talent Acquisition available as add-ons to base packages.
4. ProfitKeeper Franchise Analytics: Franchise-specific analytics platform for franchise owners and franchisors. Revenue from subscription or per-franchisee licensing model.
5. Partner Referral Fees: Revenue sharing arrangements with CPA, Broker, Bank, Franchise, and Private Equity partners who refer clients to CoAd services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

CoAd provides Professional Employer Organization (PEO) services and payroll processing for small businesses, combining payroll, HR administration, benefits enrollment, risk and compliance management, and time and attendance through the CoAdQuantum unified platform. The company was formed by uniting CoAdvantage and PrimePay (rebranded CoAd Pay) to deliver both full-service PEO co-employment and standalone payroll solutions. Additional offerings include franchise analytics via ProfitKeeper and partner referral programs for CPAs, brokers, banks, franchises, and private equity firms.

Product overview

CoAd is a PEO (Professional Employer Organization) and HR technology platform offering a unified ecosystem of workforce management solutions. The core offering consists of PEO services (combining payroll, HR administration, benefits, and compliance), Payroll processing, and HCM Software, supported by a centralized technology platform called CoAdQuantum. Additional add-on modules include HR Compliance, Employee Benefits, Benefits Administration, Risk Management, Time & Attendance, and Talent Acquisition. The company operates two primary sub-brands: CoAd Pay (formerly PrimePay) for payroll/payment services, and ProfitKeeper for franchise analytics. The platform architecture integrates multiple components including CoAdEnroll for benefits enrollment and CoAd360 for comprehensive HR management.

Differentiator

Problem solved

Functional benefit

Brands

• CoAd Quantum: The company's HR management platform used by clients and employees for payroll, onboarding, time tracking, benefits enrollment, and HR management.
• ProfitKeeper

Products and services

• Professional Employer Organization (PEO) Services
• Payroll Processing
• HCM (Human Capital Management) Software
• CoAd Pay
• CoAdQuantum Platform
• ProfitKeeper by CoAd

Quantifiable outcome

• Saves 400 hours per month through automation (Naples Princess case study)
• +3 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Icebox CryotherapycoreStrategic or Co-development Partner · 1 January 2024Multi-year partnership where ProfitKeeper by CoAd is the exclusive preferred payroll provider for Icebox franchisees. CoAd Pay franchisees can run payroll in under 10 minutes with dedicated support.
• ProfitKeepercoreTechnology or IntegrationProfitKeeper by CoAd provides franchise analytics aggregating financial, point-of-sale, and operational data. CoAd has made ProfitKeeper the exclusive preferred payroll provider for franchise partners like Icebox Cryotherapy, integrating analytics with payroll processing.
• CPA FirmscoreChannel Partner/ Reseller/ DistributorCPA partner program enables accounting firms to offer payroll, HR, benefits, and compliance solutions to their clients. Partners receive revenue sharing, priority implementation, and greater visibility through CoAd's technology.
• Insurance BrokerscoreChannel Partner/ Reseller/ DistributorBroker partner program enables insurance brokers to deliver end-to-end HR solutions with flexible engagement models including PEO with customizable carve-outs. High client retention rate for broker-referred clients. Offers high commission payments on admin fees.
• BanksminorChannel Partner/ Reseller/ DistributorBank partner program allowing financial institutions to offer payroll and HR solutions to business clients.
• FranchisescoreChannel Partner/ Reseller/ DistributorFranchise partner program offering franchise analytics through ProfitKeeper and payroll solutions through CoAd Pay. Helps franchisors provide consistent payroll across franchise units with visibility and benchmarking.
• Private Equity FirmsminorChannel Partner/ Reseller/ DistributorPrivate equity partner program enabling PE firms to offer HR and payroll solutions to portfolio companies.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• TriNet: TriNet is a PEO specializing in serving small and mid-size businesses with co-employment, payroll, benefits, and HR services. Its full-service PEO model, partner channels, and SMB focus are closely comparable to CoAd's PEO business.
• Paycor: Paycor provides cloud-based HCM, payroll, and PEO services to SMBs and mid-market companies. Its product suite and customer segmentation directly overlap with CoAd's HR compliance, payroll, and benefits offerings.
• Paychex: Paychex is a leading payroll, HR, and PEO provider serving SMBs and mid-market companies. It directly competes with CoAd in payroll processing and PEO services with similar per-employee pricing models and a multi-tier product structure.
• Paylocity: Paylocity provides cloud-based payroll, HR, and workforce management software with optional PEO services. It competes with CoAd for SMB and mid-market customers seeking modern, integrated HCM platforms with payroll and benefits administration.
• Insperity: Insperity is a leading PEO providing workforce management solutions including payroll, benefits, HR, and risk management to SMBs. It is one of the largest pure-play PEOs and competes directly with CoAd across the full PEO service stack.
• Justworks: Justworks is a technology-forward PEO serving SMBs with bundled payroll, HR, benefits, and compliance on a unified platform. It directly competes with CoAd's PEO offering for small business customers seeking modern, software-led PEO experiences.

Emerging players

• Rippling: Rippling is a fast-growing workforce management platform that unifies HR, IT, payroll, and benefits. It competes with CoAd for digitally native SMBs and overlaps in payroll processing and benefits administration, though it does not offer traditional co-employment PEO.
• Gusto: Gusto is a payroll, benefits, and HR platform targeting small businesses and startups. It competes with CoAd's DIY and Pro tiers and several Gusto customers may upgrade to PEO services, putting it in partial overlap with CoAd's full-service offering.

Broad incumbents

• ADP (Automatic Data Processing): ADP is the largest payroll and HR services provider globally with RUN, Workforce Now, and Vantage PEO offerings serving the same SMB and mid-market segments as CoAd. It competes across the full spectrum from DIY payroll to full-service PEO.
• Workday: Workday is a broad enterprise HCM and financial management platform that increasingly courts mid-market customers. While traditionally enterprise-focused, Workday's push down-market and partner-delivered PEO-style bundles create adjacent competition to CoAd's mid-market tier.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• TikToktiktok.com/@coadhr

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CoAd