Zenefits provides cloud-based HR, payroll, and benefits software designed for small and mid-size employers.
The platform streamlines onboarding, benefits enrollment, payroll processing, compliance, time tracking, and scheduling. Zenefits also integrates with brokers, insurers, and third-party HR tools, helping companies automate administrative tasks and centralize employee data across the entire HR lifecycle.
What Is Zenefits and What Does It Do?
Zenefits, founded in 2013 by Parker Conrad and Laks Srini, is a Tempe–based HRTech and finance & accounting technology company offering cloud HR, payroll, and benefits administration solutions.
Zenefits employs 242 people and the company delivers onboarding, benefits enrollment, payroll, time and schedule management, and compliance tools for employers, while integrating directly with brokers and insurers to simplify HR operations.
How Much Funding Has Zenefits Raised?
1. Series A
• Amount Raised: $17.1M
• Date: January 10, 2014
• Lead Investors: Andreessen Horowitz, Venrock (participation)
• Motivation: Early product development and initial market entry.
2. Series B
• Amount Raised: $66.5M
• Date: May 28, 2014
• Lead Investors: Andreessen Horowitz, SV Angel, IVP (participation)
• Motivation: Rapid expansion of sales, operations, and HR platform features.
3. Series C
• Amount Raised: $513M
• Date: May 06, 2015
• Lead Investors: Fidelity Investments, TPG, IVP, and others
• Motivation: Product growth, market expansion, enterprise-grade capabilities, and compliance tooling.
Total Funding Raised: $598 Million
Current Valuation: $2 Billion (as of July 03, 2016)
Latest Funding Date: May 06, 2015
Key Investors
1. Andreessen Horowitz
• Details: Top-tier venture capital firm backing transformative software and platform companies.
• Investment Focus Areas: Enterprise SaaS, infrastructure, consumer tech.
• Notable Investments: Airbnb, Stripe, Okta. .
2. Fidelity Investments
• Details: A major institutional investor active in late-stage technology financings.
• Investment Focus Areas: Growth-stage tech, fintech, enterprise software.
• Notable Investments: Anthropic, Plaid**.**
3. Venrock
• Details: Early-stage venture firm focused on technology and healthcare.
• Investment Focus Areas: SaaS, enterprise tech, consumer apps.
• Notable Investments: Apple, DoubleClick, Illumina.
Where Is Zenefits’ Headquarters?
Zenefits is headquartered in Tempe, United States, offering strong connectivity to HR, payroll, and benefits markets, as well as strategic access to insurance and broker partners.
What’s Next for Zenefits?
Zenefits is expected to enhance compliance automation, expand integrations with brokers and insurers, and further strengthen payroll and benefits workflows for mid-market employers. The company will likely introduce AI-assisted HR tools that reduce administrative overhead and improve the employee experience.
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