ZenPayroll Raises $20M in Series A Financing
ZenPayroll, Inc., a San Francisco, CA-based cloud payroll provider, raised $20m in Series A round of financing.
Backers included General Catalyst Partners and Kleiner Perkins Caufield & Byers (KPCB). In conjunction with the financing, Hemant Taneja from General Catalyst will join ZenPayroll’s Board of Directors.
The company, which had previously raised a $6.1m round in April 2012 (read here), intends to use the funds to accelerate its growth, expand coverage to new geographies and grow its team.
Launched in December 2012 by Joshua Reeves, CEO, ZenPayroll provides a cloud-based service for customers to run payroll and administer benefits from any connected device. Features for employers include “autopilot” payroll and spot bonuses, as well as employee-facing enhancements like self-onboarding, visually informative pay stubs and ZenPayroll Giving, which enables people to donate to nonprofit organizations directly from their paychecks.
The company serves small businesses of all kinds, including bakeries, law firms, flower shops, hotels, dentist offices, restaurants, etc.