Zeal (formerly Puzzl), a San Francisco, CA-based API-first payroll infrastructure provider, raised $13m in Series A funding.
The round was led by Spark Capital, with participation from Commerce Ventures and notable individual investors including: Marqeta CEO and Founder Jason Gardner and CRO Omri Dahan, Robinhood Founder Vlad Tenev, UltimateSoftware EVP Mitch Dauerman and SVP Bob Manne, and Namely Founder Matt Straz. In conjunction with the funding, Zeal added Spark Capital’s partner Natalie Sandman to its Board of Directors. The round follows a $1.6m seed investment led by Long Journey Ventures, Box Group, and Scott & Cyan Banister.
The new capital will be used for growing the team and scaling the product.
Led by Kirti Shenoy, CEO and Co-Founder, and Pranab Krishnan, CTO & co-founder, Zeal has developed an embedded fintech ecosystem, empowering platforms to build individualized payroll products. The company helps platforms and large enterprises to build their own payroll products. Enterprises that pay a large volume of workers use Zeal to build a custom payroll product that can automate high volumes of payment processing and keep payment data on their own native system. It is live in all 50 states and American territories, and helps platforms process payroll for W2 employees and payments for 1099 contractors.
Founded in in 2019, the company was part of Y Combinator’s 2019 cohort.
FinSMEs
30/08/2021