ZenPayroll has received $60 million in funding from Google Capital and additional investors, the company announced on Monday. ZenPayroll is a provider of web-based payroll and business management solutions.
In addition to Google Capital, the latest round of funding for ZenPayroll included Emergence Capital Partners, Ribbit Capital, and others, as well as existing investors including General Catalyst, Kleiner Perkins Caufield & Byers, and Google Ventures. This round brings ZenPayroll’s total funding to date to $86.1 million.
“ZenPayroll has changed payroll from an impersonal transaction into a meaningful connection between employers and employees, and we’re delighted to join in their mission to free people to do their best work,” said Laela Sturdy, partner at Google Capital. “They’re growing at an incredible rate and we’re excited to see how they’ll continue to help small businesses around the country.”
ZenPayroll launched in 2012 with support for companies in California. Having grown by over 10x since their Series A, ZenPayroll is currently processing billions of dollars in annual payroll for more than 10,000 small businesses across the country. Today the company supports businesses in 47 states and the District of Columbia, representing over 98% of the U.S population. By the end of April, ZenPayroll will support businesses nationwide.
“We are proud to welcome Google Capital to the ZenPayroll community. Not only does Google exemplify the power of technology to improve people’s lives, they also share our core belief that people are the most important part of every business,” said Joshua Reeves, CEO and co-founder of ZenPayroll. “We are building a future where everyone can reach their fullest potential at work. That mission is part of everything we do, from designing the product to serving our customers to growing our team. We are excited to benefit from the talent, passion and strategic expertise of Google’s technology and product leaders.”
ZenPayroll, which currently employs approximately 84 people in its headquarters in San Francisco, is hiring. For more information, visit: zenpayroll.com/careers.
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
Tags: Accounting, Technology
