sina science and technology news Beijing time on May 7th afternoon news, human resources startups Zenefits on Wednesday announced that it has received $500 million investment in the C round of financing. This round of financing by the fidelity and TPG led to Zenefits, valued at $4 billion 500 million.
after the completion of this round of financing, Zenefits valuation also broke through the $1 billion mark, and became the world’s top 20 venture capital backed by technology start-ups.
this is Zenefits in the past three and a half years in the first round of financing. Last January, the company completed a $15 million A round of financing, and in June last year completed a $66 million B round of financing. Zenefits valuation in the B round of financing more than 500 million u.s..
Zenefits for small businesses to provide cloud based software as a service (SaaS) human resources platform. The company is trying to provide a one-stop solution to meet the needs of corporate human resources compliance, recruitment, compensation management, health insurance and employee benefits. This software is freely available to businesses, while Zenefits gets revenue through a service intermediary. For example, when the Health Insurance Company to obtain new business through Zenefits, the company will extract the commission.
after the completion of the latest round of financing, Zenefits co-founder and CEO Parke · (Conrad), (Parker) will become a billionaire. He is still the largest individual shareholder of Zenefits, but did not disclose the specific stake. Conrad is 34 years old, and Zenefits has about 1000 employees.