Joins The Blasting News! Get A Well-Paying Freelance Writing Job!

$3 guarantee for each article published on our site + a variable compensation, up to $500 per article!

Blasting News is a fully independent magazine based on the principle of social journalism and powered by the voices of thousands of people called Blasters.

Being part of the largest social news magazine, the 142nd most read site in the world, according to Alexa Rank, getting your news out to over 100 million active monthly users. Blasting News has just reached this size 44 months after its launch (growing faster than Facebook, which took 54 months to do the same). Registration is free!

Erwin Castro (The Techchaser) Invited You To Sign Up And Write To Get This Great Opportunity!

Blasting News

Thursday, May 7, 2015

Zenefits Raises $500 Million, And Now A $4.5 Billion Company

Zenefits, a fast-growing software-as-a-service startup, announced on Tuesday that it had raised $500 million in a round led by Fidelity Management and TPG at a $4.5 billion valuation. 

Zenefits plans to use the fresh capital to hire even more employees to support its growth. CEO Parker Conrad said in a statement that: “If we want to hit equally eye-popping numbers in 2016 and 2017, we really need this much capital to do it.”

The Silicon Valley, Calif.-based startup, which allows small and medium-sized businesses to manage human resources services in a much simpler way, has been identified as one of the fastest growing Software-as-a-service companies in tech history. The company is growing fast. It has more than 10,000 small and medium-sized businesses using its service. To continue its hyper growth, the company must spend aggressively on sales and technical support to bring even more customers on board.

Zenefits offers human relations management service to small and medium sized businesses. Unlike most software companies (which charge customers a subscription fee for using their software), Zenefits gives its human resource software for free. It generate its revenue by acting as an middle man or brokerage, taking commission when it connects companies with third party vendors like heath insurance provider or payroll service provider.

Fidelity Management and private equity firm TPG led the funding round, with participation from Founders Fund, Khosla Ventures, Insight Venture Partners, and Ahston Kutcher's investment firm. Existing investors Andreessen Horowitz, Institutional Venture Partners, and actor Jared Leto also participated in the funding round. 

Founded by Parker Conrad, Zenefits offers free software-as-a-service (SaaS) for human resources functions like payroll services, benefits and vacation tracking to companies with less than 1000 employees. The company was part of the Winter 2013 batch of startup accelerator Y Combinator. 

Image Credit: BreakOutList

No comments:

Introducing A Great Place To Find A Job

The marketplace where tech companies compete to hire you. Meet 5 to 15 top companies in one week with salary info upfront. You’re in demand. Shouldn’t companies you love come to you with offers upfront? We think so. That’s why Hired is changing the way you find your next job with a faster, more transparent job search process built specifically for Python Programmers, RoR Developers, Java Programmers, Software Engineers, Big Data Scientists, Data Scientists, DevOps, UI/UX Designers, Product Managers, and Web Developers.

Hired is the first two-sided marketplace created specifically for Engineers, Data Scientists, Designers and Product Managers who are overwhelmed with job opportunities.

We believe recruiting should be transparent, unbiased, and that the talent should be in control. Our one week “auctions” provide upfront offers from vetted and funded companies, dedicated talent advocates, and a $2,000 signing bonus.

Our mission is to make hiring, or getting hired, less painful. A Whole New Recruiting Model.


Learn More: GET HIRED!

VMware: Virtualizing the Entire Data Center

Virtualizing the Entire Data Center by: VMware, The World's Leader in Virtualization and Cloud Infrastructure

VMware vSphere Essentials delivers the industry-leading virtualization platform for small businesses at an affordable price. Small businesses can virtualize their physical servers and centrally manage these servers, reducing hardware costs and increasing operating efficiency with a low upfront investment.
Provides cost-effective server consolidation and management for small offices

Learn more about the VMware vSphere Essentials