Thursday, February 20, 2014

ZenPayroll attracts $20M to take on giants Intuit, ADP and Paychex

ZenPayroll writes:  People do their best work when they are passionate about what they do and feel recognized for their contributions. As individuals we love getting paid, yet today our work is acknowledged poorly by line items in a bank account, or confusing pay stubs that we rarely keep. As a business owner, you know that people are the foundation of your organization, but you’re so often buried in paperwork that there just isn’t time to stop and say thank you to your team.
Why isn’t paying employees an easier, more enjoyable process?
What could make doing work and getting paid truly rewarding?
How can we bring the “humanity” back to compensation?
Those are the questions my co-founders and I wanted to answer when we started ZenPayroll two years ago. We had been frustrated by overly complex, unnecessarily expensive payroll options when we started our previous companies, and all three of us happened to have family members who ran payroll as well. We wanted to end the decades-long struggle with tedious, manual processes and complex government compliance rules. We were confident that compensation could mean so much more to everyone involved, and we assembled a team of dedicated individuals that shared our desire to solve this critical business problem. Together, we set out to bring delightful, modern payroll to businesses everywhere.
In the past fourteen months since our public launch, we’ve processed hundreds of millions of dollars in payroll, and helped countless businesses, from flower shops to bike makers to auto repair shops and more.
We’re proud of the progress we’ve made, but we’re just getting started.
Today, we’re announcing a $20 million Series A funding that will help us build new features to give companies peace of mind, and bring a smile to their employees. We’re proud to welcome our new partners from General Catalyst and Kleiner Perkins to the ZenPayroll family.
Going forward, you’ll see us bolster the aspects of ZenPayroll that you love:
  • Simplifying your day: Today we take care of all tax calculations, filings and payments behind the scenes, eliminating paper, spreadsheets, or worries. We plan to push the envelope on payroll automation so you can focus on running and growing your business.
  • Helping you build a stronger team: In the past year, we made it easier for employees toonboard themselves, and employers to build a culture of appreciation. There are numerous ways to forge stronger bonds between people and their workplaces, and we will continue to invest in this area.
  • Empowering your employees: Whether it’s through visually informative “you got paid” emails, or enabling people to donate to their favorite nonprofits directly from their paychecks, we’re committed to helping employees better understand their finances and feel more appreciated than ever.
Payroll should be about people, not payments. Being compensated for your work isn’t the same as finding it rewarding, and we are on a mission to help bridge that gap.
All of us at ZenPayroll joined because we’re passionate about re-imagining compensation, and each of us wanted to be in an environment where we could do the best work of our lives. If that sounds like the perfect mix of purpose and ambition to you, come join us. We’re hiring! ☺
Some of the press coverage from the news today:
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