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January 22, 2014 09:30 pm GMT
The thought of managing HR, benefits and payroll is enough to make most entrepreneurs grimace. However, time consuming and frustrating as it may be, it’s a part of the job description and something every startup and small business has to address sooner or later. Having dealt with the paperwork and administrative headaches at startups before, Parker Conrad and Laks Srini launched Zenefits last year to take the pain of HR management out of the hands of founders and move it to the cloud. Beginning with a service that sought to automate the process of setting up and managing group health coverage and payroll, Zenefits enabled small businesses to transfer administration online, for free, and removed the need to dip into hiring budgets to hire a dedicated HR person. However, the team quickly found that the opportunity extended beyond health coverage and payroll, as many of its early customers used Zenefits not just for its initial functionality, but as a full-on replacement for traditional HRIS or Human Resources Information Systems. As Zenefits looks to expand its coverage and help startups and larger businesses manage all HR-affiliated tasks, the company is taking on $15 million in Series A financing from Andreessen Horowitz, Maverick and Venrock to go after larger, enterprise customers and to begin tackling international markets. The round, which brings the startup’s total funding to $17.1 million, also brings the addition of some key strategic guidance in the form of Andreessen Horowitz General Partner Lars Dalgaard — the former CEO and founder of SuccessFactors — who joins the company’s board of directors. SuccessFactors remains one of the largest SaaS providers of HR services in the world and was acquired by SAP in 2011 for a hefty $3.4 billion. As such, there are few entrepreneurs out there with a better perspective on the market that Zenefits is beginning to tackle. Dalgaard joins the board at a time when Zenefits has begun to increase its focus on developing the kind of core HRIS features that are in such high demand at small and medium-sized businesses. Over the last six months, the company has added features like the ability to automate the hiring and firing of employees, while auto-generating the required documentation, add and remove staff from payroll and sending automatic alerts to employees and admins of these changes via email. In addition, managers can use Zenefits’ cloud-based HR management system to track paid
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/H1QGc-oOQow/
Zenefits Adds $15M From Andreessen Horowitz To Become The All-In-One Solution For Startup HR
The thought of managing HR, benefits and payroll is enough to make most entrepreneurs grimace. However, time consuming and frustrating as it may be, it’s a part of the job description and something every startup and small business has to address sooner or later. Having dealt with the paperwork and administrative headaches at startups before, Parker Conrad and Laks Srini launched Zenefits last year to take the pain of HR management out of the hands of founders and move it to the cloud. Beginning with a service that sought to automate the process of setting up and managing group health coverage and payroll, Zenefits enabled small businesses to transfer administration online, for free, and removed the need to dip into hiring budgets to hire a dedicated HR person. However, the team quickly found that the opportunity extended beyond health coverage and payroll, as many of its early customers used Zenefits not just for its initial functionality, but as a full-on replacement for traditional HRIS or Human Resources Information Systems. As Zenefits looks to expand its coverage and help startups and larger businesses manage all HR-affiliated tasks, the company is taking on $15 million in Series A financing from Andreessen Horowitz, Maverick and Venrock to go after larger, enterprise customers and to begin tackling international markets. The round, which brings the startup’s total funding to $17.1 million, also brings the addition of some key strategic guidance in the form of Andreessen Horowitz General Partner Lars Dalgaard — the former CEO and founder of SuccessFactors — who joins the company’s board of directors. SuccessFactors remains one of the largest SaaS providers of HR services in the world and was acquired by SAP in 2011 for a hefty $3.4 billion. As such, there are few entrepreneurs out there with a better perspective on the market that Zenefits is beginning to tackle. Dalgaard joins the board at a time when Zenefits has begun to increase its focus on developing the kind of core HRIS features that are in such high demand at small and medium-sized businesses. Over the last six months, the company has added features like the ability to automate the hiring and firing of employees, while auto-generating the required documentation, add and remove staff from payroll and sending automatic alerts to employees and admins of these changes via email. In addition, managers can use Zenefits’ cloud-based HR management system to track paidOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/H1QGc-oOQow/
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