Zenefits Raises $66.5M in Series B Financing

Zenefits is continuing to spark interest from investors through its mission of freeing businesses from the administrative burdens of HR.

The cloud-based HR platform company this week announced that it has raised $66.5 million in Series B financing, totaling $84 million in total funding to date.

The company said it will use the new funds to prepare for future growth, build out its core HR technology, and scale its operations and support infrastructure.

The funding round was led by Andreessen Horowitz, with participation from IVP, SV Angel, Hydrazine Capital, former Twitter and Google executive Elad Gil, and Academy Award-winning actor and investor Jared Leto.

Zenefits CEO Parker Conrad said in a prepared statement that company’s goal is to free businesses from the “administrative burdens of HR.”

“We are thrilled that investors share our vision for the company and for what Zenefits can bring to the marketplace,” he said.

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