ZenPayroll Is Now Hitting $100 Million In Payroll Processing Annually
ZenPayroll is a company that can process paychecks similar. The company has been compared to Paychex and ADP. ZenPayroll’s solutions are cloud-based and they have grown rapidly since launching in the last 8 months. The company is now processing over $100 million for the businesses that use their solutions.
Thousands of employees are getting paid through ZenPayroll and their largest customer represents under 2% of the $100 million milestone. Most of ZenPayroll’s customers are small businesses with under 10 employees. Many of their customers include bakeries, VC firms, hotels, and churches.
ZenPayroll raised funding from many well-known Internet entrepreneurs like Drew Houston (Dropbox), Jeremy Stoppelman (Yelp), David Sacks (Yammer), and Aaron Levie (Box). ZenPayroll raised around $6 million in seed funding.
ZenPayroll has a base fee of $25 per month per company. The first ten employees cost $4 per month and each employee after that costs an additional $2 per month.
There is a 10-15 minute setup process when a company first joins. Data does not have to be entered more than once. Bonuses, hours worked, and reimbursements can be plugged into an employee’s payroll information quickly.
Once employees leave the company, they can still access their information.
[Image Credit: ZenPayroll]