Zenefits receives $66.5 million in funding

Posted Jun 4, 2014

Zenefits has raised another $66.5 million in funding from investors a few months after its first capital-raising. Zenefits was given a valuation of $500 million before the new investment.

Zenefits handles human resources tasks for small- and medium-sized businesses. The company is often compared to Workday.

Zenefits generates revenue by receiving fees from insurance companies when referring clients. Zenefits has raised around $84 million in funding since being founded last year.

Other investors that participated in this round included Institutional Venture Partners, SV Angel, and Hydrazine Capital. Another notable investor in Zenefits is Jared Leto an Academy Award winning actor and musician.