ZenPayroll hits $400 million in payroll processing, receives $20 million in funding

Posted Feb 19, 2014

ZenPayroll is a startup that is processing $400 million in payroll per year. This is up from $100 million in August, which means that the company has been skyrocketing in the last few months.

ZenPayroll has also raised $20 million in Series A funding led by General Catalyst Partners and Kleiner Perkins Caufield & Byers. ZenPayroll now operates in seven states. The company launched publicly in December 2012 after participating in the Y Combinator startup incubator.

Currently the payroll processing market is dominated by ADP and Paychex, which means that the market is ripe for disruption.

[Source: Bizjournals.com]