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ZenPayroll Launches Modern, Automated Cloud Payroll Service

Raises $6.1 Million in First Round of Funding to Simplify Payroll for Businesses

SAN FRANCISCO (December 11, 2012)ZenPayroll, Inc., today announced the launch of its modern cloud-based payroll service, enabling employers to quickly and easily pay their employees using a connected device. In addition, ZenPayroll saves employers time by automating all payroll tax calculations and payments, providing direct deposit, and filing all payroll-related government documents paperlessly. The software takes just minutes to set up, requires no training to use and payroll can be completed with just a few clicks.

Processing payroll is necessary in order for every company to operate and can be a major pain point due to endless paperwork and constantly changing regulations. In 2011, U.S. companies received approximately $5.3 billion in payroll tax penalties, according to the IRS Data Book. Traditional legacy software systems are often overly complex, expensive and only add to the frustration of users. The increasing adoption of cloud, mobile, e-file, e-sign and e-fax technologies is enabling ZenPayroll to offer an easy-to-use, affordable solution.

“ZenPayroll was founded with the belief that the underlying building blocks of payroll are inherently delightful: for the employee, it's about receiving compensation for their hard work and for the employer, it's about recognizing those incredibly important contributions. Current payroll providers have squandered that potential by creating products that are difficult to use. Given this, it's not surprising that most employers and employees have no passion or brand affinity for existing solutions,” said Joshua Reeves, CEO and co-founder, ZenPayroll. “By fundamentally re-thinking how payroll works with a focus on user experience, we are able to deliver delightful payroll that is easy-to-use, secure and saves businesses time and money.

ZenPayroll features include:

  • Dashboard: view all pending tasks and upcoming important dates
  • Run Payroll: add employee hours, overtime pay, bonuses, reimbursements and more
  • Automatic Tax Payments and Filing: payroll taxes are calculated, paid and reported to the Federal and State government paperlessly
  • Employee Access: change pay settings, access paystubs and employment documents, manage personal and financial details, review pay and benefits data
  • Benefits Management: add pre-tax and post-tax deductions for each employee
  • PTO Tracking: track and report vacation and sick days
  • Payroll History: view past payroll cycles and pay stubs for each employee
  • New Employee Reporting: automatic reporting of new employees to State
  • Flexible Payroll: pay employees by direct deposit or check, set custom pay schedules, bonuses, reimbursements, garnishments, accounting reports and more

Funding

ZenPayroll raised $6.1 million in its first round of funding and is backed by some of the most influential and successful founders and organizations, including:

  • Aaron Levie, CEO and co-founder, Box
  • Data Collective
  • David Sacks, CEO and co-founder, Yammer
  • Drew Houston, CEO and co-founder, Dropbox
  • Google Ventures
  • Jawed Karim, co-founder, YouTube
  • Jeremy Stoppelman, CEO and co-founder, Yelp
  • Kris Duggan, CEO and co-founder, Badgeville
  • Larry Augustin, CEO, SugarCRM
  • salesforce.com
  • Sherpalo Ventures
  • Tien Tzuo, CEO and co-founder, Zuora
  • Y Combinator

About Gusto

Gusto is on a mission to bring life to work by reimagining payroll, benefits, and HR. Gusto serves over 30,000 companies nationwide and makes the most complicated, impersonal business tasks simple and delightful. Gusto has offices in San Francisco and Denver and its investors include Google Capital, General Catalyst, Kleiner Perkins Caufield & Byers, and the founders of Instagram, Stripe, Nest, PayPal, Yelp, Dropbox, and Eventbrite, among others.