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ZenPayroll Raises $60M Round Led by Google Capital

Making people the most important part of every business

SAN FRANCISCO (April 6, 2015)ZenPayroll announced today that Google Capital is leading a $60 million round of funding in the company, with participation from Emergence Capital Partners, Ribbit Capital, and others, as well as existing investors including General Catalyst, Kleiner Perkins Caufield & Byers, and Google Ventures. This round brings ZenPayroll’s total funding to date to $86.1 million.

“ZenPayroll has changed payroll from an impersonal transaction into a meaningful connection between employers and employees, and we’re delighted to join in their mission to free people to do their best work,” said Laela Sturdy, partner at Google Capital. “They’re growing at an incredible rate and we’re excited to see how they’ll continue to help small businesses around the country.”

ZenPayroll launched in 2012 with support for companies in California. Having grown by over 10x since their Series A, ZenPayroll is currently processing billions of dollars in annual payroll for more than 10,000 small businesses across the country. Today the company supports businesses in 47 states and the District of Columbia, representing over 98% of the U.S population. By the end of April, ZenPayroll will support businesses nationwide.

“We are proud to welcome Google Capital to the ZenPayroll community. Not only does Google exemplify the power of technology to improve people’s lives, they also share our core belief that people are the most important part of every business,” said Joshua Reeves, CEO and co-founder of ZenPayroll. “We are building a future where everyone can reach their fullest potential at work. That mission is part of everything we do, from designing the product to serving our customers to growing our team. We are excited to benefit from the talent, passion and strategic expertise of Google’s technology and product leaders.”

ZenPayroll, which currently employs approximately 84 people in its headquarters in San Francisco, is hiring. For more information, go to: zenpayroll.com/careers.

About Google Capital

Google Capital is a growth equity fund backed by Google. Google Capital invests in companies that use technology to change the way people experience the world. Advised by Google technology and product leaders, the Google Capital team has the extensive operational and technical expertise to make smarter investments and help our portfolio companies succeed. Some of Google Capital’s investments to date include SurveyMonkey, Lending Club, Credit Karma, Thumbtack and Glassdoor. (www.googlecapital.com)

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.