Workday challenger Zenefits raises $15 million
SAN FRANCISCO Jan 22 (Reuters) - Zenefits, a human resources software company that is taking on industry giant Workday, said it had raised $15 million in financing led by venture firm Andreessen Horowitz.
While the San Francisco-based company focuses on small and medium businesses for now, it plans one day to target bigger businesses, said Andreessen general partner Lars Dalgaard, who is joining Zenefits' board.
Zenefits makes money by fees collected from insurance companies when it refers its clients for insurance. Its core services are free.
Enterprise-oriented software is attracting big investments in ventures after the stock market success of companies like analytics company Tableau, marketing company Marketo , and in 2012, Workday.
Existing investors Maverick Capital and Venrock participated in the funding round.
- U.S., backed by Arabs, launches first strikes on fighters in Syria |
- Qatar adamant it will host 2022 World Cup despite doubts
- Argentina's Fernandez to meet billionaire investor Soros in New York
- Ebola could strike 20,000 in six weeks, 'rumble on for years': study
- Euro data hits stocks, China reading soothes commodities