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Venture Capital News: Zenefits Raises $500M

SAN FRANCISCO, CA, Zenefits has raised $500 million in venture funding.
According to Reuters, Human-resources software company Zenefits said it had raised $500 million in venture funding, giving it a valuation of $4.5 billion. Fidelity Management and Research Company and TPG Growth led the latest funding round. Other new investors were Founders Fund, Khosla Ventures, Insight Venture Partners, and Ashton Kutcher and Guy Oseary's Sound Ventures, joining previous investors Andreessen Horowitz, Institutional Venture Partners, and actor Jared Leto.

Zenefits is an insurance brokerage that helps runs your benefits, so you can run your business. First, Zenefits helps you get affordable benefits for your company from healthcare to 401k in minutes. Then Zenefits manages all your ongoing, time-consuming HR work for you'so you don't have to. Already have benefits? You can outsource your current HR headaches in just one click. Zenefits automatically manages your payroll, healthcare, COBRA, 401k, commuter benefits, and more.
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