Cloud HR Zenefits venture will only 2 years of valuation will break 3 billion

Zenefits

Sina

technology news Beijing time on April 22nd afternoon news, the U.S. technology blog TechCrunch quoted sources as saying that the human resources startups Zenefits valuation has exceeded $1 billion, and now from the company was founded only two years.

Zenefits helps small and medium enterprises to manage human resource services more conveniently. Similar to other contemporary enterprise services, Zenefits wants to design a more simple process for employee compensation and benefits management. The company provides free human resources services to enterprises, and through the insurance company to collect commissions to obtain income.

sources said, Zenefits may be a round of $300 million to $500 million in financing, and valuation of more than $3 billion. In addition, there is news that the company is in contact with the common venture capital institutions, including growth funds and hedge funds, and the highest valuation may reach $4 billion. News shows, fidelity and Anderson Horowitz participated in this round of financing Zenefits.

earlier news that Zenefits’s valuation of $2 billion to $3 billion. It is clear that investors have become increasingly interested in the company over the past few weeks. This is not surprising given the huge amount of financing Slack has completed last month. Slack announced last week to $2 billion 800 million valuation of $160 million financing. This also means that, in less than a year, the valuation of Zenefits increased by 6 to 8 times.

Zenefits is by far one of the fastest growing software as a service (SaaS) company. Zenefits has said that it will achieve annual revenue of $100 million in 2015. Sources said that the company’s 2015 GAAP revenue will be $50 million, well above the $8 million in 2014.

but at the same time, due to ongoing recruitment, Zenefits in the next few years will also have higher cash expenditures. Sources said the company expects a loss of more than $100 million in 2015, well above the level of 2014.

sources said that by the end of 2014, the total number of employees Zenefits about 500 people. Expected by the end of 2015, this figure will grow to 4 times. Last year the company said it would hire about 1300 employees over the next 3 years. Among them, most of the growth from sales marketing staff.

A spokesman for

Zenefits said the company would not comment on the rumors.

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