Cloud-based payroll company ZenPayroll secures $60 million in funding

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They’re popping the bubbly at the San Francisco headquarters of ZenPayroll, which recently raised a $60 million Series B round led by Google Capital.

ZenPayroll’s application, which is hosted in the cloud, manages the task of government reporting and processing as an electronic process. The company supports businesses in 47 states and the District of Columbia, but by the end of April it hopes to extend support to businesses across the U.S.

The new round of funding, which includes participation from Emergence Capital Partners, Ribbit Capital, General Catalyst, Kleiner Perkins, Caufield & Byers and Google Ventures, brings the San Francisco-based startup’s total financing to $86.1 million, with an estimated value of $560 million, according to ZDnet.

Early funding to ZenPayroll came from the CEOs of Yelp, Dropbox, Yammer, and Box, as well as Y Combinator.

Last year, the company made headlines for partnering with FreshBooks, allowing ZenPayroll users to automatically populate their accounting software when a payroll cycle is run.


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