ZenPayroll, a company that makes it easier for small businesses to pay their employees, announced yesterday it has been granted funding.
The San Francisco-based startup brought in $20 million in Series A funding from investors General Catalyst and Kleiner Perkins. The new installment, combined with the more than $6 million it received in December of 2012, brings the company’s total funding to just over $26 million.
It plans to use the funds to build new features and create add-ons to existing features, such as:
- Increase payroll automation
- Help employers build stronger bonds with employees
- Help employees better understand their finances
This news comes on the heels of yesterday’s announcement of ZenPayroll’s participation in FinovateSpring in April. To see its newest development in action, get your ticket here.