Zenefits, a company providing cloud-based human resource services, may only be two years old, but it already boasts a valuation of $4.5 billion. The company managed to reach this impressive marker by raising a whopping $500 million in its Series C funding round. This injection of capital represents the largest funding round for a software-as-a-service (SaaS) company since Workday’s IPO in October 2012. Zenefits is backed by a variety of investors, including Andreessen Horowitz and Fidelity Management. The company’s CEO, Conrad, said they plan to use these funds for hiring across all department, spurring even greater growth. Discover more about Zenefits’ future growth strategies at MSN Money.
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