Francisco Partners completed the investment in Zenefits.

Francisco Partners, a private equity firm, completed the investment in Zenefits, a SaaS company offering a cloud-based human resource information management. Financial terms were not disclosed. The investment would allow Zenefits to capitalize on the $30bn market for human resources software among malls and midsize businesses. Francisco sees momentum in Zenefits transitioning from its original business model to software as a service. The deal comes as Zenefits has come under increasing pressure during Covid-19.