Announced
Completed
Financials
Sources
Tags
United States
Employee Benefits Software
Private Equity
payroll
Acquisition
Domestic
Majority
Single Bidder
Software
Private
Friendly
Completed
Synopsis
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.
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