"TriNet's acquisition marks the start of an exciting new chapter for the entire Zenefits team. Home to #Workest. Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Zenefits CEO Parker Conrad Resigns Amid Scandal - Forbes Learn why you need to make the leap from HR to People Ops. Francisco Partners Invests In NZXT | Mergr M&A Deal Summary With more than $30 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. Learn about Zenefits's growth to $5,000,000,000, it's CEO, headquarter locations, founders, valuation & net worth, and more. About TriNet Working at Zenefits | Glassdoor As part of the acquisition, former Chief Financial Officer of Zenefits Shaun Wiley has assumed the role of Senior Vice President at TriNet Zenefits. BBB File Opened: 7/29/2013. Francisco Partners Investor Profile: Portfolio & Exits | PitchBook 50,000 visitors per month, Zenefits, Once Worth $4.5 Billion, Does Deal With Private-Equity Firm 50 Beale Street San Francisco, CA 94105 Streamline HR, employee benefits, payroll, and more with our simple, intuitive platform. zenefits.com. Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Earlier in his career, he was Director of Semiconductor Banking at Robertson, Stephens & Company and a management consultant at McKinsey & Company. Zenefits is a leading cloud HR platform which provides innovative and intuitive HR, benefits, payroll and employee engagement software purpose-built for small and medium-size businesses. Employee info automatically flows to Benefits, where they can select and manage their own plans. Managing your people is complex. Zenefits streamlines your workflow by automatically connecting HR, Benefits, Payroll and Scheduling, together 902 Following. Founded by Parker Conrad in 2013, the HR startup quickly became a tech darling, sporting that sky-high valuation within three years. For more information on Francisco Partners, please visit www.franciscopartners.com. This is cannibalism of the 99% work. things. We want to acknowledge and thank Zenefits employees, customers and partners for all their hard work and dedication, said Scott Eisenberg, Head of Credit and Structured Solutions at Francisco Partners. Yalonda M. James/San Francisco Chronicle via Getty Images. Want to talk to sales or schedule a demo? Software Startup Zenefits Settles SEC's Investor-Deception Claims - Yahoo! Sign up for a demo account and explore the platform yourself. Les startups technologiques d'entreprise que vous devez connatre Next . Details of the stock and cash transaction were not disclosed. Francisco Partners | LinkedIn What is Zenefits: CEO, Headquarters, Founders, Valuation, Wiki, Founded 2023 Francisco Partners. . Local headlines and stories are HeadTopics.com immediately. Zenefits . When we onboard our employees, its really quick and easy. 2023 Francisco Partners. TriNet Group, Inc. - TriNet Completes Acquisition of Zenefits Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, TriNet Announces Partnership with the American Foundation for Suicide Prevention, TriNet Group, Inc. Tech private-equity firm Francisco Partners has gained control of former highflier Zenefits, once worth $4.5 billion, in a financing deal. Interesting! Francisco Partners to Acquire IBM's Healthcare Data and Analytics Assets Location of This Business. It's been 17 long years since I've made a pot of cicada gumbo. Francisco Partners is a leading technology investment firm with deep sector focus and a track record of delivering outstanding returns. TriNets commitment to powering the success of small and medium-size businesses will be expanded to include an ASO product offeringleveraging Zenefits industry leading cloud HR platform., He added, We look forward to welcoming the Zenefits team with their extensive SMB expertise as we usher in the next phase of TriNets growth., Over the past few years, weve successfully transformed our business to a leading SaaS people platform, and we are incredibly proud of what we have achieved and the position we are now in to meet the needs of small and mid-sized businesses, said Jay Fulcher, CEO, Zenefits. The agency, founded in 2012, has more than 300 employees and provides content marketing, email marketing, PPC, SEO, social media marketing, web design, and PR services. TriNet Zenefits (legal name: YourPeople, Inc., previously known as Zenefits) is a technology company based in San Francisco, that offers cloud-based software as a service to companies for managing their human resources, with a particular focus on helping them with payroll and health insurance coverage. Announces Final Results of its Modified Dutch Auction Tender Offer. Head Topics, publish breaking news of all around the world. TriNet announces acquiring Zenefits in the big HR merger "Upon completion of the deal and as part of TriNet, Zenefits will have the resources to continue to serve SMBs today, tomorrow and well into the future.". Sources say Zenefits venture-capital investors, including Andreessen Horowitz and Founders Fund, have already marked their investments in the firm to zero. San Francisco-based startup Zenefits will pay $450,000 to settle federal claims that company leaders falsely told investors that employees were licensed to sell insurance. All Rights Reserved. Coverage that'll make everyone happy. CoStar Group, Northern deals decline as investors get cautious - Prolific North, Fengate Private Equity-backed Inflector snaps up Donalco - PE Hub, Morgan Lewis Will Open Second Germany Office with 20-Lawyer - We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational . Zenefits Was the Perfect Startup. Then It Self-Disrupted Whats the best way to have a lack of compensation and incentive conversation in your department? Investments Number of Investments 85 Number of Lead Investments 59 Francisco Partners has made 85 investments. Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. TriNet (NYSE: TNET) provides small and medium-size businesses (SMBs) with full-service HR solutions tailored by industry. Master the future of work with the definitive book on People Operations and how it will transform your business. From Main Street to Wall Street, TriNet empowers SMBs to focus on what mattersmostgrowing their business and enabling their people. Im 1/64th black, how much do I get? Get familiar with the Platform by exploring your very own demo account. "The timing is perfect for this acquisition given the recent small business boom and increase in new entrepreneurs that can benefit from our service offering. For more information on Francisco Partners, please visit www.franciscopartners.com. The periodical insects, also known as Brood X, are back. Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Todays acquisition of Zenefits marks a historic day for TriNet and I could not be more excited to diversify our SMB product offering, said Burton M. Goldfield, TriNet President and CEO. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Tobenna Arodiogbu - CEO - CloudTrucks | Business Profile Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. Since its launch over 20 years ago, Francisco. It's an excellent platform for streamlining your HR operations . TriNet, incredible starts here. The timing is perfect for this acquisition given the recent small business boom and increase in new entrepreneurs that can benefit from our service offering. Zenefits, once worth $4.5 billion, does deal with a private-equity firm that gives it control. Employee self-service and seamless Benefits management. NFEX Raises $3M Seed Round To Build NFT Derivatives DEX. 1. Keeping a business compliant is made easier with Zenefits. Francisco Partners Check your email for your access link. We make onboarding new employees ridiculously easy. By adding an enhanced HCM software product to TriNet's PEO offering, we will be in a position to create a unique HR solution not available in today's market which we intend will eventually operate within the same technology cloud environment. San Francisco zenefits.com Joined December 2012. Zenefits is Your All-In-One Software Solution for Benefits + HR + Compliance + Payroll Management. 2. Upon deal close, Zenefits will become a wholly owned subsidiary of TriNet and Francisco Partners will become a TriNet stockholder. Sesame's competitors and similar companies include Darwinbox, MHR, Zenefits and Wonderlic. Within three years of operations, Conrad built Zenefits to become one of the best HRIS platforms in the HR tech industry valuing at around 4.5 billion US dollars at 2016. Tech private-equity firm Francisco Partners has gained control of former highflier Zenefits, once worth $4.5 billion, in a financing deal. Through a centralized and highly scalable platform with a modern consumer-like user . The firm prefers to make growth and majority investments in technology-focused companies operating in the financial services, healthcare, software, internet, security, communications, edtech, and business services sectors. Zenefits, once worth $4.5 billion, has completed a financing deal with private-equity firm Francisco Partners that gives the investment firm control of the company, Forbes has learned. New York, NY. Through a centralized and highly scalable platform with a modern consumer-like user interface, TriNet Zenefits delivers software-based solutions to help streamline workflows by connecting HR, Benefits, Employee Engagement, Payroll and Time & Attendance. Any insights would be helpful. 5. TriNet and theTriNetlogo are registered trademarks of TriNet. Since its launch over 20 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. Tweets. The acquisition is expected to close in the coming months, subject to customary closing conditions, including the receipt of regulatory approvals. A source familiar with the deal noted that the investment would allow Zenefits to capitalize on the $30 billion market for human-resources software among small- and medium-sized businesses. one platform. Zenefits (@Zenefits) / Twitter Effective today, Zenefits is a wholly-owned subsidiary of TriNet and will be known as TriNet Zenefits. Effortless payroll. San Francisco startup Zenefits bans sex and alcohol in the office - SFGATE From Main Street to Wall Street, TriNet empowers SMBs to focus on what mattersmostgrowing their business and enabling their people. TriNets acquisition marks the start of an exciting new chapter for the entire Zenefits team. Upon completion of the deal, the addition of Zenefits will expand TriNets ecosystem to serve more than 24,000 SMBs and approximately 600,000 employees. From a mobile app that A source familiar with the deal noted that the investment would allow Zenefits to capitalize on the $30 billion market for human-resources software among small- and medium-sized businesses.