Zeal (formerly Puzzl), a San Francisco, CA-based API-first payroll infrastructure provider, raised $13m in Series A funding. The round was led by Spark Capital, with participation from Commerce Ventures and notable individual investors including: Marqeta CEO and Founder Jason Gardner and CRO Omri Dahan, Robinhood Founder Vlad Tenev, UltimateSoftware EVP Mitch Dauerman and SVP Bob Manne, and Namely Founder Matt Straz. The round follows a $1.6m seed investment led by Long Journey Ventures, Box Group, and Scott & Cyan Banister.
“Our mission is to touch every American paycheck with our tax and payment technology, ensuring that American employees are paid correctly and efficiently,” CTO and Co-Founder Krishnan said.
Led by Kirti Shenoy, CEO and Co-Founder, and Pranab Krishnan, Zeal has developed an embedded fintech ecosystem, empowering platforms to build individualized payroll products. The company helps platforms and large enterprises to build their own payroll products. Enterprises that pay a large volume of workers use Zeal to build a custom payroll product that can automate high volumes of payment processing and keep payment data on their own native system.
The new capital will be used for growing the team and scaling the product.
Announcement: Zeal Raised $13M for Payroll API