Fresh off a career renaissance that culminated in an Academy Award win earlier this year, actor Jared Leto is the latest celebrity to hop on the entrepreneurial bandwagon.
The 42-year-old has tendered an investment in tech startup Zenefits, which handles human resources tasks such as benefits, payroll, health insurance and 401(k)s for small and medium-sized businesses. Zenefits is free to businesses; the company is paid by third-party providers for brokering their services.
Introduced to Zenefits by Box CEO Aaron Levie, Leto “is expected to help with connections to the media and entertainment industries,” The Wall Street Journal reports.
“This incredible company is the future of H.R.,” Leto told The New York Times. “They help us focus on people, creativity, and growing business rather than paperwork.”
The San Francisco-headquartered company’s series B round, led by Andreessen Horowitz, raised a total of $66.5 million, valuing the company at a reported $500 million.
In addition to a successful singing career, Leto has toyed with musical business ventures in the past. The Hive is a social media management agency whose aim is to foster deeper engagement between artists and their fans; The One and Only Golden Tickets arranges fan VIP experiences; and VyRT sells digital tickets to live-stream concerts.