ZingHR Raises $10 Million From Tata Capital Funds
The funds will be used for expansion into global markets, upgrading technology and scaling up its talent pool
Cloudtech HR venture ZingHR has raised $10million from Tata Capital Funds. The funds will be used for expansion into global markets, upgrading technology and scaling up its talent pool.
“We are thrilled to announce that we have bagged $10 million funding from Tata Capital Funds. At the same time, we are glad to partner with them in our journey to redefine organizational outcomes through the use of cutting-edge technology. We have clocked phenomenal growth in the past few months and this funding will further bolster our efforts to expand our footprints across the globe,” said Prasad Rajappan, founder and CEO of ZingHR.
The development comes as ZingHR looks to scale its presence globally. The company is already present in Australia, southeast Asia and the Middle East and is now looking to expand to Europe, more countries in the Middle East, North Africa and the US.
"We believe the adoption of SaaS-based processes will decide future winners as businesses go digital. Zing HR's SaaS solution is robust, nimble and adopted by marquee customers," said Akhil Awasthi, managing partner – Tata Capital Growth Fund.
ZingHR is an HRtech venture accelerated at Microsoft, with more than 400-plus employees, 600-plus customers, and two million-plus active users. It offers a range of solutions that help end-to-end processes in HR through Artificial Intelligence, Machine and Deep Learning algorithms, which helps improve employee performance and drives process efficiency in recruitment, offers ease of leave, attendance, payroll, and claim management. ZingHR is one of the few global ventures which offers almost all web and mobile-based modules from hire to retirement solutions with a seamless, state-of-the-art technology supporting those applications. ZingHR helps organizations to go beyond automation and deliver solutions that have a direct impact on Business Outcomes – Outcomation™️. The biggest driving force behind ZingHR’s success is the performance culture and obsession to deliver business outcomes, said a statement.