Cloud-tech HR venture ZingHR has raised $10million from Tata Capital Funds, which will give the latter a 33% stake in the company. The company will use the funding for expansion into more global markets, upgrade technology and scale 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 organisational 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& CEO, 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 was recently featured among Asia’s Top Ten Human Capital Management Suites in the Gartner study.
Founded in 2014 by Prasad Rajappan, ZingHR offers comprehensive ‘hire-to-retire solutions’ to aid organisations to adopt digital transformation and improving business outcomes while enhancing the employee experience. The company serves over 700 enterprises across BFSI, retail, services, IT-ITeS, staffing, pharma & healthcare, and manufacturing. It leverages emerging technologies such as Artificial Intelligence, Machine Learning and Deep Learning, etc.