ZingHR today said it has raised $10 million from Tata Capital Funds, according to a company statement on Monday.
The latest investment gives Tata Capital Funds a 33% stake in the company.
‘ZingHR has a presence in markets such as Australia, Southeast Asia, and the Middle East and will now look at expanding to Europe, more countries in the Middle East, North Africa, and the US. We will scale up efforts and are going to aggressively pursue these markets,” said Founder and MD at ZingHR, Prasad Rajappan.
ZingHR 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,” Prasad Rajappan said.
“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,” Akhil Awasthi, Managing Partner – Tata Capital Growth Fund, said.
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 banking, financial services and insurance (BFSI), retail, services, IT-ITeS, staffing, pharma and healthcare, and manufacturing.