Cloud-tech HR company ZingHR on Monday confirmed that it raised USD 10 million (about Rs 74.2 crore) from Tata Capital Funds that will provide Tata capital funds with a 33 per cent stake in the company.
The funds will be used for expansion into global markets, upgrading technology and scaling up its talent pool. 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.
What a year it has been for us so far. 💫
🔹We are extremely happy to inform you that TATA Capital has decided to partner with us to fuel our growth by #investing in us.
Here is the story- https://t.co/jxlEBtH90s#growth #tatacapital #hrms #hrtech #hr #ZingHR #hrtechnology pic.twitter.com/WpC73Qq9gh
— ZingHR (@ZingHR) January 17, 2022
“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.
As companies expand their strategic acquisition in HR tech, ZingHR focuses on enriching emerging technology and raising human capital to lead various landscapes. “Irrespective of the episodic disruptions we are set to revolutionize the HR vertical for every industry/vertical irrespective in the coming times,” added Prasad.
“We believe the adoption of SaaS-based processes will decide future winners as businesses go digital. ZingHR’s SaaS solution is robust, nimble and adopted by marquee customers,” expressed Akhil Awasthi, managing partner – Tata Capital Growth Fund.
The funds will be used for expansion into global markets, upgrading technology and scaling up its talent pool.
ZingHR 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.