Tata Capital Growth Fund II logs into HR SaaS Platform ZingHR
The HR-Tech startup will be using the capital inflow for expansion, tech upgrade, and in strengthening its talent pool
In a major fillip to its future plans, ZingHR, a Microsoft-Accelerated HR-Tech startup, has garnered USD 10 million in funding from Tata Capital Growth Fund II, the flagship private equity fund of Tata Capital.
The investment will be utilised for further geographic expansion, technology upgradation, and to strengthen the company’s outreach to the right talent. ZingHR has been leading tech-driven transformation in the HR domain, helping organisations to align their automation transitions with desired business outcomes while enhancing employee experience.
Akhil Awasthi, Managing Partner – Tata Capital Growth Fund expressed, “We believe adoption of SaaS based processes will decide future winners as businesses go digital. Zing HR’s SaaS solution is robust, nimble, adopted by marquee customers and is shepherded by the astute vision and experience of Prasad Rajappan.”
Sanjay Chaudhary, Partner – Tata Capital Growth Fund, further added, “Our investment in ZingHR is another milestone in building companies that share our values and vision for the future. ZingHR has been leading the transformation in the HR domain; bringing a deep-rooted change within different companies in the hybrid work environment and helping them re-orient their goals with employee-friendly policies. We like the well-grounded and humble culture at ZingHR which aligns with our ethos at TATA Capital.”
Commenting on the funding, Prasad Rajappan, MD & CEO, ZingHR, said, At Zing HR, our efforts have been focused on driving an employee-centric approach while helping organisations to leverage technology in order to meet their business objectives. This funding will be critical in taking further our expansion plans and strengthening our Outcomation approach across different verticals. We are also pleased to work with Tata Capital Growth Fund with whom we share similar ethos and values of building an employee-centric workplace ecosystem. We wanted to raise real Capital only once we became EBIDTA and Cash Positive, which we achieved last year”
ZingHR has been leading the field in promoting the ‘Outcomation’ approach wherein the focus is on Tangible Business Outcomes (TBO) rather automating People Processes. So far, ZingHR has raised a mere $2 million including seed and angel funding, and strategic investments. The company serves over 700 enterprises with a million employee records with Vertical specific solutions for BFSI, Retail, Services, IT-ITES, Staffing, Pharma & Healthcare, Manufacturing. It offers complete solutions in HR using artificial intelligence, machine and deep learning algorithms. Apart from India, ZingHR is available in the Middle East, South East Asia, Australia and soon spreading to Europe, Africa and the US.