Cloud-tech HR venture ZingHR on Monday said it has raised USD 10 million (about Rs 74.2 crore) from Tata Capital Funds that will give the latter a 33 per cent stake in the company.
ZingHR will use the funding for expansion into more global markets, upgrade technology and scale up its talent pool, a statement said.
“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,” ZingHR founder and CEO Prasad Rajappan said.
ZingHR, which is already present in Australia, Southeast Asia and the Middle East, is 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," 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 improve 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.
