Dec 30, 2021
TriNet, a leading provider of human resources solutions for small and medium-size businesses(SMBs), today announced it has entered into a definitive agreement to acquire Zenefits.
Details of the stock and cash transaction were not disclosed.
Zenefits is a leading cloud HR platform which provides innovative and intuitive HR, benefits, payroll and employee engagement software purpose-built for small and medium-size businesses. Through the acquisition of Zenefits, TriNet diversifies its product offering to include an Administrative Services Organization (ASO), enabling TriNet to dynamically service SMBs throughout their lifecycle.
Upon deal close, Zenefits will become a wholly owned subsidiary of TriNet and Francisco Partners will become a TriNet stockholder. TriNet is also expected to become a preferred supplier of PEO and HRIS services to Francisco Partners portfolio companies across the country after closing.
The acquisition is expected to close in the coming months, subject to customary closing conditions, including the receipt of regulatory approvals.
Company Now Valued at $1.5 Billion
Paradox, the conversational recruiting platform built to give every recruiter, hiring manager, and talent professional an assistant to get work done, today announced a $200M Series C investment. The round was led by Stripes, Sapphire, and Thoma Bravo, and included participation from Workday Ventures, Indeed, Willoughby Capital, Twilio Ventures, Blue Cloud Ventures, Geodesic, Principia Growth, DLA Piper Venture Fund and current investor Brighton Park Capital.
Paradox’s vision is embodied by Olivia — the conversational AI assistant helping companies like Unilever, Nestle, McDonald’s, CVS Health, and General Motors automate tasks like candidate screening, interview scheduling, onboarding, and more through smart, simple, mobile-first experiences. In just five years, Olivia has helped 500+ global clients save millions of hours of manual work — freeing their teams up to spend time with people, not software.