Cloud tech HR venture ZingHR has taken up 10 million dollars from Tata Capital Funds. Tata Capital control Private justice, and Venture Capital funds with increasing assets under management of approximately 1 billion dollars.
The funds invest around the business lifecycle focusing only on opportunities that undertake growth and profitability, while the fund management teams work with each owner-manager investee to plan on the understanding of that perspective which latter gives a 33% stake in the company.
The company will use this fund for its expansion to global markets, advanced technology, and increase its talents and they are happy to be partnered with tata on their rethink organizational output through the use of cutting-edge technology. They accomplish outstanding growth in the past few months.
This funding, later on, increases their capacity to widen their footprints around the world was the objective of the CEO & founder of a cloud tech venture called Prasad Rajappa the growth comes as ZingHR looks to count its presence globally. The company is already present in Australia, Southeast Asia, and the Middle East and is now looking to widen to Europe and more countries in the Middle East, North Africa, and the US.
The managing director of tata capital growth fund Mr. Akhil Awasthi concluded about the cloud tech venture that They trusted the adoption of SaaS-based processes will determine their future winners as businesses expand digitally.
Zing HR’s SaaS solution is robust, quick, and adopted by marquee customers, ZingHR was latterly featured among Asia’s Top Ten Human Capital Management Suites in the Gartner study formed in 2014, offers broad ‘hire-to-retire solutions’ to aid organizations to adopt digital transformation and improvise their business outcomes while enhancing the employee experience.
The company serves over 700 enterprises across BFSI, retail, services, IT-ITeS, staffing, pharma & healthcare, and manufacturing. It leverages emerging technologies such as Artificial Intelligence, Machine Learning, Deep Learning, etc.
Each Fund has a different objective and is run by differently committed, dedicated, and experienced professional teams in the name of its Limited Partner investors. Venture capital money is streaming the human resources space as employers look for new paths to engage hire and maintain their workforces.