Zenefits company logo

The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

zenefits.com

Founded Year

2013

Stage

Acquired | Acquired

Total Raised

$583.62M

Revenue

$0000 

About Zenefits

Zenefits is a SaaS cloud-based human resources platform that helps more small and mid-sized companies empower their workforce, manage change and stay compliant. Zenefits' People Platform delivers an intuitive HR experience. Its HR, benefits, payroll and performance apps combine with advisory services and tightly integrated partner apps to radically simplify HR administration – reducing paperwork and complexity so companies can focus on starting, running and growing their businesses. It is based in San Francisco, California. On December 23rd, 2021, Zenefits was acquired by TriNet. The terms of the transaction were not disclosed.

Zenefits Headquarter Location

50 Beale Street Floor 10

San Francisco, California, 94105,

United States

888-249-3263

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Research containing Zenefits

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Zenefits in 4 CB Insights research briefs, most recently on Mar 29, 2022.

Expert Collections containing Zenefits

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Zenefits is included in 5 Expert Collections, including HR Tech.

H

HR Tech

4,016 items

HR tech startups are helping companies manage critical pain points in HR processes such as recruitment, automation, career development, compensation, and benefits management, through a mix of software and services.

S

SMB Fintech

1,499 items

I

Insurtech

1,796 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

F

Fintech

7,344 items

US-based companies

H

Health Plans & Benefits Management

714 items

Companies developing or offering digital platforms and services, including online insurance marketplaces, data analytics for claims adjustment, benefits administration, and payments systems, that help make private health insurance more affordable, navigable, or transparent.

Latest Zenefits News

16:15 EDT TriNet Announces First Quarter 2022 Results

Apr 26, 2022

News provided by Share this article 27% Growth in Professional Service Revenues to $194 million Net Income per Diluted Share of $2.21 and Adjusted Net Income per Diluted Share $2.55 DUBLIN, Calif., April 26, 2022 /PRNewswire/ -- TriNet Group, Inc. (NYSE:  TNET ), a leading provider of comprehensive human resources solutions for small and medium-size businesses, today announced financial results for the first quarter ended March 31, 2022. The first quarter highlights below include non-GAAP financial measures which are reconciled later in this release. First quarter highlights include: Total revenues increased 15% to $1.2 billion as compared to the same period last year. Professional service revenues increased 27% to $194 million as compared to the same period last year. Net income was $146 million, or $2.21 per diluted share, compared to net income of $101 million, or $1.51 per diluted share, in the same period last year. Adjusted Net Income was $168 million, or $2.55 per diluted share, compared to Adjusted Net Income of $111 million, or $1.66 per diluted share, in the same period last year. Adjusted EBITDA was $242 million, compared to Adjusted EBITDA of $163 million, in the same period last year. Closed acquisition of Zenefits in February 2022. Returned $316 million to shareholders through tender offer. Finished the First Quarter with over 601,000 Users across our PEO and HCM products. Average PEO WSEs increased 7% as compared to the same period last year, to approximately 343,000. Average HCM Users for the period following our acquisition of Zenefits was approximately 253,000. At March 31, 2022, TriNet had cash and cash equivalents of $235 million and total debt of $495 million. "TriNet successfully executed several strategic initiatives during the first quarter, which have positioned us for a strong 2022 and beyond," said Burton M. Goldfield, TriNet's President and CEO. "Our dynamic customer base continued to grow, add employees, and drive our first quarter revenue growth. Through our acquisition of Zenefits, we diversified and elevated our SMB product offering and positioned the company for a digital transformation. Finally, we returned capital to shareholders through a $316 million tender offer optimizing our balance sheet in the process." Mr. Goldfield added, "We strive to act in the best interests of all of our stakeholders. We are committed to helping our customers navigate the many HR complexities they are facing. Through the acquisition of Zenefits, we are expanding our product offering, serving our customers throughout their business lifecycle, all while continuing to deliver strong financial performance." Second Quarter and Full-Year 2022 Guidance In addition to announcing our first quarter 2022 results, we provide our second quarter and full-year 2022 guidance. Non-GAAP financial measures are reconciled later in this release. Percentages reflect the increase or (decrease) from the prior year quarter and prior year end. Q2 2022 Quarterly Report on Form 10-Q We anticipate filing our Quarterly Report on Form 10-Q ("Form 10-Q") for the three months ended March 31, 2022 with the U.S. Securities and Exchange Commission (SEC) and making it available at http://www.trinet.com today, April 26, 2022. This press release should be read in conjunction with the Form 10-Q and the related Notes to Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations contained in the Form 10-Q. Earnings Conference Call and Audio Webcast TriNet will host a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its first quarter results for 2022 and provide second quarter and full-year financial guidance for 2022. TriNet encourages participants to pre-register for the conference call. Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator. To pre-register, go to: https://dpregister.com/sreg/10165328/f237e25d40 . For those who would like to join the call but have not pre-registered, they can do so by dialing +1 (412) 317-5426 and requesting the "TriNet Conference Call. " The live webcast of the conference call can be accessed on the Investor Relations section of TriNet's website at http://investor.trinet.com . A replay of the webcast will be available on this website for approximately one year. A telephonic replay will be available for two weeks following the conference call at +1 (412) 317-0088 conference ID: 3514623. About TriNet TriNet provides small and medium-size businesses (SMBs) with full-service HR solutions tailored by industry. To free SMBs from HR complexities, TriNet offers access to human capital expertise, benefits, risk mitigation and compliance, payroll, all enabled by industry leading technology capabilities. TriNet's suite of products also includes services and software-based solutions to help streamline workflows by connecting HR, Benefits, Employee Engagement, Payroll and Time & Attendance. From Main Street to Wall Street, TriNet empowers SMBs to focus on what matters most—growing their business and enabling their people. TriNet, incredible starts here. For more information, visit TriNet.com or follow us on Twitter. Use of Non-GAAP Financial Measures Reconciliations of non-GAAP financial measures to TriNet's financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section titled "Non-GAAP Financial Measures." Forward-Looking Statements This press release contains, and statements made during the above referenced conference call will contain, statements that are not historical in nature, are predictive in nature, or that depend upon or refer to future events or conditions or otherwise contain forward-looking statements within the meaning of Section 21 of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including, among other things, TriNet's expectations and assumptions regarding: TriNet's financial guidance for the second quarter and full-year 2021 and the underlying assumptions, and the extent, length and growth impact of economic reopening efforts. Forward-looking statements are often identified by the use of words such as, but not limited to, "ability," "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "guidance," "impact," "intend," "may," "plan," "predict," "project," "seek," "should," "strategy," "target," "value," "will," "would" and similar expressions or variations. Examples of forward-looking statements include, among others, TriNet's guidance and expectations regarding future financial performance, the potential impact of the strategic initiatives executed by TriNet during the first quarter, TriNet's expectations regarding client hiring rates, the financial impact of our tender offer, and the impact of our newly expanded product offerings on future growth in TriNet's installed base. These statements are not guarantees of future performance, but are based on management's expectations as of the date hereof and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from our current expectations and any past or future results, performance or achievements. Investors are cautioned not to place undue reliance upon any forward-looking statements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include: the economic, health and business disruption caused by the COVID-19 pandemic; the impact of the COVID-19 pandemic on our clients and prospects, insurance costs and operations; the impact of the COVID-19 pandemic on the laws and regulations that impact our industry and clients; our ability to manage unexpected changes in workers' compensation and health insurance claims and costs by worksite employees; our ability to mitigate the business risks we face as a co-employer; the effects of volatility in the financial and economic environment on the businesses that make up our client base and the concentration of our clients in certain geographies and industries; loss of clients for reasons beyond our control; the short-term contracts we typically use with our clients; the impact of regional or industry-specific economic an health factors on our operations; the impact of failures or limitations in the business systems we rely upon; the impact of our 2020 Recovery Credit program and 2021 Credit Program; adverse changes in our insurance coverage or our relationships with key insurance carriers; our ability to improve our services and technology to satisfy regulatory requirements and meet the expectations of our clients and manage client attrition; our ability to effectively integrate businesses we have acquired or may acquire in the future; our ability to effectively manage and improve our operational processes; our ability to attract and retain qualified personnel; the effects of increased competition and our ability to compete effectively; the impact on our business of cyber-attacks and security breaches; our ability to secure our information technology infrastructure and our confidential, sensitive and personal information; our ability to comply with constantly evolving data privacy and security laws; our ability to manage changes in, uncertainty regarding, or adverse application of the complex laws and regulations that govern our business; changing laws and regulations governing health insurance and employee benefits; our ability to be recognized as an employer of worksite employees under federal and state regulations; changes in the laws and regulations that govern what it means to be an employer, employee or independent contractor; our ability to comply with the laws and regulations that govern PEOs and other similar industries; the outcome of existing and future legal and tax proceedings; fluctuation in our results of operation and stock price due to factors outside of our control, such as the volume and severity of our workers' compensation and health insurance claims and the amount and timing of our insurance costs, operating expenses and capital expenditure requirements; our ability to comply with the restrictions of our credit facility and meet our debt obligations; and the impact of concentrated ownership in our stock. Any of these factors could cause our actual results to differ materially from our anticipated results. Further information on risks that could affect TriNet's results is included in our filings with the SEC, including under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on our investor relations website at http://investor.trinet.com and on the SEC website at www.sec.gov . Copies of these filings are also available by contacting TriNet Corporation's Investor Relations Department at (510) 875-7201. Except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements in this press release, and any forward-looking statements in this press release speak only as of the date of this press release. In addition, we do not assume any obligation, and do not intend, to update any of our forward-looking statements, except as required by law. Contacts: Non-GAAP Financial Measures In addition to the selected financial measures presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP), we monitor other non-GAAP financial measures that we use to manage our business, to make planning decisions, to allocate resources and to use as performance measures in our executive compensation plan. These key financial measures provide an additional view of our operational performance over the long term and provide information that we use to maintain and grow our business. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation from, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. Non-GAAP Measure - Assets associated with WSEs (accounts receivable, unbilled revenue, prepaid expenses and other current assets) and - Liabilities associated with WSEs (client deposits and other client liabilities, accrued wages, payroll tax liabilities and other payroll withholdings, accrued health benefit costs, accrued workers' compensation costs, insurance premiums and other payables, and other current liabilities). • Provides information that our stockholders and management can use to evaluate our cash flows from operations independent of the current assets and liabilities associated with our WSEs. • Enhances comparisons to prior periods and, accordingly, used as a liquidity measure to manage liquidity between corporate and WSE related activities, and to help determine and plan our cash flow and capital strategies. (1) Non-GAAP effective tax rate is 25.5% for the first quarters of 2022 and 2021, which excludes the income tax impact from stock-based compensation, changes in uncertain tax positions, and nonrecurring benefits or expenses from federal legislative changes. (2) Non-cash interest expense represents amortization and write-off of our debt issuance costs and loss on a terminated derivative.

Zenefits Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Zenefits Rank

You May Also Like

Namely Logo
Namely

Namely is a cloud-based management platform that enables organizations to build teams, retain top performers and optimize business performance. The solution features 360 degree performance reviews, HRIS, team charting, messaging and reporting.

Salary Finance Logo
Salary Finance

Salary Finance partners with employers to offer financial wellbeing benefits that help improve employee retention and productivity. Salary Finance offers simple savings, access to their salary as it is earned, and affordable loans - all underpinned by accessible, engaging financial education. By helping employees manage debt, build a savings habit and access earned pay, they have created a more accessible alternative to traditional financial services providers.

Gusto Logo
Gusto

Gusto is an online platform that consolidates a company's payroll system, benefits information, and HR in one place.

Justworks Logo
Justworks

Justworks provides new businesses with a solution to set up manage payroll and offer large-company benefits while ensuring legal compliance. The dashboard allows companies to make it easy to fill out forms such as the I-9 and offers direct deposit and processes payments for contractors (a free service), salaried employees and hourly workers. On the platform, companies can also offer full medical, dental and vision coverage and process payments, files required taxes, files for workers' comp and handle other legalities for its users.

SmartHR Logo
SmartHR

SmartHR is a crowdsourced personnel management platform. The company automates procedures related to social insurance and unemployment insurance. It was developed to free up managers or human resources representatives from tiresome and time-consuming personnel management.

B
BeneFix

BeneFix is a managed marketplace that automates and optimizes marketing, sales, onboarding, enrollment, ben-admin and servicing.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.