# Zeal

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zeal-2

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.zeal.com
- Total disclosed funding: $30M
- Latest round: Series B (Nov 30, 2023)
- Investors on record: 5

## About

Zeal is a US-based financial technology firm that offers innovative solutions tailored for staffing companies, focusing on automated onboarding, efficient payments, and streamlined billing processes.Zeal, founded in 2019, operates from its headquarters in San Francisco, US, providing financial technology solutions for staffing companies. The company was co-founded by Aakruti, Kirti Shenoy, Pranab Krishnan, and Veeraj Mehta, with Kirti Shenoy serving as the CEO. In November 2023, Zeal secured USD 14.50 mn in Series B funding, led by Portage Ventures, which brings the total amount raised to USD 14.50 mn.Zeal specializes in offering a comprehensive suite of financial technology solutions designed for staffing companies, focusing on onboarding, payments, and billing. Their platform automates worker onboarding to ensure compliance and effective document management, while also facilitating fast payroll processing to enhance worker retention. Additionally, Zeal's billing capabilities convert worker pay into accounts receivable, aiding cash flow management. The company serves a diverse range of clients, including staffing agencies and recruitment platforms across various sectors such as hospitality, legal, and healthcare, primarily in the United States and select international markets.Zeal generates revenue through a structured model that includes service fees associated with its onboarding, payment, and billing solutions. The company engages in business-to-business transactions, offering subscription-based access for staffing agencies and firms. Revenue is derived from fees for onboarding, payroll processing, and billing management, which vary based on service usage, encompassing both recurring subscription fees and transaction-based charges tied to payroll and billing operations.In November 2023, Zeal raised USD 14.50 mn in Series B funding, which will be used to introduce new services and enhance offerings for staffing companies, gig work platforms, and HR service providers. The company aims to expand its market presence, targeting additional sectors and geographic regions to further grow its client base and service capabilities.

## Funding rounds

- Series B, Nov 30, 2023, $15M — Spark Capital, Commerce Ventures, Portage Ventures
- Series A, Jun 29, 2021, $14M — Spark Capital, Commerce Ventures
- Seed, Mar 12, 2020, $1.6M — BoxGroup, Long Journey Ventures

## Investors

- BoxGroup (https://capitalatlas.ai/funds/boxgroup) — Seed
- Long Journey Ventures (https://capitalatlas.ai/funds/long-journey-ventures) — Seed
- Spark Capital — Series A, Series B
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Series A, Series B
- Portage Ventures (https://capitalatlas.ai/funds/portage-ventures) — Series B