Zenefits closed a big round of funding today, bringing in $66.5M from Andreessen Horowitz and Institutional Venture Partners at a $500M valuation. “We think it’s the fastest-growing cloud company ever,” said Lars Dalgaard, the a16z partner who led the deal and described it as “a Halley’s Comet moment for us.”
Wefunder was proud to invest in Zenefit’s hotly competitive seed round only a year ago, alongside Andreessen Horowitz, Y Combinator, Venrock, Maverick Capital and many well-known angels. The seed round was over subscribed, with many independent early stage investors unable to secure a portion of the allocation.
With today’s news, investors on Wefunder who backed Zenefits gained an over 4,000% unrealized return within just one year. “It was a great morning,” said Nick Tommarello, CEO of Wefunder. “It’s fun to tell people who invested $5,000 that their stake is now valued at over $200,000. It shows that the highest-quality startups will open up their seed deals on Wefunder.”
Every week, Wefunder features a high-quality startup investment opportunity, typically sourced from leading accelerators, such as Y Combinator, Techstars, or 500 Startups. Sign up for Wefunder today and you’ll be the first to know of the next opportunity to invest in a great startup like Zenefits.
