Zimyo, a cloud-based HR and benefits solutions for startups, has raised an undisclosed amount of funding from Yatra Angel Network. Other investors who participate are fintech veterans Abhishant Pant (Founder of Fintech Meetup), Navin Surya (Chairman Emeritus, Payments Council of India), Madhusunandan R (Founder of YAP), Jose Thattil (Founder of Phi Commerce), Tejasvi Mohanram (Founder of RupeePower), and Chiranth Patil (BetaPlus Capital), among others. The company was founded by Kumar Mayank, along with Ajay Kadyan in 2018.
The company will utilize these funds to further develop its product offerings, and to scale into multiple diversified platforms.
In a media statement, Kumar Mayank, Founder, Zimyo, said, “I believe that the future of HR has arrived, and HR needs to be a function that takes the lead in understanding what makes people engaged, what cultures drive the most productive workplaces, and what equations enable a true merging of human capability with technology. The need for a digital transformation from operating in a traditional cocoon is no longer an option. The sooner the shift happens, the higher the chances of survival.”
Zimyo serves more than 150 organisations across the country, managing HR and payroll for over 32,000 employees. Post this fundraising, the company is aiming to on-board over 200,000 employees on its platform by 2020.
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