Zenwork Lands Rs 1,200 Crore In Funding From Us-Based Spectrum Equity

Nov 23, 2021•almost 4 years ago

Amount Raised

₹12 Billion

HyderabadProfessional ServicesOtherSoftware

Description

Hyderabad-based Zenwork, a software-as-a-service (SaaS) platform for digital tax compliance and regulatory reporting for businesses, has raised Rs 1,200 crore in funding from US-based growth equity firm Spectrum Equity, as it looks to expand its operations beyond the US and into Europe and Asia.

Company Information

Company

Zenwork

Location

Hyderabad, Sindh, Pakistan

About

The over 10-year old company founded by husband and wife duo Sanjeev Singh and Rekha Singh, had remained bootstrapped until now, but said it required capital to take advantage of the massive growth in the automated tax compliance and regulatory reporting space due to the Covid-19 pandemic. The company added that it will invest heavily in growing the capabilities of its Tax1099 and Compliancely platforms, while hiring between 100-150 people across roles of engineering, sales, product management to help make this happen. Until now, Zenwork had just 18 employees.

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Zenwork Lands Rs 1,200 Crore In Funding From Us-Based Spectrum Equity

Description

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Company Information