The HR software provider has raised the stake issued in May 2015 through the $500m Comcast-backed round from 11% to 25% in the wake of a regulatory scandal.
US-based human resources technology provider Zenefits revalued its $500m series C round yesterday, more than halving the valuation and supplying additional equity to investors including mass media company Comcast.
The series C investors’ collective stake in the company will be increased from 11% to 25%, and Zenefits’ valuation in the round accordingly cut from $4.5bn to $2bn. Earlier investors will receive small adjustments in order to offset the dilution of their shares.
Zenefits produces cloud software that helps simplify and…
