B2B marketplace IndiaMART invests Rs.17-Cr in HR-tech startup

B2B marketplace IndiaMART has invested INR 17 crore in Gurugram-headquartered, SaaS-based human resource startup, Zimyo. Founded in January 2018 by Kumar Mayank and Ajay Kadyan, Zimyo is an SMB-focused startup that offers SaaS-based human resource management software for its clients. The platform allows users to carry out HR processes like payroll management, performance management, among other things. Zimyo is backed by investors such as Beenext, AngelList and others including Sweta Rau and CRED's Kunal Shah. In September of 2020, it had raised USD 1.5 million in a seed funding round led by Beenext. With the current investment, the startup has so far raised USD 3.7 million from venture capital firms.