Zenefits, the embattled San Francisco-based HR software company, has jettisoned its Broker-of-Record (BOR) business after Washington Insurance Commissioner Mike Kreidler ordered the company to cease free distribution of its HR software, and has partnered with OneDigital Health and Benefits as first benefits brokerage partner. Zenefits, founded in 2014 by Parker Conrad, offered software that promised to streamline HR tasks for small businesses. While this was lauded at the time

Zenefits Insurance Services and co-founder and former CEO Parker Conrad will pay a combined $980,000 in fines after a settlement with the U.S. Securities and Exchange Commission (SEC), the latter said in October 2017. The SEC alleged Zenefits had misled investors when raising capital through private offerings, by making false statements about their compliance with state insurance laws, specifically whether its business and employees were licensed to sell insurance. The

Zenefits in October 2017 announced a major change in its strategy. It now intends to become the technology backbone for the employee benefits industry by linking carriers, brokers, companies, and employees with its Zenefits Certified Broker Partner Program and Zenefits Ben Connect. This will allow Zenefits to cooperate with brokers rather than compete against them. The Zenefits Broker Partner Program was launched with the announcement of a partnership with

Just days after hiring Jay Fulcher as CEO to replace David Sacks, the interim CEO who took over after former CEO Parker Conrad was ousted over a fraud investigation, Zenefits in February 2017 announced a third and largest round of layoffs in a year that saw the embattled company fined $7 million as part of a settlement with the state of California. The layoffs are part of a plan

Zenefits, designers of all-in-one HR solutions for small businesses, has appointed Jay Fulcher as executive officer and chairman of the board effective in February, 2017. Fulcher, who formerly served as president and CEO of Ooyala, as well as executive vice president of Peoplesoft, brings more than 20 years of senior management experience to Zenefits at a key time in its evolution. The announcement comes days after the company’s second