Puzzl Group
San Francisco, US · Founded 2019 · Delaware corporation · 2 known investors
Puzzl Group Inc., operating as Zeal, provides workforce payments and payroll infrastructure for W2 and 1099 payments and compliance.
Also known as Puzzl Group Inc. · Zeal
Founders & leadership
Puzzl Group was founded in 2019 by Pranab Krishnan and Kirti Shenoy.
Board
Investors · 2
Also in the syndicate · 1
Reported raises · per SEC filings
Form D private placements$28.3M disclosed across 2 of 4 rounds · 2021–2024
▶$14.5MraisedDec 2023 · 7 investors · Other TechnologyRule 506(b)
- Pranab KrishnanExecutive Officer, Director
- Kirti ShenoyExecutive Officer, Director, Promoter
- Natalie SandmanDirector
- Offering amount
- $15M
- Amount sold
- $14.5M
- First sale
- Nov 2023
- Incorporated
- Corporation, Delaware, 2019
- Federal exemptions
- 06b
▶$13.8MraisedJul 2021 · 26 investors · Other TechnologyRule 506(b)
- Pranab KrishnanExecutive Officer, Director
- Kirti ShenoyExecutive Officer, Director, Promoter
- Natalie SandmanDirector
- Offering amount
- $14.6M
- Amount sold
- $13.8M
- First sale
- Jun 2021
- Incorporated
- Corporation, Delaware, 2019
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Puzzl Group Inc. is the legal entity behind Zeal, a workforce payments company based at 80 Langton Street, San Francisco, California. The platform is designed for managing W2 and 1099 worker payments and related compliance at scale, spanning worker onboarding, payment execution and tax filings.
Zeal is positioned as payroll infrastructure that other companies can build on: TechCrunch's August 2021 coverage described it as a "build your own" payroll product infrastructure, with enterprises using Zeal to pay large volumes of workers while retaining payment data in their own native systems. Third-party listings classify the company under fintech, SaaS/cloud and software development, and associate it with Y Combinator (S19).
As of a July 2026 Seedtable profile, the company was listed at Series B stage with about $28.0 million in total funding, an estimated revenue range of $8M–$23M and roughly 45 employees.
Business model
Zeal sells payroll and workforce payments infrastructure to businesses, which embed or use it to onboard workers, run payments and handle tax filings while keeping payment data on their own native systems. Sources describe it as a B2B software/platform offering; specific pricing terms are not disclosed in the material available.
Traction
Seedtable lists roughly 45 employees, an estimated revenue range of $8M–$23M, and approximately $28.0 million in total funding as of July 2026.
Latest developments
The most recent funding event recorded in the sources is a $15 million Series B announced on 10 October 2024, led by Portage with participation from existing investors Spark Capital and Commerce Ventures. A Seedtable profile updated 28 July 2026 lists the company's status as active, with about 45 employees and Series B as the latest stage.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Third-party rankings place Zeal among San Francisco fintech startups (ranked #82 of 535 by Seedtable's score) and #51 of 793 in fintech overall, with a Seedtable Score of 65 as of July 2026.
Coverage of the company emphasizes that enterprises can use Zeal to pay large volumes of workers while keeping payment data on their own native systems, positioning the product as embeddable payroll infrastructure rather than a standalone payroll application.
Technology
A workforce payments platform automating payroll and compliance workflows — onboarding, payments and tax filings — with an architecture that allows enterprise customers to retain payment data in their own native systems.
Go-to-market
Employers and enterprises that pay large volumes of W2 and 1099 workers, including companies embedding payroll into their own products.
Geography
Headquartered in San Francisco, California, United States, with a listed business address at 80 Langton Street, San Francisco 94103.
History
The company was founded in 2019 and is associated with Y Combinator's S19 batch. It filed an SEC Form D in July 2021 reporting $13.8 million raised of a $14.6 million offering, and TechCrunch covered a $13 million Series A in August 2021. A further SEC filing in December 2023 reported $14.5 million raised of a $15 million offering. In October 2024 the company announced a $15 million Series B led by Portage with participation from existing investors Spark Capital and Commerce Ventures. Seedtable lists total funding of approximately $28.0 million and roughly 45 employees.
Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsRound led by investment platform Portage with participation from existing investors Spark Capital and Commerce Ventures; Vladimir Tenev listed as lead investor by Seedtable.
$15M source ↗
An initial SEC filing reported $14.5 million raised out of a $15 million offering, categorized as a venture round of unknown series.
$14.5M source ↗
An initial SEC filing reported $13.8 million raised out of a $14.6 million offering, categorized as a venture round of unknown series.
$13.8M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structure▸Research sources · 4
primary sources listed
- Puzzl Group $14.5 Million funding round 2023-12-13fundz.net · web
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Puzzl Group do?
- Puzzl Group Inc., operating as Zeal, provides workforce payments and payroll infrastructure for W2 and 1099 payments and compliance.
- Who founded Puzzl Group?
- Puzzl Group was founded by Pranab Krishnan, Kirti Shenoy in 2019.
- Who are Puzzl Group's investors?
- Puzzl Group's investors include Spark Capital.
- How much funding has Puzzl Group raised?
- Puzzl Group has disclosed $28.3M raised across 2 of its 4 known rounds.
- Where is Puzzl Group headquartered?
- Puzzl Group is headquartered in San Francisco, US.