Cloud-based payroll software provider ZenPayroll has cobbled together $60 million in a series B funding round led by Google Capital. The latest round, which also saw participation from Emergence Capital Partners, Ribbit Capital, General Catalyst and Kleiner Perkin, brings its total funding to $86.1 million.

ZenPayroll has made some big strides since its launch just two years ago. The startup, which aims to reduce the stress and eliminate errors in the thankless task of organizing payrolls, claims some 10,000 small business users across the U.S., and is now valued at some $560 million, according to TechCrunch.

For those unfamiliar with ZenPayroll, it’s essentially like a Google Apps for those who process payrolls. One of the biggest draws is its ease of use. An employer can rapidly input new employees into the system. ZenPayroll’s software helps by providing job title templates and other tools to rapidly build out new employees.

When a new hire is first on-boarded, they will need to setup the personal details of their employee profile such as their tax and direct deposit information. This information is securely stored in the cloud. Companies who have a bonus payment for employees can easily select an employee and enter the bonus amount to be directly deposited into their account.

Admittedly it’s not the most exciting industry, but it’s certainly an important one, and ZenPayroll with its automated, easy-to-use cloud tools is proving to be a viable alternative to the traditional payroll services provided by ADP and Ceridian. Another big advantage is that ZenPayroll is also very cheap – small businesses are charged a flat fee of just $25 a month, plus $4 per employee.

Now, with its new infusion of cash, ZenPayroll wants to target more than just small businesses – it’s setting its sights firmly on the enterprise, according to its CEO and co-founder Joshua Reeves.

“We are also building features and functionality that will make ZenPayroll a better fit for larger businesses, as we have ambitions to help all businesses everywhere, regardless of size,” Reeves told TechCrunch.

It’s a bold ambition, but also one that could be hugely profitable, for the payroll-processing industry is believed to be worth some $29 billion a year.

To fulfill these ambitions, ZenPayroll is planning to expand from its current 60 employees to 300 by the end of this year. The company will be hiring talent across the board in its business development, customer care, engineering, marketing, product design and sales departments.

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