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Zenefits' controversial former CEO gets $7 million for new start-up to rival his former company

Parker Conrad, CEO, Zenefits
Source: Zenefits
Parker Conrad, CEO, Zenefits

We now know more about the post-Zenefits plans of embattled tech founder Parker Conrad, the Wall Street Journal reported on Tuesday.

Conrad has raised $7 million for his new staffing start-up, Rippling, investors familiar with the details told the Journal. (Some earlier details about the company were reported last year.) Conrad is best known for his leadership of human resources start-up Zenefits, which endured scandal under his watch. Conrad resigned from Zenefits last year, after regulators accused the company of enabling unlicensed brokers to sell insurance.

Rippling helps start-ups with staff onboarding, providing new employees with laptops, offer letters, tax forms, email accounts, and keycard access, the Journal reported. The start-up could eventually become a "system of record" for employee data, Conrad told the Journal. Rippling's basic service costs $8 per employee a month, according to the Journal.

Rippling will benefit from lessons learned at Zenefits, and will have proper management oversight, Conrad told the Journal.

For more on Conrad's new gig, see the full article at WSJ.com