I read that Google Capital rather than Google Ventures lead the round. Could someone explain to me how these two bodies differ and what the significance would be?
Google Capital and Google Ventures are two different investments arms of Google. Google Ventures focuses a lot more on early stage companies (and makes many investments throughout the year), while Google Capital focus on later, growth stage companies. Google Capital tends to only do a few large investments each year. In ZenPayroll's case, we were honored to have strong interest from both GCap and GV, so they both invested, with GCap leading.
Ah thanks for the insight. I know that GV is a separate entity from Google proper with a chinese wall in place between the corporate mothership and itself. Is this the case with GC as well?