Zenefits wants to cut out the insurance industry middleman. Investors see opportunity. Utah sees a threat. Parker Conrad wants to do the same thing to health insurance. Insurance brokers, the middlemen of the $884 billion insurance industry, charge a hefty fee for connecting individuals and businesses with the insurance providers. Eighteen months in, Zenefits has 2000 paying clients and 450 employees. A June funding round worth $66 million valued the young company at $500 million. Zenefits’ software helps small businesses manage all of their human resources functions in one place, such as health insurance, payroll, retirement funds and equity grants. Zenefits is on track to double its entire revenue in the last four months of this year; monthly revenue is slated to be 20 times higher than last year’s.

http://fortune.com/tag/zenefits/