Keka, an HR tech chief based mostly out of Hyderabad, has secured India’s largest Sequence A SaaS funding with a whopping $57 million from WestBridge Capital.
Launched in 2016, Keka entered the HR tech area as a bootstrapped firm. Pitted towards well-funded Goliaths, it not solely emerged victorious but additionally established itself as a frontrunner within the SME section.
Championing the reason for HR practitioners in any respect ranges, Keka has constructed a extremely progressive product that was regularly formed and optimized to go well with the sensible necessities of the trade, all with out securing any funding and staying bootstrapped. By the top of 2021, Keka was embraced by greater than 5500 corporations.
For a company that reached its 100-customer milestone in 2017, Keka grew exponentially in simply a few years, crossing the $750K ARR in 2017 and attaining a 7X gross sales development in 2020. By 2021, it had crossed the 5500-customer landmark.
“Enterprise as we speak means serving each clients and workers. Whereas there have been loads of instruments to cowl the client expertise, worker expertise has taken a again seat. Companies can now not afford to try this. We need to assist organizations focus higher on their core asset – the workers. Regardless of being bootstrapped all this whereas, we managed to thrive available in the market, due to our workers and clients,” mentioned Vijay Yalamanchili, CEO of Keka.
“I consider we raised funding on the proper time. We have now been the fastest-growing HR tech chief in our area. Though we received a number of presents for funding up to now, we by no means felt the timing was proper. Discovering the proper funding accomplice was additionally important for us. We wished to accomplice with somebody with a long-term imaginative and prescient for the HR tech area. I’m comfortable that we discovered the proper investing accomplice in WestBridge Capital. It isn’t nearly securing funding; it’s also a validation of our concepts and strategy in a world the place many funded companies are struggling to outlive,” he added.
Expressing his confidence within the firm, Rishit Desai, Principal at WestBridge Capital, mentioned, “In a brief time frame, Keka has emerged as India’s most trusted and progressive HR Tech platform. Keka is disrupting the trade by means of its world-class product and extremely dependable buyer help. We’re aligned with their imaginative and prescient to construct one of the best mid-market-focused international HR Tech Platform that can permit corporations around the globe to modernize their HR processes. We’re very enthusiastic about Keka’s potential and stay up for an extended partnership with the corporate.”
‘Keka’ means ‘superior’ in Telugu, one thing the corporate seeks to represent with regards to the empowerment of the HR perform and worker expertise. Having secured the historic funding, Vijay and his crew have already taken steps to reinforce the product, improve their choices, and bolster buyer help. “We need to construct a world-class product right here in India that can cater to the worldwide market. As we advance, R&D shall be our main space of focus as we develop our engineering, product, and buyer success groups,” Vijay said.
About Keka:
Based by Vijay Yalamanchilli in 2015, Keka is the main HR tech platform in India for SMEs with 20-5000 workers. Keka was incepted with a mission to create an superior worker expertise by dumping clunky interfaces and providing simple and easy software program options. The corporate began as a squad of 5 and ascended to develop into a stellar crew of 550+. From automation of individuals processes to creating an engaged and pushed tradition, Keka has every thing companies have to construct a good-to-great firm. The software program helps HR groups spend much less time on mundane duties and focus extra on the very important belongings of any group: the folks. Keka streamlines and automates payroll, recruiting, depart and attendance, efficiency administration, and extra with ease. It has left an indelible mark with a attain of 6500+ clients throughout varied sectors, together with IT companies, prescribed drugs, manufacturing, skilled service organizations, accounting, taxation, fin-tech, and others. It presently runs the payroll of 1.5M+ workers month-to-month.
(Above talked about article is a Shopper join initiative, This text doesn’t have journalistic/editorial involvement of IDPL, and IDPL claims no duty in any way.)
