Indian HR tech platform Keka raises $57m in Series A funding round
Keka, a Hyderabad, India-based HR tech platform, has raised $57 million (INR 465 crores) in a Series A funding round from WestBridge Capital, a UK-based capital market company, marking the largest Series A SaaS funding in India.
The HR tech start-up will use the proceeds to scale research and development and improve engineering, product, and customer support.
Launched in 2016, Keka platform streamlines and automates payroll, leave and attendance, recruiting, performance management across verticals, including IT services, accounting, fin-tech, taxation, pharmaceuticals, and manufacturing.
Vijay Yalamanchili — Keka founder and CEO, commenting on Keka Series A round, said: “Business today means serving both customers and employees.
“While there have been plenty of tools to cover the customer experience, employee experience has taken a back seat.
“Businesses can no longer afford to do that.
“We want to help organisations focus better on their core asset – the employees.”
Keka is said to have more than 5,500 customer companies and produces payroll of over 1.5 million employees every month.
Commenting on Keka Series A round, Rishit Desai — Westbridge Capital principal said: “Keka is disrupting the industry through its world-class product and highly reliable customer support.
“We are aligned with their vision to build the best mid-market focused global HR Tech Platform that will allow companies around the world to modernize their HR processes.”
In late 2021, Keka picked up $1.6 million in the form of non-dilutive growth capital from a subscription-based financing platform Recur Club.