Keka, an India-based HR and payroll software, raised $57 million in Series A funding from WestBridge Capital.
It is India's largest series A SaaS funding, having secured the historic financing. Keka has already taken steps to augment the product, enhance its offerings, and bolster customer support.
The primary focus of Keka is to invest in R&D and expand its engineering, product, and customer success teams.
"We want to build a world-class product here in India that will cater to the global market. As we advance, R&D will be our primary area of focus as we expand our engineering, product, and customer success teams,” he said. "I believe we raised funding at the right time. Finding the right investment partner was also significant for us. We wanted to partner with someone with a long-term vision for the HR tech space. I am happy that we found the right investing partner in WestBridge Capital. This is not just about securing funding; it is also a validation of our ideas and approach in a world where many funded businesses are struggling to survive," said Vijay Yalamanchilli, founder and CEO of Keka.
Keka, which means 'awesome' in Telugu, is an HR tech platform in India for SMEs with 20–5000 employees. Its software streamlines and automates payroll, recruiting, leave and attendance, performance management, and more with ease.
Company: Keka Inc.
Raised: $57.0M
Round: Series A
Funding Month: November 2022
Lead Investors: WestBridge Capital
Additional Investors:
Company Website: https://www.keka.com/
Software Category: HR and Payroll Software
About the Company: Founded by Vijay Yalamanchilli in 2015, Keka entered the HR tech space as a bootstrapped company. Keka is a B2B SaaS platform. It is a modern HR and payroll software for small and medium businesses with a wide range of features like time tracking on internal & external projects, attendance management, leave management, payroll management, performance, etc. Keka automates all HR tasks with a single button and improves overall business productivity. Keka reached its 100-customer milestone in 2017 and grew exponentially in just a couple of years. It is on a mission to create awesome employee experiences.
Source: https://www.peoplematters.in/news/funding-investment/hr-tech-startup-keka-raises-whopping-57-million-in-series-a-funding-from-westbridge-capital-35979