With an unprecedented $57 million, Keka secures India’s largest Series A SaaS funding
The highest Series A SaaS funding in India has been secured by Hyderabad-based Keka, a leader in HR technology, with a staggering $57 million from WestBridge Capital.
Keka entered the HR technology market in 2016 as a bootstrapped business. It not only prevailed when pitted against well-funded Goliaths, but it also made a name for itself as a leader in the SME sector.
Keka has developed a highly unique solution that has been continuously sculpted and adjusted to suit the practical requirements of the industry, all while remaining bootstrapped and championing the cause of HR practitioners at all levels. Keka had been adopted by more than 5500 companies by the end of 2021.
Keka secures India’s largest SaaS Funding
For a business that hit the 100-customer milestone in 2017, Keka expanded rapidly in only a short time.
“I think we raised money at the appropriate moment. In our industry, we have been the HR tech leader with the quickest growth. Despite receiving numerous investment offers in the past, we never thought the time was right. Finding the ideal investment partner was crucial for us as well. We sought a partner with a long-term outlook for the HR IT market. With WestBridge Capital, we have the ideal investing partner, which makes me delighted. In a world where many funded businesses are fighting for survival, it is not only about receiving funding; it is also a validation of our ideas and strategy, he noted.
Telugu’s word for great, Keka, is what the company wants to stand for when it comes to empowering the HR department and the employee experience. Vijay and his team have already started taking action to expand the product, improve their offers, and strengthen customer support after securing the unprecedented funding.
“We aim to create a top-notch product in India that would serve the international market. As our technical, product, and customer success teams grow, R&D will be our main area of focus, according to Vijay.
Vijay Yalamanchilli established Keka, the top HR IT platform in India for SMEs with 20–5000 employees, in 2015. Keka was founded with the goal of improving the employee experience by doing away with cumbersome interfaces and providing straightforward software solutions. The business began with a staff of five and grew to include more than 550 outstanding employees.
Keka has all the tools organisations require to transform from a good to a great company, from automating people operations to fostering an enthusiastic and motivated culture. The programme aids HR teams in devoting less time to tedious activities and more time to the most important resource of any business: its employees. Payroll, hiring, leave and attendance, performance management, and other processes are easily streamlined and automated using Keka. It left an irreversible mark.