Keka, an HR-tech based out of Hyderabad, secured Series A funding of $57 million from WestBridge Capital.
Keka has championed the cause of HR practitioners at all levels by developing a highly innovative product that has been constantly shaped and optimised to meet the practical needs of the industry, all without securing any funding and remaining bootstrapped. According to a company statement, by the end of 2021, Keka will have been adopted by over 5500 companies.
Keka grew exponentially in just a few years after reaching its 100-customer milestone in 2017, surpassing $750K ARR in 2017 and achieving 7X sales growth in 2020. It had reached the 5500-customer mark by 2021.
“….. 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 Yalamanchili, CEO of Keka.
“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,” Vijay stated.
Expressing his confidence in the company, Rishit Desai, Principal at WestBridge Capital, said, “In a short period of time, Keka has emerged as India’s most trusted and innovative HR Tech platform. 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. We are very excited about Keka’s potential and look forward to a long partnership with the company”
Keka, founded in 2015 by Vijay Yalamanchilli, is India’s leading HR tech platform for SMEs with 20-5000 employees. The software enables HR teams to spend less time on routine tasks and more time on the most important asset of any organisation: its people. Keka makes it simple to streamline and automate payroll, recruiting, leave and attendance, performance management, and other tasks.
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