HR tech platform Keka has raised $57 million from WestBridge Capital. It is India’s largest Series A SaaS funding so far, CEO of the Hyderabad-based startup Vijay Yalamanchili said on Wednesday. During a release, he said that the company has already taken steps to strengthen product, magnify offerings and gain customer support.
He said, “We want to create a world-class product in India that will cater to the global market. Research and development are going to be our primary area of focus as we expand our engineering, product and customer teams.”
Launched in 2016 as a company which emerged from existing resources, Keka crossed the 5,500-customer mark in 2021.
The CEO further added, “Although we got offers for funding within the past, never felt the timing was right. Finding the proper investment partner was also significant… wanted to partner with someone with a long-term vision for the HR tech space, he said, while describing WestBridge Capital because the right investing partner. Moreover, it had been not just about securing funding, but also a validation of the startup’s ideas and approach during a world where many funded businesses are struggling to survive.”
Rishit Desai, principal at WestBridge Capital, said, “We are aligned with their vision to create the best mid-market focused global HR Tech platform that will allow companies around the world to modernise their HR processes… are excited about Keka’s potential and appearance forward to a long partnership.”
The company executives also said that it had smoothened and automated payroll, recruitment, leave and attendance, performance management and constitutes a headcount of more than 550 people. It has customers across various sectors, including pharmaceuticals, IT services, professional service organisations, accounting, manufacturing, fin-tech and taxation.