Indian-based HR tech startup, Keka has raised $57 million in a series A funding from WestBridge Capital to grow its team and accelerate its growth.
- Founded in 2015 by Vijay Yalamanchili, Keka provides HR-related solutions that aim to streamline and automate payroll, recruiting, leave and attendance, performance management, and more.
- Last year, Keka claimed it had more than 5,500 customers on its platform, with some of its prominent clients being upGrad, RazorPay, Dream11, and Hitachi, among others. In a press release, the startup says it currently facilitates the payroll of more than 1.5 million employees every month.
- This financing is coming on the back of a $1.6 million growth capital it raised from Recur Club months ago. Following the latest round, the startup plans to invest in research and development and expand engineering, product, and customer teams.
- Keka is looking to tap into India’s booming HR tech market, which was valued at $23.32 billion in 2021. The market is poised to hit $38.36 billion by 2030, according to this report.
- Unsurprisingly, there is a rising interest in investors as well. According to an estimate, HR-tech startups have secured over $600 million in investments since 2020.