HR-tech platform Keka has garnered USD 57 million funding from Westbridge Capital. The Hyderabad-based startup said the funding is the largest series-A funding in the software-as-a-service (SaaS) funding space.
Launched in 2016, the startup began as a bootstrapped firm and serves over 5,500 small companies. Keka means ‘awesome’ in Telugu. The company managed to thrive, thanks to its employees and customers and innovative products, said Vijay Yalamanchili, the founder and chief executive of Keka. Yalamanchili said the money will be used to build a world-class product that will cater to the global market.
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Going forward, research and development (R&D) will be the primary area of focus. Rishit Desai, a principal at Westbridge said Keka is disrupting the HR industry through its products and reliable customer support. Keka claims to offer everything that a business needs to build a good-to-great company and its software helps HR teams spend less time on mundane tasks and focus more on the vital assets of any organization: the people. Keka streamlines and automates payrolls, recruiting, leaves and attendance, performance management, and more with ease.
Its customers come from across the sectors such as IT services, pharma, manufacturing, professional services, accounting, taxation, and fintechs among others and currently runs the payrolls of over 1.5 million employees monthly.