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After a steady stream of successes, whereas staying bootstrapped, Keka has lastly secured funding because it embarks on a brand new journey.
The corporate secured a historic $57 million from WestBridge Capital, making it India’s largest Collection A SaaS funding.
Launched in 2016 by Vijay Yalamanchili, Keka challenged the established order within the HR tech house. Watch Keka’s Journey.
Dealing with robust odds, it emerged victorious, beating many established and funded gamers out there.
It not solely championed HR as a perform, but in addition took up the mantle of redefining worker expertise via its automation-driven HRMS platform.
Inside a yr, Keka had received its first 100 prospects; by 2021, it reached the 5500-customer landmark, and at this time, it generates the payroll of greater than 1.5 million workers each month.
For a corporation that reached its 100-customer milestone in 2017, Keka grew exponentially in simply a few years, crossing the $750K ARR in 2017 and reaching a 7X gross sales progress in 2020. By 2021, it had crossed the 5500-customer landmark.
“Enterprise at this time means serving each prospects and workers.”
Whereas there have been loads of instruments to cowl the client expertise, worker expertise has taken a again seat.
Companies can not afford to do this.
We need to assist organizations focus higher on their core asset – the staff.
Regardless of being bootstrapped all this whereas, we managed to thrive out there, due to our workers and prospects.” stated Vijay Yalamanchili, CEO of Keka.
“I imagine we raised funding on the proper time.
We’ve been the fastest-growing HR tech chief in our house.
Though we acquired a number of provides for funding previously, we by no means felt the timing was proper.
Discovering the proper funding companion was additionally crucial for us.
We wished to companion with somebody who had a long-term imaginative and prescient for the HR tech house.
I’m glad that we discovered the proper investing companion in WestBridge Capital.
This isn’t nearly securing funding; it is usually a validation of our concepts and strategy in a world the place many funded companies are struggling to outlive.” He added.
Expressing his confidence within the firm, Rishit Desai, Principal at WestBridge Capital, stated, “In a brief time frame, Keka has emerged as India’s most trusted and progressive HR Tech platform.
Keka is disrupting the business via its world-class product and extremely dependable buyer help.
We’re aligned with their imaginative and prescient to construct the perfect mid-market centered international HR Tech Platform that may permit firms around the globe to modernize their HR processes.
We’re very enthusiastic about Keka’s potential and stay up for an extended partnership with the corporate.”
With this historic funding, Keka has skilled its sights on augmenting and constructing a world-class product inside India.
It additionally goals to additional improve its choices and bolster buyer help.
“As we advance, R&D shall be a main space of our focus as we broaden our engineering, product, and buyer success groups,”
Vijay stated whereas discussing Keka’s plans for the longer term.
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