HR tech start-up Keka raises $57 mn in series A funding by WestBridge

The company helps businesses by automating payroll, recruiting, performance management

Keka, an HR technology start-up based in Hyderabad, has raised $57 million dollars in series A funding led by WestBridge Capital.

It is the largest enterprise tech series A funding round in India, edging out the previous top spot by $1 million.

The investment will help the company in research and development as it expands its engineering, product, and customer support teams and improves its product.

Keka assists Indian SMEs with 20 to 5,000 employees and streamlines and automates payroll, recruiting, leave and attendance, performance management, and more.

“Business today means serving both customers and employees. While there have been plenty of tools to cover the customer experience, employee experience has taken a back seat. Businesses can no longer afford to do that. We want to help organizations focus better on their core asset – the employees,” said Vijay Yalamanchili, chief executive officer of Keka.

“Although we got several offers for funding in the past, we never felt the timing was right. Finding the right investment partner was also significant for us. We wanted to partner with someone with a long-term vision for the HR tech space. I am happy that we found the right investing partner in WestBridge Capital,” he added.

The company said it has more than 6,500 customers across sectors and enables the management of over 1.5 million employees a month.

“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,” said Rishit Desai, Principal at WestBridge Capital.