Hyderabad-based HR tech company, Keka has received a series A funding of $57 million (approximately Rs 463 crore) from WestBridge Capital.
The Company which has been bootstrapping till now was launched by Vijay Yalamanchili in 2016. It claims to be generating the payrolls of more than 1.5 million employees of its 5,500 odd clients, every month.
An enthused Yalamanchili says in an official blog, “This is not just about securing funding; it is also a validation of our ideas and approach in a world where many funded businesses are struggling to survive.”
Yalamanchili believes the Company has secured funding at the most apt time. Keka is said to have declined several investment offers in the past.
“R&D will be a primary area of our focus as we expand our engineering, product, and customer success teams,” he adds.
Rishit Desai, principal, WestBridge Capital, says in the official communique, “In a short period of time, Keka has emerged as India’s most trusted and innovative HR Tech platform.
Keka entered the market in 2016, and it claims that within a year, it acquired 100 customers. In 2018, the company revamped the product based on the learnings from the initial success.
Despite being bootstrapped all this while, we managed to thrive in the market, thanks to our employees and customers,” said Vijay Yalamanchili, CEO of Keka.
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