Westbridge Capital has invested USD 57 million in the HR-tech startup Keka. According to the Hyderabad-based startup, this is the highest series-A funding in the funding market for software as a service (SaaS).
The startup, which was founded in 2016 and provides services to over 5,500 small businesses, was initially bootstrapped. Telugu’s word for fantastic is keka. Vijay Yalamanchili, the founder and CEO of Keka, credited the company’s success to its workers, clients, and innovative products. According to Yalamanchili, the funds would be used to create a top-notch product for the international market.
The company secured a historic $57 million from WestBridge Capital, making it India’s largest Series A SaaS funding.
Commenting on the funding said Vijay Yalamanchili, CEO of Keka, said ” 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. Despite being bootstrapped all this while, we managed to thrive in the market, thanks to our employees and customers.”
Expressing his confidence in the company, Rishit Desai, Principal at WestBridge Capital, said, “In a short period of time, Keka has emerged as India’s most trusted and innovative HR Tech platform. 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.”