Keka to utilise $57 million Series A fundraise for product improvement, business expansion
Keka, streamlines and automates payroll, recruiting as well as leave and attendance. It works with over 6,500 customers, and runs the payroll of 1.5 million employees monthly.
Keka, an HR tech based out of Hyderabad recently secured $57 million of funding from Westbridge Capital. This is the largest series A SaaS funding for a startup in India.Jan 06, 2023 IST4 Min(s) ReadJan 06, 2023 IST4 Min(s) ReadJan 06, 2023 IST3 Min(s) ReadJan 06, 2023 IST2 Min(s) ReadSpeaking to CNBC-TV18, Vijay Yalamanchili, founder and CEO, said the company will be utilising the fundraising for product improvement and business expansion in South East Asia and other western countries.'We want to focus on building and improving the product for existing customers. There is so much to be built in terms of talent acquisition, performance management, talent management, up-skilling, and other areas.
So these are the areas where we would like to invest in the product. We also are utilising the funds for expanding into other geographies which includes South East Asia and other western countries as well," Yalamanchili said.Also Read: Amazon India to lay off 1% workforce, over 1000 employees to be impactedThe platform streamlines and automates payroll, recruiting as well as leave and attendance. It works with over 6,500 customers and runs a payroll of 1.5 million employees monthly.Vijay added that the company expects overseas market revenues to be more than 60 percent of the company's growth over the next five years.Yalamanchili said, 'About 20 percent of our new revenue is going to come from the overseas market as this is just the first year after launching.
However, in the next 5 years, overseas market revenue is going to be more than 60 percent of our growth.'Watch the video for more.