News: HerKey (formerly JobsForHer) raises $4 million funding from Kalaari, 360 ONE Asset

Diversity

HerKey (formerly JobsForHer) raises $4 million funding from Kalaari, 360 ONE Asset

Companies use the HerKey platform to engage with women candidates in their entire career lifecycle, from recruitment to retention to promotion.
HerKey (formerly JobsForHer) raises $4 million funding from Kalaari, 360 ONE Asset

Career engagement platform for women, HerKey (formerly JobsForHer), has raised $4 million in funding from Kalaari Capital, 360 ONE Asset (formerly IIFL Asset Management), and a group of angel investors that includes Zia Mody, Puneet Dalmia, Pramit Jhaveri, Aditi & Shuchi Kothari, KP Balaraj, Ranjan Pai, Neeraj Bajaj, and Akash Bhansali.

Neha Bagaria, the Founder and CEO of HerKey, expressed gratitude to their valued investors for their support in their mission to establish a more inclusive and diverse workforce for women in India. "We need to create a movement where everyone, including men, supports and champions women's careers. By working together, we can create a more inclusive and equitable workforce, which will benefit all,” she added.

HerKey seeks to address the gender gap in the Indian workforce, where only 20 per cent of women participate in the labour force, compared to 60 per cent in China and 55 per cent in the United States. The company started by enabling women to restart their careers after a break, and it has grown to enable women to start, restart and rise in their careers.

Companies use the HerKey platform to engage with women candidates in their entire career lifecycle, from recruitment to retention to promotion. Currently, there are over 10,000 companies on the platform.

Vani Kola, Founder and Managing Director of Kalaari Capital, said a crucial aspect of India’s economic ascent in the coming decade will be increasing participation of women in the workforce. 

“A digital platform like Herkey is the need of the hour to make progress towards this goal. HerKey helps women exchange diverse knowledge, perspectives and enables them to interact without being constrained by time and location. Neha, as founder and CEO, has done a stellar job in creating pathways for many women to come back into the workforce after a break. We have been impressed by HerKey’s growth trajectory and look forward to partnering with them as they redefine the landscape of women's careers in India,” said Kola.

The investment was backed by Kalaari Capital through its CXXO programme that seeks to build a vibrant community of women leaders to champion the next generation of women founder-CEOs for inclusive growth and opportunities to reach the top.

“We are thrilled to collaborate with Neha and her team in their efforts to establish a platform that enables women to excel and realize their maximum potential. On average 80 per cent women on a career break look forward to coming back into the workforce and we are delighted to participate in this endeavour to empower women and promote a more inclusive and equitable society,” said Nidhi Ghuman, Senior EVP, 360 ONE Asset, earlier known as IIFL Asset Management.

HerKey claims to have grown to service over 3.5 million women across India and plans to scale to power 30 million women's careers in India, the company said in a statement.

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Topics: Diversity, Funding & Investment, #Jobs, #Hiring, #Career

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