HR tech platform Keka HR has acquired$ 1.6 Mn funding which amounts to about 12 crores INR. The round was led by Recur Club, a subscription based financial services platform.
Commenting on the funding, Keka HR CEO Vijay Yalamanchili said that the promise of a subscription-based financing that doesn't dilute equity was a no brainer.
Vijay added, “Non-dilutive funding will become the norm for bootstrapped SaaS companies the world over! SaaS founders should focus on building Awesome experiences and not run after investment rounds. Most importantly, we were able to raise funds without any collateral which generally makes it impossible for entrepreneurs to raise any money in early stages."
Earlier in August, Keka HR announced that it would hire 200 new employees. The company announced that apart from tech-related roles, several non-tech jobs will be filled up, including across different departments like product, customer success, sales, HR and more. The approximate number of hires to be made till FY 2022 in different categories are as follows-Sales- 40, Tech- 60, Customer Service- 60, and Other departments- 40.