News: SaaS startup Klaar raises $800k led by Veda VC

Funding & Investment

SaaS startup Klaar raises $800k led by Veda VC

The company plans to use the capital to enhance the platform and grow the sales team, reaching a broader global customer base.
SaaS startup Klaar raises $800k led by Veda VC

HR technology platform Klaar has secured $800,000 in Seed funding. This investment, led by Veda VC, with participation from DeVC, Kube VC, and HR stalwarts including Prabir Jha, Saurabh Nigam, Nimesh Mathur, Sumit Neogi, and Akshay Kejriwal, among others, marks a significant milestone for the company. 

This capital will be used to significantly strengthen the platform and expand the sales team to widen the customer base globally, according to a statement.

Klaar's mission is to empower people teams to foster a seamless culture of high performance, engagement, and continuous development. Unlike traditional HR tech solutions, “Klaar takes a ground-up approach, reimagining how essential processes such as performance management, employee feedback, 1:1s, and mentoring can be seamlessly integrated into daily workflows and with each other”. 

Klaar aims to streamline HR processes by automating and shortening tasks like 360 Nomination from four weeks to two hours, reducing administrative burdens.

The platform is used by Fortune 500 enterprises, unicorns, and startups spanning over ten industries, including Philips, ITC, Godrej, Urban Company, Razorpay, Gameskraft and Lead School.

The enterprise HR Tech Industry is expected to touch $445 billion mark by 2031, but the “current model for performance and talent management is broken, siloed, and does not empower people teams to actually achieve meaningful outcomes”. Most HR professionals have a difficult time getting people to even use the existing clunky platforms. To add to that, most organisations have to adapt to the limitations of the platform instead of the platform adapting to the organisation’s processes. Klaar is on a mission to bridge these gaps.

Founded in 2022, B2B SaaS startup Klaar is the brainchild of XLRI, Jamshedpur batchmates Sharthok Chakraborty and Atri Roy.

Avijeet Alagathi, Managing Partner at Veda VC, an early-stage VC Fund, said: “With the constant evolution of people’s roles and how work is done today, there is a massive gap, globally, in tools which can enable people to perform better. Sharthok and Atri have a very deep understanding of the problem and have built globally scalable - enterprise-ready solutions loved by customers across domains and geographies.”

Atri Roy, co-founder added, “Our customers continue to be our biggest advocates. And that’s only possible because we continue to build with continuous customer feedback. The HR tech of the future - what Klaar is aiming to be - needs to balance customizability, complexity, and usability in the product. This fine balance has been our biggest strength in the product and I think it reflects in our customers' feedback.”

Klaar is currently working with enterprises, unicorns, and high-growth startups in India to help them build a culture of high performance while reducing administrative work for the HR teams. The company plans to set up new offices in the US this year.

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Topics: Funding & Investment, #HRTech

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