Keka: Case Study, Company Profile, Founding Team, and Many More

Introduction:

The world is changing and will proceed to change. Keka HR encourages more proficient cooperation, permitting your teams to develop, change, and adjust. Spend more time strategizing and less time on modest obligations. Make superior choices with information, and plan locks-in encounters for your staff. Here, we are talking about Keka: Case Study, Company Profile, Founding Team, and Many More.

Company Highlights:

Keka – About:

Keka is a business that specializes in offering payroll and HR software solutions. Payroll automation, performance evaluations, time and attendance management, hiring and onboarding, and project profitability management are just a few of the organization’s services. It mainly services the manufacturing and pharmaceutical industries, banking and financial services, retail, and technology. Its headquarters are in Hyderabad, India, created in 2015.

Industry:

Keka is HR software that helps small and medium-sized businesses with payroll, hiring, attendance and leave, performance management, and other duties. Keka HRMS is more than simply an HR program. This all-inclusive cloud-based HR solution uses data and insights to create seamless employee experiences. It is HR software that helps small and medium-sized businesses with payroll, hiring, attendance and leave, performance management, and other duties. Keka HRMS is more than simply an HR program. This all-inclusive cloud-based HR solution uses data and insights to create seamless employee experiences. It provides B2B SaaS services.

Founder and Team:

Keka is a Hyderabad-based company that Vijay Yalamanchili created in 2015. The business also maintains offices in Seattle, Washington, and Singapore.

Startup Story:

Keka did not have an easy voyage on it’s own. It was up against well-established and financially supported organizations. It developed innovative techniques to create, manage, and retain its employees most efficiently in the crowded and fiercely competitive HRMS industry. Vijay said, “To become the HR IT leader and retain that narrative in the market, we had to be inventive and work considerably harder.”

It’s story began in 2015 when Vijay Yalamanchili searched for the ideal HR solution to help him expand his software services company. They built Keka, a real employee experience platform, as a solution since they were dissatisfied with the solutions’ cumbersome interfaces and poor user experience. Their goal was to make it easy for any business to grow from excellent to great by assisting HR practitioners in concentrating on their most valuable resource—its people.

The founders realized they could grow if they could successfully address the gaps in the HR IT industry around good product uptake and user experience. “This was a really important step since HR professionals who began using Keka could do more in less time and considered it straightforward. Thus, if they changed companies, they would likewise implement Keka HR there and recommend their friends.” One of the main causes of Keka’s organic growth was this advocacy.

Mission and Vision:

Keka aims to provide digital workplaces where workers may perform at their highest level and feel protected. Excellence, Integrity, Understanding, Responsibility, and Unity are their key principles.

Name, Tagline, and Logo:

“Together We Triumph” is Keka’s motto, and “Success resides in Collaboration, Progress inside Innovation” is their guiding concept.

Business Model:

• Payroll Software: The Indian payroll sector was completely transformed by Keka Payroll Software. We reinvented and established a standard for simplifying an enterprise payroll administration system.
• HR Software: Keka HR software is made with your employees’ happiness in mind. With the help of hooks and data insights, our employee-focused user experience always piques your employees’ interest and encourages them to utilize the platform.
• Performance Management Software: For growth-oriented enterprises that require ongoing, real-time performance assessments, it is the performance appraisal software that truly works. To ensure that objectives are met and the intended return on investment is realized, Keka performance management software keeps tabs on, examines, reports, and assesses worker performance.
• Using recruiting management software: Selecting a candidate is a difficult process. Keka is, therefore, outfitted with all the features and tools necessary to improve the efficiency and sophistication of your hiring process.
• Timesheet management software: Keka Timesheet assists you in keeping track of project hours while distinguishing between chargeable and non-billable resources for your services company. It makes resource allocation easier by allowing you to gauge how often your professional personnel is used.
• Attendance Management System: The only attendance management system in India, Keka, incorporates all aspects of timekeeping, including scheduling shifts, recording overtime, and capturing time anywhere. It is also completely connected with payroll.

Revenue Model:

Keka, an HRtech company, had a 116 percent increase in total revenue from Rs 25 crore in FY22 to Rs 54 crore in FY23. Leading HRMS supplier Keka in Hyderabad has intensified its expansion plan to increase income. Their projected Annual Recurring Revenue (ARR) is $14 million, a 110 percent increase from the prior fiscal year. This year, the organization hopes to add over 2500 new clients.

Products and Services:

Keka Technologies is a cloud-based payroll and HR software development firm. It provides application tracking, workflow reviews, employee goal management, attendance management, applicant feedback and performance reviews, applicant monitoring, talent management, and more.

Funding and Investors:

• Throughout two investment rounds, It has raised a total of $58.6M. In 2022, WestBridge Capital provided $57 million in Series A capital, the most recent round. It’s worth $118 million, according to Tracxn.
• WestBridge Capital, Recur, and 99SA are three institutional investors in Keka.
• Regarding institutional investors in Keka, WestBridge Capital is the biggest.
• It’s angel investors include Ovl Kiran Kumar and two more.

Employees:

It employed 717 employees as of June 23.

Challenges Faced:

Here are some challenges that Keka has faced:

• Transferring data to a new platform is known as data migration.
• Obtaining documents as needed through document retrieval
• The lack of room for document storage is known as the “space crunch.”
• Monitoring attendance: Workers frequently worry about monitoring attendance and managing leaves of absence.
• Late arrivals: It might be challenging and prone to inaccuracy to calculate late arrivals manually.
• Remote work: Getting permission for both remote work and leave can be difficult.
• Management of leaves: Keeping track of people’s whereabouts manually might get harder as a business expands, making absence more likely to go unreported.
• Software: The core team has dealt with the difficulties posed by the market’s inadequate software.

Acquisitions:

No acquisition has been made yet.

Growth:

Keka HR could be expanding because it is on the list of businesses that Recur Club has funded, a sign of a potential money infusion for growth and development. Keka HR is cited in the same breath as prominent industry giants like Microsoft and SAP SE, indicating a competitive position in the HR technology market. The company’s payroll software is also included in market research publications, suggesting recognition and possible market share in the performance management software industry. Additionally, It claimed to have over 6,500 clients in various industries, including manufacturing, accounting, fintech, taxes, IT services, pharmaceuticals, and professional service organizations.

Partners:

It has several partners, including:

• Xoxoday: Keka and Xoxoday are partnering to close worker well-being and engagement gaps.
• EarlySalary: It’s financial wellness partner, EarlySalary, offers instant salary loans.
• Catalyst: This company offers corporate services and solutions, including Keka.
• Reseller partners: Gautam Ghosh, Kunjal Kamdar, and Sonica-Aron are some of Keka’s reseller partners.

Competitors:

It’s main rivals include Workday, Deel, and Kronos.

Awards and Achievements:

It is an HRMS solutions company that has received several awards and achievements:

• It was the 2015 HYSEA Hottest Startups Award winner.
• 2019: It was named one of the top HRMS options by SoftwareSuggest.
• 2020: It was named the best software in the HR and payroll area by the World HRD Congress.
• Keka has more than 5,500 customers in 2021.

Future Plan:

• Keka, a Hyderabad, India-based provider of employee payroll solutions and HR software, has the following future goals in mind:
• Growth: Over the next several years, it intends to grow into several international markets, including the US, Asia Pacific, and Europe.
• Client service: It wants to improve both its services and customer assistance.
• Product development: In India, Keka is creating products of the highest caliber.
• Experience of employees: Keka is formulating a plan to provide an employee experience that considers the physical surroundings, equipment, and technological advancements that facilitate efficiency.

FAQs:

What does Keka do?

It is a cloud-based human resource (HR) service that assists companies with hiring, processing hiring requests, managing employee profiles, and analyzing performance.

When was Keka founded?

In 2015, it was established.

Who is the founder of Keka Corporation?

Vijay Yalamanchili was it’s founder.

Who is the CEO of Keka Corporation?

Vijay Yalamanchili is the CEO.

Who are the main competitors of Keka?

It’s main rivals include Workday, Deel, and Kronos.

Conclusion:

In the HR technology sector, Keka represents the pinnacle of creativity and quality. By emphasizing creating a seamless employee experience, it is reinventing the atmosphere for human resources management. It stays at the forefront of company growth in an ever-evolving global landscape because of its enthusiasm, intelligence, and unwavering dedication to client satisfaction. Keka and its clients have a bright future as they continue to develop, broaden their clientele, and enhance their offerings.