Total amount raised
$3.05M
Latest funding date
2023-03-30
Location
Kredily has raised funding over six rounds, with the latest being a Venture - Series Unknown round. The company is backed by 18 investors, including HEM ANGELS and Soonicorn Ventures.
What Is Kredily?
Kredily is a private company based in Bengaluru, Karnataka, India, specializing in HR and payroll software. The platform is designed to streamline human resources and payroll processes for businesses of all sizes.
With an employee count ranging from 11 to 50, Kredily offers a variety of features, including attendance tracking, benefits administration, and tax calculations. The software is trusted by over 25,000 companies and 1,000,000 employees, emphasizing its reliability and efficiency.
How Much Funding Has Kredily Raised?
- Seed (Round 10 — Latest)
- Amount Raised: Not publicly disclosed
- Date: August 30, 2024
- Lead Investors: Peaceful Progress
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop Kredily's HR and payroll platform and expand its market presence.
- Seed (Round 9)
- Amount Raised: Not publicly disclosed
- Date: October 31, 2023
- Lead Investors: SiriusOne (and 4 other investors)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and product development.
- Series Unknown (Round 8)
- Amount Raised: INR 891,378 (approx. USD 10,857)
- Date: March 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and product enhancement.
- Seed (Round 7)
- Amount Raised: USD 17,787
- Date: July 20, 2022
- Lead Investors: Avinash Kumar Singh (and 25+ other investors)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product features.
- Seed (Round 6)
- Amount Raised: USD 1,100,000
- Date: December 17, 2021
- Lead Investors: Artha India Ventures (and 2 other investors)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve technology infrastructure.
- Seed (Round 5)
- Amount Raised: USD 100,000
- Date: October 21, 2021
- Lead Investors: We Founder Circle
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market entry.
- Seed (Round 4)
- Amount Raised: Not publicly disclosed
- Date: April 2020
- Lead Investors: Artha India Ventures, Artha Group; co-investors include Rainmatter (Zerodha), AngelList The Collective I fund, LenDenClub founder Bhavin Patel, and others
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance service offerings and expand the customer base.
- Seed (Round 3)
- Amount Raised: USD 750,000
- Date: June 14, 2019
- Lead Investors: Fosun RZ Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product launch and market penetration. Participants included Delhivery co-founder Mohit Tandon and Avinash Anand (former VP Engineering, Zenefits).
- Seed (Round 2)
- Amount Raised: Not publicly disclosed
- Date: September 6, 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Early-stage capital to build out the platform.
- Seed / Angel (Round 1)
- Amount Raised: Not publicly disclosed
- Date: April 30, 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial angel funding to establish the company and begin product development.
Total Amount Raised: At least $3.05M based on disclosed funding across all rounds (per Tracxn; individual round amounts for several rounds are not publicly disclosed).
Current Valuation: Not publicly disclosed
Key Investors
- Peaceful Progress
- Details: Peaceful Progress is an investment firm known for sustainable and socially responsible ventures. They led Kredily's most recent seed round in August 2024.
- Investment Focus Areas: Renewable Energy, Education, Healthcare, SaaS
- Notable Investments: Supply6, Kredily
- SiriusOne
- Details: SiriusOne is a Chennai-based investor that led Kredily's October 2023 seed round alongside four other investors.
- Investment Focus Areas: Early-stage technology startups in India
- Notable Investments: Not publicly disclosed
- HEM ANGELS
- Details: HEM ANGELS is an investment group that focuses on early-stage startups, providing both financial support and strategic guidance.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Not publicly disclosed
- Soonicorn Ventures
- Details: Soonicorn Ventures is a venture capital firm that invests in high-potential startups aiming to identify companies on the verge of becoming unicorns.
- Investment Focus Areas: Fintech, SaaS, E-commerce
- Notable Investments: Not publicly disclosed
- Artha India Ventures / Artha Group
- Details: Artha India Ventures is a Mumbai-based early-stage investment firm. They led a syndicate round in Kredily in October 2020 and participated again in December 2021.
- Investment Focus Areas: Real Estate, Technology, Financial Services
- Notable Investments: OYO, Coolberg, Hobspace, Leap Club
- Fosun RZ Capital
- Details: Fosun RZ Capital is a global venture capital firm affiliated with Chinese conglomerate Fosun Group. They led Kredily's June 2019 seed round.
- Investment Focus Areas: Healthcare, Fintech, Consumer Goods
- Notable Investments: Not publicly disclosed
- We Founder Circle
- Details: We Founder Circle is one of India's largest angel investor networks, based in Mumbai. They led Kredily's October 2021 seed round.
- Investment Focus Areas: Early-stage startups across technology sectors
- Notable Investments: Not publicly disclosed
What's Next for Kredily?
As Kredily looks to the future, the opportunities in the HR and payroll software market are vast. With the rise of AI and digital transformation, the company is well-positioned to leverage these trends to enhance its offerings and expand its market reach. The potential for growth in sectors like AI and digital payments is significant, providing Kredily with ample room to innovate and capture new market segments.
Future fundraising opportunities appear promising, especially with platforms like Pitch Arena 2026 that connect startups with top investors. This could enable Kredily to secure additional funding to support its growth initiatives and technological advancements. However, the company may face challenges such as staying competitive in a rapidly evolving market and navigating regulatory changes. By addressing these challenges head-on, Kredily can continue to thrive and potentially attract more investment and acquisition interest.
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