Total amount raised
$17 Million
Latest funding date
12/1/2020
Location
PagarBook has successfully raised funds through 4 distinct funding rounds, attracting the support of 7 investors, including notable names like Peak XV Partners and FEBE Ventures. The platform is designed to streamline staff attendance, salary management, and compliance tasks for small and medium enterprises.
Keep reading to explore the intricacies of PagarBook's fundraising journey and the investors backing this innovative platform.
What Is PagarBook?
PagarBook, developed by Gyankaar Technologies Pvt Ltd., is a software solution designed to manage staff attendance, salary, payments, and compliances. The company is located in Bangalore, Karnataka, India, and has an employee count between 251-500.
Operating in the software industry, PagarBook offers various products tailored to different business needs, including premium features like selfie and location-based attendance, payroll management with PF/ESI, and touchless facial attendance powered by AI. The platform is widely used across India, with a significant presence in over 650 districts and support for more than 10 languages.
How Much Funding Has PagarBook Raised?
- Seed Round
- Amount Raised: $2,000,000
- Date: January 2020
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and establish a market presence.
- Series A Round
- Amount Raised: $7,000,000
- Date: October 2020
- Lead Investors: Peak XV Partners
- Valuation at Round: $44,500,000
- Motivation Behind the Round: To scale the business, enhance the app's features, and expand the user base.
- Series A Round
- Amount Raised: $8,000,000
- Date: December 2020
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enter new markets.
- Series A Round
- Amount Raised: $12,000,000
- Date: April 2025
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding the platform's capabilities and reach.
PagarBook has raised a total of $29,000,000 in funding. The current valuation is Not publicly disclosed.
Key Investors
- Peak XV Partners
- Details: Peak XV Partners is a venture capital firm that invests in early and growth-stage companies. They have a strong presence in the technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Flipkart, Byju's, OYO Rooms
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm that has funded many successful startups globally. They focus on technology-driven companies.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Google, Apple, Airbnb
- Surge
- Details: Surge is a rapid scale-up program by Sequoia Capital, designed to supercharge early-stage startups. It provides funding, mentorship, and resources to help startups grow quickly.
- Investment Focus Areas: Technology, consumer internet, enterprise software
- Notable Investments: Khatabook, Doubtnut, Classplus
What's Next for PagarBook?
As PagarBook continues to expand its user base among small and medium enterprises (SMEs), the opportunities for growth are immense. With over 3 million registered SMEs managing payroll for more than 6 million employees, the platform is well-positioned to enhance its features and introduce new languages and regional customizations to cater to a broader audience.
Future fundraising opportunities look promising, with the company expected to receive more capital in the coming months. This influx of funds will enable PagarBook to scale its operations, invest in marketing, and enhance its app's functionality, including automated compliance management and integration with other business tools.
However, PagarBook may face challenges such as competition from other employee management and payroll software providers, maintaining data security and privacy, and ensuring the app remains user-friendly across different languages and regions. Despite these hurdles, the increasing digitization of payroll and employee management processes among SMEs and the growing demand for multi-language support present significant growth opportunities for the platform.
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