HerKey Bags Investment To Address Gender Gap In The Workforce

LinkedIn now has 100 million members in India

SUMMARY

The round saw participation from Kalaari, 360 One Asset and other angel investors

The startup claims to have served over 3.5 Mn women in India and plans to empower 30 Mn+

The startup enables women to upskill and reskill, along with providing mentorship to start, restart, or advance in career

HerKey, formerly known as JobsForHer, has raised $4 Mn from Kalaari, 360 One Asset and other angel investors.

Founded in 2015 by Neha Bagaria, the startup operates as a career engagement platform for women. HerKey claims that women form only 20% of the Indian workforce against 60% in China and 55% in the US. The startup aims to address this gap.

According to the startup, HerKey has served 3.5 Mn+ women across India and has growth plans to empower 30 Mn+ women’s careers in the country.

The platform doesn’t only help women find the right kind of job but also enables them to upskill and reskill, along with providing mentorship to start, restart, or advance in career.

Commenting on the participation of women in workforce, Nidhi Ghuman, senior EVP, 360 ONE Asset said, “On average 80% women on a career break look forward to coming back into the workforce and we are delighted to participate in this endeavour to empower women and promote a more inclusive and equitable society.”

Bagaria said, “We need to create a movement where everyone, including men, supports and champions women’s careers. By working together, we can create a more inclusive and equitable workforce, which will benefit all.”

The HRtech industry witnessed an uptick during the pandemic as organisations across the board turned to the SaaS-led ecosystem for workforce management. This enabled the segment to gather investments from significant investors.

Just days back, SaaS startup BetterPlace acquired Malaysia-based job placement startup TROOPERS to strengthen its presence in the Southeast Asian region.

In January, HRtech unicorn Darwinbox secured $5 Mn in an extended Series D funding round from State Bank of India (SBI). Meanwhile, fintech startup InCred Capital acquired a 20% stake in Indian HRtech startup TeamNest.

In addition, Keka closed 2022 with a raise of $57 Mn in its Series A funding round led by Westbridge Capital.

The Indian HRtech space is populated by the likes of players such as Advantage club, Vantage Circle and Mettl.

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