About HR SaaS sector in India
The HR SaaS sector in India comprises 2.74K companies, including 324 funded companies having collectively raised $3.16B in venture capital money and private equity. Out of these, 104 are Series A+ funded, and 4 have achieved unicorn status.
HR SaaS sector in India has seen 54 acquisitions and 1 IPO.
This sector includes companies offering cloud-based solutions for HR professionals to manage their employees and day to day work.
Cloud-based HRMS, Payroll, Employee Engagement, Job Boards, Marketplaces, Performance Management Tools, other HR-related software Non-Cloud-based HR Solutions, Generic Cloud Infra Solution, Services Companies
Top HR SaaS Companies in India
There are 2,744 HR SaaS startups in India which include People Strong, MoveInSync, GreytHR, Ekincare, Zoho. Out of these, 324 startups are funded, with 104 having secured Series A+ funding, and 4 achieving unicorn status.
Over the past 10 years, an average of 158 new companies have been launched annually. Notably, several of these startups have been founded by alumni of BITS Pilani, IIT Delhi and IIT Bombay.
Here is the list of top HR SaaS startups in India
PeopleStrong is a provider of cloud-based human resource management software. The product offerings include Alt Worklife, an HCM solution with features as employee onboarding, engagement, transfer management, etc; Alt Performance, a performance management software with features as goal management, performance reviews, feedback management, analytics, etc; Alt Recruit, a recruitment management software to manage end-to-end recruitment; Alt Analytics, an AI-based talent analysis solution that provides employers insights about candidates; The clientele includes Mahindra rise, HDFC Life, ICICI Prudential, CEAT, Royal Enfield, Tata Motors, Paytm, P & G, Continental, Vivo, etc.
Key facts about People Strong
- Founded Year: 2005
- Location: Gurugram (India)
- Stage: Acquired
- Total Funding till date: $30.7M
- Investors: West Street AEP I Offshore Aggregator, Multiples Alternate Asset Management and 41 Others
- Latest Funding Round: Series C, Jun 04, 2025, $*****
- Tracxn Score: 82/100 What is this?
- Competitors Rank: 2 of 3,057 Competitors
2. MoveInSync
Provider of employee transportation management solutions. It offers a platform automating employee commutes, including home-to-office cabs, fixed-route shuttles, and corporate car rentals. The system features scheduling, routing optimization, real-time tracking, billing, and safety features. It integrates with existing fleet providers and other business systems, aiming to reduce transport costs and improve employee satisfaction. The platform also includes tools for managing workplace operations and enhancing employee experience.
Key facts about MoveInSync
- Founded Year: 2009
- Location: Bengaluru (India)
- Stage: Series C
- Total Funding till date: $31.9M
- Investors: Nexus Venture Partners, Saama Capital and 19 Others
- Latest Funding Round: Series C, Jan 29, 2024, $*****
- Tracxn Score: 79/100 What is this?
- Competitors Rank: 1 of 39 Competitors
3. GreytHR
Provider of cloud-based HRMS and payroll software. The software offers a suite of tools for managing human resources and payroll processes. Features include workforce management, employee relations, leave and attendance tracking, recruitment management and payroll processing. The platform also provides an employee self-service portal for tasks such as accessing payslips and managing leave requests. The software automates manual processes, manage efficiency in HR and payroll operations. It includes reporting capabilities and integrates with existing IT infrastructure. It is a tool available on the subscription based pricing model.
Key facts about GreytHR
- Founded Year: 1994
- Location: Bengaluru (India)
- Stage: Acquired
- Total Funding till date: $47.4M
- Investors: New Enterprise Associates, Info Edge and 14 Others
- Latest Funding Round: Series F, Sep 03, 2024, $*****
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 4 of 3,057 Competitors
4. Ekincare
Digital health benefits platform to help organizations manage employee wellness. It provides an AI powered integrated health benefits platform encasing various services including annual health checkups, telemedicine, e-pharmacy, vaccinations, mental health and well-being services. The platform provides a variety of functions, such as doctor access, workplace sanitation, fitness management, employee interaction tracking, a dashboard for health data analytics, medical room and equipment management, vaccination management, and more.
Key facts about Ekincare
- Founded Year: 2015
- Location: Hyderabad (India)
- Stage: Series B
- Total Funding till date: $27M
- Investors: Ventureast, Eight Roads Ventures and 41 Others
- Latest Funding Round: Series B, Feb 25, 2025, $*****
- Tracxn Score: 77/100 What is this?
- Competitors Rank: 3 of 1,025 Competitors
5. Zoho
Provider of cloud-based business software suite for diverse operational requirements. The suite offers applications for customer relationship management, email, accounting, human resources, and help desk functions. It provides tools to streamline business processes and improve organizational efficiency. The software suite is designed for businesses of varying sizes.
Key facts about Zoho
- Founded Year: 1996
- Location: Chennai (India)
- Stage: Unfunded
- Tracxn Score: 75/100 What is this?
- Competitors Rank: 35 of 14,370 Competitors
Companies founded year-on-year in the HR SaaS sector in India
257 HR SaaS startups in India were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2025 | 28 |
2024 | 112 |
2023 | 153 |
2022 | 135 |
2021 | 183 |
2020 | 257 |
2019 | 200 |
2018 | 162 |
2017 | 153 |
2016 | 200 |
Stage-wise distribution of HR SaaS sector companies in India
Out of the total 2,744 HR SaaS companies in India, 324 have secured funding. Among them, 104 have reached Series A or higher, and 70 to Series B or beyond.
Founded - 2,744
Funded - 324
Series A+ - 104
Series B+ - 70
Series C+ - 64
Company Stage | No. of companies |
|---|---|
Founded | 2,744 |
Funded | 324 |
Series A+ | 104 |
Series B+ | 70 |
Series C+ | 64 |
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Funding Trends in the HR SaaS sector in India
Total funding year-on-year in the HR SaaS sector in India
The HR SaaS sector in India saw a total funding of more than $2.97B in the last 10 years. The most amount of funding was in 2022 at more than $935M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $328M |
2024 | $131M |
2023 | $120M |
2022 | $935M |
2021 | $715M |
2020 | $383M |
2019 | $159M |
2018 | $119M |
2017 | $48.4M |
Recent Funding Rounds in HR SaaS in India
In the year 2025, till December 2025, HR SaaS companies in India have raised $324M in equity funding across 22 rounds.
In the same period last year (i.e. till December 2024), HR SaaS companies in India had raised $131M across 37 rounds.
So, 2025 has seen a 148.05% rise in funding in HR SaaS companies in India as compared to 2024.
Here are some recent, important funding rounds in HR SaaS companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 4814 | Dec 09, 2025 | ||
Series A | 7200 | Nov 20, 2025 | ||
Series F | 5247 | Oct 22, 2025 | ||
Seed | 8760 | Sep 16, 2025 | ||
Series D | 1393 | Sep 12, 2025 | and 1 more |
Top Investors in HR SaaS in India
Accel is the top investor in HR SaaS companies in India based on number of companies invested.
Here are some top investors in HR SaaS companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Palo Alto (United States) | ||
Cambridge (United States) | ||
Redwood City (United States) | MoveInSync and Sense | |
Menlo Park (United States) | - | |
San Francisco (United States) | - |
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M&A activity in HR SaaS sector in India
In the year 2025, till November 2025, 5 acquisitions happened in HR SaaS sector in India. Last year, in 2024, a total of 6 acquisitions happened in HR SaaS sector in India.
Here are some recent, important acquisitions in HR SaaS sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Nov 04, 2025 | ||
Business Acquisition | Aug 01, 2025 | ||
Business Acquisition | Apr 18, 2025 | ||
Business Acquisition | Apr 15, 2025 | ||
Business Acquisition | Feb 06, 2025 |
Acquisition trends in HR SaaS sector in India
Here are the acquisition trends in HR SaaS sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 5 |
2024 | 6 |
2023 | 8 |
2022 | 10 |
2021 | 6 |
2020 | 2 |
2019 | 5 |
2018 | 6 |
2017 | 2 |
IPOs in HR SaaS in India
In the year 2000, till September 2000, 2 IPOs happened in HR SaaS sector in India.
Here are some recent, important IPOs in HR SaaS sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Sep 10, 2000 | Bombay Stock Exchange (BSE) | |
Apr 12, 2000 | National Stock Exchange (NSE) |
Colleges which produce the most HR SaaS companies in India
Companies founded by alumni from top colleges in the HR SaaS in India
Most number of HR SaaS startups in India have been founded by alumni from BITS Pilani, IIT Delhi and IIT Bombay.
College | No. of companies |
|---|---|
BITS Pilani | 42 |
IIT Delhi | 35 |
IIT Bombay | 28 |
IIT Kanpur | 28 |
IIT Kharagpur | 25 |
IIM Bangalore | 22 |
IIT Madras | 22 |
IIM Ahmedabad | 21 |
IIM Calcutta | 21 |
IIT Roorkee | 18 |
Total funding in HR SaaS companies founded by alumni from top colleges in India
In the last 10 years, IIT Delhi graduates' HR SaaS companies in India have raised the most funding among top colleges. IIT Bombay alumni are second, and University of California (Berkeley) alumni are third.
College | Total Funding |
|---|---|
IIT Delhi | $448M |
IIT Bombay | $436M |
University of California (Berkeley) | $407M |
IIT Madras | $393M |
Stanford University | $173M |
University of California (Los Angeles) | $162M |
XLRI- Xavier School of Management | $158M |
Yale University | $150M |
Indian Institute Of Management–Lucknow | $145M |
Indian School of Business | $137M |
Top News in HR SaaS in India
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Exxat Partners with Athletico to Simplify Clinical EducationPR Newswire•Oct 16, 2025•Athletico, Exxat
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ProHance Recognized as a Trailblazer in the Everest Group Workforce Management in Contact Centres 2025 ReportThe Associated Press•Sep 16, 2025•ProHance
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Unicorn India-backed healthcare payments firm QubeHealth eyes fundraiseVCCircle•Sep 15, 2025•QubeHealth
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