About HRTech sector in India
The HRTech sector in India comprises 7.7K companies, including 711 funded companies having collectively raised $5.41B in venture capital money and private equity. Out of these, 185 are Series A+ funded, and 6 have achieved unicorn status.
HRTech sector in India has seen 97 acquisitions and 5 IPOs.
This sector includes companies providing technology for human resource solutions to enterprises.
HRTech sector is also known as HR Technology, Human Resource Technology, Human Resource Software or Human Resource Management Tech.
Companies included in HRTech
Companies that provide technology for human resource solutions to enterprises. These solutions help in hiring, managing , engaging , training and supporting employees. Also included solutions for candidate career enhancement.Companies excluded in HRTech
Companies providing outsourcing services for various HR Functions like Recruiting, Talent Management, Workforce Management, Payroll and moreTop HRTech Companies in India
There are more than 7.7K companies in HRTech in India. Razorpay is the top HRTech company in India, ranked using Tracxn Score (what's this?).
Here are 5 of the top HRTech companies in India:
Company | Description | Location | Founded | Current Stage | Private Funding Raised |
|---|---|---|---|---|---|
Provider of payment and business banking solutions for enterprises | Bengaluru (India) | 2014 | Series F | $742M | |
Provider of human capital management platform offering integrated HR solutions | Gurugram (India) | 2005 | Acquired | $30.7M | |
Platform designed to streamline business spends, payments, and rewards through automated and innovative workflows | Hyderabad (India) | 2011 | Public | $13.7M | |
Provider of employee health benefits platform offering health and wellness programs | Hyderabad (India) | 2015 | Series B | $28M | |
Provider of cloud based human resource management system and payroll software. | Bengaluru (India) | 1994 | Acquired | $47.4M |
Companies founded year-on-year in the HRTech sector in India
6 new startups have been founded so far in 2026 in the HRTech sector in India. 819 HRTech 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 |
|---|---|
2026 | 6 |
2025 | 150 |
2024 | 411 |
2023 | 488 |
2022 | 413 |
2021 | 573 |
2020 | 819 |
2019 | 619 |
2018 | 503 |
2017 | 471 |
Stage-wise distribution of HRTech sector companies in India
Out of the total 7,695 HRTech companies in India, 711 have secured funding. Among them, 185 have reached Series A or higher, and 133 to Series B or beyond.
Founded - 7,695
Funded - 711
Series A+ - 185
Series B+ - 133
Series C+ - 115
Company Stage | No. of companies |
|---|---|
Founded | 7,695 |
Funded | 711 |
Series A+ | 185 |
Series B+ | 133 |
Series C+ | 115 |
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Funding Trends in the HRTech sector in India
Total funding year-on-year in the HRTech sector in India
The HRTech sector in India saw a total funding of more than $4.58B in the last 10 years. The most amount of funding was in 2021 at more than $1.63B. There has been a total funding of $35.2M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $35.2M |
2025 | $468M |
2024 | $232M |
2023 | $206M |
2022 | $999M |
2021 | $1.63B |
2020 | $503M |
2019 | $266M |
2018 | $154M |
2017 | $78.6M |
Recent Funding Rounds in HRTech in India
In the year 2026, till April 2026, HRTech companies in India have raised $35.2M in equity funding across 11 rounds.
In the same period last year (i.e. till April 2025), HRTech companies in India had raised $99M across 16 rounds.
So, 2026 has seen a 64.4% drop in funding in HRTech companies in India as compared to 2025.
Here are some recent, important funding rounds in HRTech companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 2615 | Apr 14, 2026 | ||
Seed | 8807 | Apr 10, 2026 | ||
Series B | 3216 | Mar 16, 2026 | ||
Series B | 5048 | Mar 16, 2026 | and 2 more | |
Series A | 1423 | Feb 18, 2026 |
Top Investors in HRTech in India
General Catalyst is the top investor in HRTech companies in India based on number of companies invested.
Here are some top investors in HRTech companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Cambridge (United States) | ||
Palo Alto (United States) | ||
Redwood City (United States) | Sense and Nova Benefits | |
Menlo Park (United States) | ||
Bengaluru (India) |
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M&A activity in HRTech sector in India
In the year 2026, till March 2026, 3 acquisitions happened in HRTech sector in India. Last year, in 2025, a total of 6 acquisitions happened in HRTech sector in India.
Here are some recent, important acquisitions in HRTech sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Mar 10, 2026 | ||
Business Acquisition | Feb 26, 2026 | ||
Business Acquisition | Feb 05, 2026 | ||
Business Acquisition | Dec 04, 2025 | ||
Business Acquisition | Aug 01, 2025 |
Acquisition trends in HRTech sector in India
Here are the acquisition trends in HRTech sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 3 |
2025 | 6 |
2024 | 12 |
2023 | 8 |
2022 | 14 |
2021 | 11 |
2020 | 5 |
2019 | 9 |
2018 | 8 |
2017 | 7 |
IPOs in HRTech in India
In the year 2023, till September 2023, 1 IPO happened in HRTech sector in India.
Here are some recent, important IPOs in HRTech sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Sep 22, 2023 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) | |
Sep 05, 2005 | Bombay Stock Exchange (BSE) | |
May 09, 2005 | National Stock Exchange (NSE) | |
Sep 10, 2000 | Bombay Stock Exchange (BSE) | |
Apr 12, 2000 | National Stock Exchange (NSE) |
Colleges which produce the most HRTech companies in India
Companies founded by alumni from top colleges in the HRTech in India
Most number of HRTech startups in India have been founded by alumni from BITS Pilani, IIT Bombay and IIT Delhi.
College | No. of companies |
|---|---|
BITS Pilani | 72 |
IIT Bombay | 60 |
IIT Delhi | 57 |
IIT Kharagpur | 50 |
IIT Kanpur | 42 |
IIM Ahmedabad | 40 |
Indian School of Business | 36 |
IIM Calcutta | 35 |
IIT Roorkee | 31 |
IIT Madras | 29 |
Total funding in HRTech companies founded by alumni from top colleges in India
In the last 10 years, Indian School of Business graduates' HRTech companies in India have raised the most funding among top colleges. IIT Roorkee alumni are second, and IIT Bombay alumni are third.
College | Total Funding |
|---|---|
Indian School of Business | $808M |
IIT Roorkee | $769M |
IIT Bombay | $563M |
IIT Delhi | $450M |
University of California (Berkeley) | $434M |
Stanford University | $276M |
Massachusetts Institute of Technology | $244M |
Stanford Business School | $239M |
IIT Madras | $238M |
University of Pennsylvania | $151M |
Top News in HRTech in India
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Xoxoday Raises Series-C to Accelerate Global ExpansionThe Tribune•Jan 14, 2026•Xoxoday, Apis Partners
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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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