HerKey, the leading career engagement platform for women in India, has announced a $4 million funding round from Kalaari, 360 ONE Asset, earlier known as IIFL Asset Management (IIFL AMC), and angel investors, including Zia Mody, Puneet Dalmia, Pramit Jhaveri, Aditi & Shuchi Kothari, KP Balaraj, Ranjan Pai, Neeraj Bajaj, Akash Bhansali and others.
Formerly known as JobsForHer, HerKey has transformed into a career engagement platform that unlocks opportunities, learning, and communities for women in India by connecting them with career champions.
The platform seeks to address the gender gap in the Indian workforce, where only 20 per cent of women participate in the labour force, compared to 60 per cent in China and 55 per cent in the US. The company started by enabling women to restart their careers after a break, and it has grown to enable women to start, restart and rise in their careers.
Neha Bagaria, the Founder and CEO of HerKey, expressed her excitement at the funding round, by stating that “We are grateful to our esteemed investors for their support in helping us create a more inclusive workforce for women in India.” Under Neha’s leadership, HerKey has grown to service over 3.5 million women across India and plans to scale to power 30 million women’s careers in India.
Companies use the HerKey platform to engage with women candidates in their entire career lifecycle, from recruitment to retention to promotion. HerKey’s services are designed to support companies in building a diverse and inclusive workplace, attracting and retaining top talent, and creating a positive impact on their business. Currently, there are over 10,000 companies on the platform, and HerKey invites more companies to unlock opportunities, learning, and communities for women candidates on the platform.
“A crucial aspect of India’s economic ascent in the coming decade will be increasing participation of women in the workforce. A digital platform like Herkey is the need of the hour to make progress towards this goal. HerKey helps women exchange diverse knowledge, perspectives and enables them to interact without being constrained by time and location. Neha, as founder and CEO, has done a stellar job in creating pathways for many women to come back into the workforce after a break. We have been impressed by HerKey’s growth trajectory and look forward to partnering with them as they redefine the landscape of women’s careers in India,” said Vani Kola, Founder and Managing Director of Kalaari Capital.
The investment was backed by Kalaari Capital through its CXXO programme that seeks to build a vibrant community of women leaders to champion the next generation of women founder-CEOs for inclusive growth and opportunities to reach the top.
Commenting on the announcement, Nidhi Ghuman, Senior EVP, 360 ONE Asset, earlier known as IIFL Asset Management, stated: “We are thrilled to collaborate with Neha and her team in their efforts to establish a platform that enables women to excel and realize their maximum potential. Herkey, (formerly JobsforHer) has accomplished remarkable feats over the years, and the launch of this new platform is evidence of its commitment and achievements in recent times.
“Neha’s leadership, passion and commitment to this business and its purpose has been a strong motivator for us to commit further to this opportunity. On average 80 per cent 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.”
As Neha Bagaria puts it, “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.”