Keito Raises Seed Round The company will use the proceedings towards building new products, sales processes for the US expansion, supply fulfillment
By Prabhjeet Bhatla •
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Pune-based no-code intelligent information management platform Keito for enterprises on Thursday announced that it has raised its Seed round from LetsVenture, SumaSoft Pvt Ltd, Rajesh Agarwal, Jaideep Sippy (lifestyle investor, former Gucci, Louis Vuitton), Nandkishore (angel investor), Gautam (former SP Group and Marcomm Consultant), Hemant (Infosys), Yogesh (former head of visual analytics, LTI), Swamy (Columbus).
The company had previously raised its previous Seed round in January 2020 that saw participation from Suma Soft Pvt Ltd and existing individual investors.
The company has raised a total of $360,000 across its Seed rounds to date.
The company will further use the proceedings towards building new products, sales processes for US expansion, supply fulfillment. The company is also in talks to raise a larger Seed round to invest more in sales, customer success, and creating market awareness about the need for an information platform for true automation, across mid-size enterprises. The current focus has been to scale with respect to accounts payable and receivable automation by connecting it with existing accounting software and accelerating the productivity for your finance operations.
Keito Works, founded by serial entrepreneur Amal PS who formerly worked with Infosys, Edgeverve and Vaidya Subramanian who was the former Head of Products Grey Orange Robotics, Intel, IBM-Rationale, Keito Works is providing a SaaS model that is built on top of the business data exchange and transaction volume across their accounts payable and receivable automation for its customers.
"We are very excited to onboard and start working with our new investors. Also happy to receive continuous support from our existing network of investors. Our team and customers have played a key role in ensuring we are focused on addressing the problem of having reliable information from existing islands of data within a business. That has helped us refine our fundamentals, approach, and vision. We, as Keito, abide by the principles of crawl-walk-run. Until now we were focused on understanding the true potential and need for having an information management system within each enterprise. These foundations and depth has helped us define an out-of-box experience for our customers. Looking forward to transforming and accelerating more businesses in the coming months," commented Amal PS, chief executive officer and co-founder.
With SMEs willing to use information extraction and quick automation products, Keito Works aims to provide a low code platform, configurable with enterprise-grade security, reliability, and scalability for businesses. With the rising demand for process management software across India, Singapore, the USA, and Hong Kong, Keito Works will also build a platform that provides a simple business process management software that connects information management systems quickly automating and analyzing their process.
"While we all are bracing the current pandemic situation, it has also made business relook at the automation strategies. While data is the key for any business today for their growth, that is available across various channels today, sourcing the right data from a reliable source has always been a challenge. Keito Works is addressing this challenge that will enable businesses to grow at a faster pace and we are also excited to see the data processing market creating a unique and niche segment of its own in the near future," added Sunitha Ramaswamy, president early stage, LetsVenture.
Having a tie-up with various third-party vendors the platform enables their customers to achieve end-to-end process automation in each of their key use-cases like accounts payable, accounts receivables, and mortgage processing. Keito Works is aiming to build technology that allows human intelligence and data intelligence to work hand in hand.
Some of their marquee customers are Automation Anywhere, Government of India, Mercari to name a few. Total data processed within the platform has crossed three million last year. They are looking to process more than 10 million data by the end of 2021.
