
Total amount raised
$17 Millions
Latest funding date

Location
PagarBook has successfully raised significant funding through multiple rounds, including a Series A round closed on December 18, 2020. The platform offers comprehensive staff attendance, salary, and compliance management solutions for small and medium enterprises.
Keep reading to explore the intricacies of PagarBook's fundraising journey and the investors backing this innovative platform.
What Is PagarBook?
PagarBook, founded in December 2019, is headquartered in Bangalore, Karnataka, India. The company was established by Adarsh Kumar, Arya Gautam, and Rupesh Mishra.
Specializing in staff attendance, salary, and compliance management, PagarBook serves small and medium enterprises with a comprehensive app that synchronizes across multiple devices in real-time.
With a team of 251-500 employees, PagarBook continues to innovate in the field of employee management solutions.
How Much Funding Has PagarBook Raised?
- Seed Round
- Amount Raised: $2M
- Date: January 2020
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the app and establish a market presence.
- Series A Round
- Amount Raised: $7M
- Date: October 2020
- Lead Investors: Peak XV Partners
- Valuation at Round: $44.5M
- Motivation Behind the Round: To expand the app's capabilities and increase market reach.
- Series A Round
- Amount Raised: $8M
- Date: December 2020
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance product features.
Total Amount Raised: $17M. Current Valuation: $44.5M.
Key Investors
- Sequoia’s Surge
- Details: Surge is a rapid scale-up program by Sequoia Capital, designed to support early-stage startups in India and Southeast Asia.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Zomato, Byju's, OYO Rooms.
- IQ Alpha
- Details: IQ Alpha is an investment firm that participated in PagarBook's Series A funding round.
- Investment Focus Areas: High-growth potential startups.
- Notable Investments: Not publicly disclosed.
- Kunal Shah’s QED Innovation Labs
- Details: QED Innovation Labs is an investment entity associated with Kunal Shah, a prominent entrepreneur and investor.
- Investment Focus Areas: Technology, fintech, innovative startups.
- Notable Investments: Cred, FreeCharge, Razorpay.
- Peak XV Partners
- Details: Peak XV Partners is a venture capital firm that led PagarBook's Series A funding rounds.
- Investment Focus Areas: Technology, consumer internet, healthcare.
- Notable Investments: Not publicly disclosed.
- Surge
- Details: Surge is a part of Sequoia Capital, focusing on early-stage startups in India and Southeast Asia.
- Investment Focus Areas: Technology, consumer services, healthcare.
- Notable Investments: Zomato, Byju's, OYO Rooms.
What's Next for PagarBook?
With a significant user base of over 30 lakh registered SMEs managing payroll for more than 60 lakh employees, PagarBook is poised for substantial growth. The app's multilingual support and real-time synchronization across devices cater to a diverse and expanding market. As digital transformation accelerates, the demand for efficient payroll and attendance management solutions is expected to rise, presenting PagarBook with vast opportunities.
Future fundraising appears promising, with the ongoing round indicating more capital influx. The backing of prominent investors like Sequoia’s Surge and IQ Alpha suggests continued financial support. However, PagarBook must navigate challenges such as competition from other software providers, scaling infrastructure, and ensuring data security. Retaining significant shareholding amidst new funding rounds will also be crucial for the founders.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like PagarBook and gather other critical business insights.
Sign up for free on Clay and unlock the potential to drive your sales efforts with data-driven precision.