Opkey Raises $47 Million in Funding Led by PeakSpan Capital

New Delhi, Aug 22 (PTI) IT startup Opkey, which has about 80 per cent workforce in India, has raised USD 47 million (about Rs 395 crore) in a funding round led by PeakSpan Capital and support from existing investors, the company said on Thursday.

The company plans to utilise the investment to accelerate technological advancements and product development and grow its sales and marketing teams to expand its market presence globally.

Opkey is also expanding Engineering and AI research teams at its Noida and Bangalore research and development centres to develop a category-defining product, the company said in a statement.

"Opkey...has raised USD 47 million in series B funding led by PeakSpan Capital, with continued support from existing investors," the statement said.

Founded in 2016, Opkey provides AI-enabled, no-code test automation solutions for enterprise ERP systems.

"This funding will allow us to further enhance our technology and expand our reach, helping more organizations seamlessly migrate their legacy ERP systems to the cloud, while ensuring continuous quality and performance, given its criticality to business outcomes," Opkey CEO and Co-founder Pankaj Goel said.