About TeamNest
TeamNest is a Technology company based in Mumbai (India) founded in 2017 by Mahesh Jethani, Saumil Gandhi, Prashant Shah, and Vishrut Srivastava. Cloud-based HRMS solutions for SMBs are delivered. TeamNest has raised $682.23 thousand across 4 funding rounds from investors including InCred Capital, Absolute Returns Scheme and Rajendra C Mehta. TeamNest was last valued at $4.8 million in October 2023. Its chief executive, as recorded, is Mahesh Jethani. Its website teamnest.com draws about 27 thousand monthly visits. Its Indian entity Teamnest Employee Services Private Limited reported revenue of ₹1.64 Cr. Its focus areas include Enterprise Applications, HRTech, HRMS and Suite.
Company details
TeamNest was founded in 2017 in Mumbai, India, within the HR software sector. Cloud-based human resource management services for small and medium-sized businesses are provided, encompassing time and attendance tracking, leave administration, expense handling, payroll execution, compliance documentation, and workforce data analysis. Self-service access for employees and managers is facilitated, alongside a mobile application for field-based sales teams.
- Headquarters Mumbai, India
- Founders Mahesh Jethani, Saumil Gandhi, Prashant Shah, Vishrut Srivastava
- Stage Minicorn
- SectorsTechnology
- Website category Finance · Accounting and Auditing
- Email••••••••
- Phone•••• ••••
- Website teamnest.com
- Social LinkedIn X Facebook Instagram
- Legal Name Teamnest Employee Services Private Limited
- Date of Incorporation 01 May, 2017
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹1.64 Cr
FY 2025 · +18% YoY
- Net Loss-₹99.6 Lakh
FY 2025 · -61% margin
- EBITDA-₹1.35 Cr
FY 2025 · -83% margin
- Total Equity Funding$682.23K (USD)
in 4 rounds
- Latest Funding Round$240.24K (USD), Series A
Oct 2023
- InvestorsInCred Capital
& 4 more
Associated legal entities of TeamNest
TeamNest operates through Teamnest Employee Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Teamnest Employee Services Private Limited CIN U93090MH2017PTC294505 | Active | 01 May 2017 | Mumbai, Maharashtra | ₹1.6 Cr | 4 | View details |
Funding Insights of TeamNest
TeamNest has successfully raised a total of $682.23K across 4 strategic funding rounds. The most recent funding activity was a Series A round of $240.24 thousand completed in October 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $682,229
- Total Rounds 4
- Last Round Series A — $240,240
- First Round $15,905
(Apr 2021)
- Investors Count 5
All 4 funding rounds of TeamNest with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2023 | $240,240 | Series A | $4.8M | Absolute Returns Scheme | – |
| Mar 2023 | $364,260 | Series A | $1.82M | InCred Capital | – |
| Jan 2022 | $61,824 | Seed | $••••• | Rajendra C Mehta | |
| Apr 2021 | $15,905 | Seed | $••••• | Rajendra C Mehta | – |
| Date | Valuation | Stage |
|---|---|---|
| Oct 2023 | $4.8M | •••••••• |
| Mar 2023 | $1.82M | •••••••• |
Last known valuation $4.8M (Oct 2023). 5 investors in total: 4 institutional and 1 angel.
Investors in TeamNest
TeamNest has secured backing from 5 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include InCred Capital, Absolute Returns Scheme and Rajendra C Mehta.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private debt firm | 2016 | incredcapital.com | Mumbai, India | |
Application development and digital marketing services are provided by Dreamscape. | dreamscape.co.in | Mumbai, India | ||
RC Rajendra C Mehta | unknown_4ec5fa2d05c842a9a | |||
Investor details for TeamNest
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Teamnest Employee Services Private Limited (TeamNest)
Teamnest Employee Services Private Limited is the primary company behind TeamNest. The board of Teamnest Employee Services Private Limited currently have 4 directors; the longest-serving is Saumil Yogesh Gandhi, appointed in 2017. 5 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Saumil Yogesh Gandhi DIN 01526453 | Director | 01 May 2017 | 9 yrs 6 mo | Teamnest Employee Services Private Limited |
| Prashant Anant Shah DIN 00933388 | Director | 30 Jan 2018 | 8 yrs 9 mo | Teamnest Employee Services Private Limited |
| Mahesh Ishwardas Jethani DIN 06920267 | Director | 30 Jan 2018 | 8 yrs 9 mo | Teamnest Employee Services Private Limited |
| Rachit Kwatra DIN 10122166 | Director | 17 Jul 2023 | 3 yrs 3 mo | Teamnest Employee Services Private Limited |
People of TeamNest
4 people are tracked at TeamNest (4 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder & CEO | Leadership | |
| Co-Founder & COO | Leadership | |
| Co-Founder & CMO | Leadership | |
| Co-Founder & Advisor | Leadership |
Complete people profiles for TeamNest
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of TeamNest
Figures of Teamnest Employee Services Private Limited, the primary company behind TeamNest, for FY 2025. Revenue was ₹1.64 Cr (+18% year on year). Net loss was -₹99.6 Lakh (-61% margin). EBITDA was -₹1.35 Cr (-83% margin). Revenue has grown at a compounded annual rate of +42% over three years and +69% over five years.
- ₹1.64 CrRevenue · FY 2025 · +18% YoY
- -₹99.6 LakhNet loss · -61% margin
- -₹1.35 CrEBITDA · -83% margin
- ₹62.5 LakhPaid-up capital
- +42%Revenue CAGR, 3 years
- +69%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Teamnest Employee Services Private Limited are on its company page.
Detailed financial statements for TeamNest
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of TeamNest
4 dated milestones of TeamNest across 6 years, from founding to its latest funding, stage changes and deals.
- Founded TeamNest is founded.
- Funding First funding round of $16K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series A, of $240K.
Web traffic of TeamNest
The website of TeamNest (teamnest.com) receives about 27.4K visits a month and ranks #812,171 among all websites worldwide, #2,011 in Accounting and Auditing.
- Monthly visits27.4K
▼ 11.6% vs previous month
- Unique visitors9K
per month
- Global rank#812,171
among all websites
- Category rank#2,011
Finance · Accounting and Auditing
- Bounce rate36%
- Pages per visit3.2
- Average visit1 min 49 sec
- DevicesDesktop 67% · Mobile 33%
Websites whose visitors overlap most with TeamNest. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| recruitinghub.com | 100% | 10.9K | #2,124,501 | View details |
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Related news about Teamnest
Complete news archive for TeamNest
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Frequently Asked Questions about TeamNest
TeamNest was founded in 2017 and raised its 1st funding round 4 years after it was founded.
TeamNest is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Mahesh Jethani is the CEO of TeamNest, as recorded in our data. They have also founded this company.
TeamNest is a funded company, having raised a total of $682.23K across 4 funding rounds to date. The company's 1st funding round was a Seed of $15.9K, raised on Apr 2021.
The primary company behind TeamNest, Teamnest Employee Services Private Limited, reported revenue of ₹1.64 Cr for FY 2025, up 18% year on year.
TeamNest was founded in 2017 in Mumbai, India, within the HR software sector. Cloud-based human resource management services for small and medium-sized businesses are provided, encompassing time and attendance tracking, leave administration, expense handling, payroll execution, compliance documentation, and workforce data analysis. Self-service access for employees and managers is facilitated, alongside a mobile application for field-based sales teams.
TeamNest has 5 investors. Key investors include InCred Capital, Absolute Returns Scheme, Rajendra C Mehta, Sai Taxhelp, and Dreamscape.
The valuation of TeamNest is $4.8M as of Oct 2023.
TeamNest operates through Teamnest Employee Services Private Limited.
The legal entities of TeamNest currently have 4 directors, including Rachit Kwatra, Saumil Yogesh Gandhi, Prashant Anant Shah and others.