The HR technology landscape is buzzing with excitement as Darwinbox, a rapidly growing HRtech platform, has announced a significant $140 million investment. This funding round was co-led by prominent investment firms Partners Group and KKR, with additional participation from Gravity Holdings. This major injection of capital will empower Darwinbox to accelerate its global expansion plans and further bolster its research and development efforts.
This latest investment builds on Darwinbox’s impressive momentum since its inception in 2015. With this funding round, the company has now raised over $255 million in total, including a notable $72 million in its Series D round in January 2022, which propelled it into the coveted “unicorn” status.
Founded by visionaries Jayant Paleti, Rohit Chennamaneni, and Chaitanya Peddi, Darwinbox is revolutionizing how enterprises manage their human resources. Their mobile-first, AI-driven platform streamlines HR processes, offering a seamless and engaging experience for both HR professionals and employees.
“This investment is a testament to Darwinbox’s strong fundamentals and the trust we have earned from our 1,000+ global customer base,” stated Jayant Paleti, Co-founder of Darwinbox. “By placing the employee experience front and center — and ensuring our platform is deeply configurable to diverse local needs — we have helped transform HR for enterprises globally. With top-tier investors backing us, we’re poised to amplify our global momentum and deliver innovative AI‐powered solutions for thousands of enterprises worldwide.”
Global Expansion on the Horizon
Darwinbox has already established a strong foothold across key regions, including Asia Pacific, the Middle East, the United Kingdom, and the United States. The company is experiencing significant growth, particularly in Southeast Asia and India, and has strategically expanded its presence by opening offices in Saudi Arabia, the UAE, and the US.
Over the past two years, Darwinbox has demonstrated remarkable growth, with a fivefold increase in international revenue. Notably, more than 60% of its new revenue now originates from outside India. This fresh capital infusion will be instrumental in enabling Darwinbox to broaden its reach, penetrate new markets, and drive further technological advancements.
AI-Powered HR Solutions: The Future of Work
Darwinbox is renowned for prioritizing employee experience within its platform. It integrates essential HR tools, such as payroll, talent acquisition, and people analytics, into a unified, cloud-based system.
The company is at the forefront of innovation, having recently introduced new AI-powered product features. Darwinbox is actively developing AI-driven assistants to empower HR teams in areas such as hiring, digital transformation, and employee engagement. Last year, Darwinbox partnered with Microsoft to enhance the employee experience by seamlessly integrating its platform with Microsoft’s suite of productivity tools.
Darwinbox boasts an impressive client roster, including industry giants like Starbucks, AXA, Nivea, Cigna, and WeWork. In total, Darwinbox’s platform serves over 3 million employees across more than 1,000 enterprises.
Investor Confidence
Cyrus Driver, Managing Director, Private Equity, Partners Group, commented, “Darwinbox operates in the rapidly growing HR tech market, which we have been tracking through our thematic research. The company is acting as a key disruptor to legacy platforms in this space, investing heavily in product innovation, generative AI, and global expansion, and is well positioned to take market share. We look forward to working with Darwinbox’s talented management team on driving future growth. The company represents another exciting addition to our private equity growth portfolio.”
Akshay Tanna, Partner and Head of India Private Equity, KKR, added, “Darwinbox has established itself as a leading player in the human capital management space in a short period through its focus on innovation and customer centricity. We are pleased to support Darwinbox on its next stage of growth and will look to draw from our global network and expertise to accelerate its international expansion ambitions.”
This significant investment in Darwinbox underscores the growing importance of HR technology and the company’s pivotal role in shaping the future of work. With its innovative platform and strategic vision, Darwinbox is poised to continue its impressive growth trajectory and solidify its position as a global leader in the HRtech space.
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