Darwinbox Secures $140 Million in Funding Round

The HR tech platform Darwinbox has successfully secured $140 million in funding, led by Partners Group and KKR, with participation from Gravity Holdings. This funding will support Darwinbox’s ongoing research and development efforts while facilitating its global expansion.

Founded by Jayant Paleti, Rohit Chennamaneni, and Chaitanya Peddi, Darwinbox operates as a cloud-based HR platform that streamlines various functions such as recruitment, payroll, employee engagement, talent management, and people analytics.

Collaborations and Global Reach

Last year, Darwinbox formed a partnership with Microsoft to integrate its Human Capital Management (HCM) platform with Microsoft’s tools, with the objective of enhancing the overall employee experience.

Located in Hyderabad, Darwinbox has successfully expanded its services to several countries including Indonesia, Singapore, the Philippines, Malaysia, Vietnam, and Thailand. A significant portion of its revenue is generated from Southeast Asia and India, and the company has also established offices in Saudi Arabia, the UAE, and the United States.

Innovation in HR Technology

Recently, Darwinbox introduced an AI-powered product suite that encompasses various HR functions. Additionally, the company is actively developing AI-driven agents designed to assist HR professionals in areas such as talent acquisition and digital transformation.

To date, Darwinbox has raised over $255 million, which includes a notable $72 million from its Series D funding round in January 2022, marking its entry into the unicorn club.

Moreover, in August 2024, Darwinbox announced the promotion of Vineet Singh, the chief technology officer (CTO), to the role of co-founder.

Financial Overview

According to data intelligence platforms, Darwinbox recorded revenue from operations amounting to Rs 392.95 crore, while its expenses reached Rs 584.15 crore, leading to a net loss of Rs 191.82 crore for the fiscal year 2024.