Darwinbox, a mobile-first and AI-enabled human capital management platform founded in 2015, is known for its SaaS platform for hiring, onboarding, and employee administration. The company has managed to obtain funds to the tune of $140 million,with the funding co-led by KKR and Partners Group. The funding was made possible by sale of primary and secondary share, with many investors selling some parts of their stakes. Darwinbox’s investors include Microsoft, Salesforce, Sequoia, TCV, Peak XV (formerly Sequoia India), and Lightspeed.
The company, which was founded by Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni, has, over the past decade, expanded internationally, especially in the US,Asia Pacific, the Middle East, and the UK.
In October of 2024, the HR tech firm, that provides a simple and easy-to-use interface to perform daily HR transactions and asks, had witnessed a 58 per cent year-on-year increment in revenue, to Rs 392 crore in FY24. At the time, the Indian HR tech startup, which is hardly a decade old, had reported a more than 3.2 fold revenue increase over the last couple of years, with an 87 per cent hike in terms of global revenue. In fact, a good 50 per cent of its new annual recurring revenue (ARR) in FY24 was be attributed to it spreading its arms into the Middle East, Southeast Asia and North America.
In 2022, Darwinbox had raised funding at a valuation of over $1 billion.
