Darwinbox, an HR Technology platform company has raised a funding of USD 15 Mn. This round was led by Sequoia India along with participation from existing investors Lightspeed India Partners, Endiya Partners and 3one4 Capital.
Darwinbox’s cloud based end-to-end Human Resource Management (HRMS) platform caters to HR needs across the entire employee lifecycle (hire-to-retire).
When asked about how Darwinbox will use this funding, Chaitanya Peddi, Co-founder of Darwinbox shares, "Our product focus is on solving the challenges of people function in large and diverse organizations with complex structures using the best of technologies while providing stellar user experience through intuitive and interactive interfaces. We will invest heavily in further strengthening our platform, especially our analytical layer with AI and ML capabilities to aid decision making.”
“Talent is core to the success of any business. Our mission from day one has been to build a human capital management system, that puts employees squarely at the center and enables orgs to engage, empower & elevate the potential of their workforce. This has made us the HR platform of choice for 200+ leading Asian enterprises.” says Jayant Paleti, Co-founder, Darwinbox. “Partnering with marquee investors will accelerate our penetration into the Asian Enterprise market, drive product innovation and maximize value delivered to customers.”
Harshjit Sethi, Principal, Sequoia Capital India LLP, said, “Recruiting, retaining and upskilling talent is a top priority of every company today. Darwinbox is the clear emerging leader in the fast growing cloud-based HR management software space in Asia. The Darwinbox team combines world-class product sensibilities with a unique understanding of local nuances in HR in Asia to provide a compelling and delightful product to their customers, a sentiment we heard expressed by several HR leaders. Sequoia India is thrilled to partner with the team to help them expand aggressively in the coming years.”
Darwinbox has over 200 customers with 500,000+ employees spread across 50 countries worldwide. The company has a dominant presence in sectors such as Pharma, Healthcare, Manufacturing, BFSI, Consumer Products, Technology and Retail.
“Asia HR technology market is estimated to be at USD 9 billion. Increase in mobile users in the geography meant newer possibilities in the way organizations can engage and empower their employees. Enterprises in Asia are migrating to the cloud at a much faster pace than the entire world and we are excited to lead the charge with cutting edge HR technology that is tailored to the Asian context.” said, Rohit Chennamaneni, Co-founder, Darwinbox.