Founded in 2015, Darwinbox is a mobile-first and AI-backed HR management startup that helps enterprises manage talent. (Image: Freepik)
HR technology startup Darwinbox on Wednesday announced closing a $140 million funding round co-led by private equity companies Partners Group and KKR with participation from Gravity Holdings.
Founded in 2015, Darwinbox is a mobile-first and AI-backed HR management startup that helps enterprises manage talent. The company offers cloud-based Human Capital Management (HCM) software to cater to a company’s HR needs across the entire employee lifecycle.
The company is currently backed by global investors including TCV, Microsoft, Salesforce Ventures, Peak XV, Lightspeed and Endiya Partners.
“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,” said Jayant Paleti, Co‐founder of Darwinbox in a statement.
The company had last raised $5 million in January 2023 as part of its Series D round at a post-money valuation of $945 million, as per data from Tracxn. In the past nine rounds, Darwinbox has raised $140 million in total equity funding.
“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,” said Cyrus Driver, Managing Director, Private Equity, Partners Group.
The firm made its first growth investment in 2013 and has deployed around $2.5 billion in the space to-date. The firm’s recent growth investments include Lumin Digital, a cloud-native digital banking provider and Neara, an AI-powered predictive modeling software platforms for critical infrastructure.
The investment in Darwinbox marks KKR’s latest growth equity investment in India and the region including internet restaurant company Rebel Foods, omni channel eyewear retailer Lenskart, home interior and renovation platform Livspace, and others.
Content retrieved from: https://www.financialexpress.com/business/start-ups-hr-tech-startup-darwinbox-raises-140-million-from-partners-group-kkr-gravity-3768301/.
