Darwinbox, one of Asia’s leading enterprise HR technology platforms, has announced the closing of a $15 million funding round led by Salesforce Ventures.
Most recently, the HR tech startup raised a Series B round in September 2019 led by Sequoia Capital India with participation from existing investors Lightspeed India, Endiya Partners and 3one4 Capital, bringing the total investment in the company to $35 million.
The company’s revenues have grown by over 300 per cent since the last round of funding.
Commenting on the development, Alex Kayyal, Partner, Salesforce Ventures, said, “Darwinbox is delivering innovation for Asia’s leading enterprises and has emerged as a top platform of choice. We are excited to be a part of Darwinbox’s journey and support them in their mission.”
Jayant Paleti, Co-Founder, Darwinbox, said, “Globally, more and more enterprises are abandoning legacy offerings in favour of our modern, agile HCM platform that helps them stay ahead of change.”We will work with Salesforce closely to maximize value to our customers, continue building out our product stack and accelerate global expansion.”
Speaking of the plans to utilize the newly raised fund, Chaitanya Peddi, Co-Founder, Darwinbox, said, “One of the top priorities is to increase our global footprint and accelerate the expansion in Southeast Asia as well as the Middle East.”
“We will be hiring for several leadership positions in our India and global offices and also onboard partners to reach and serve Enterprise customers. We will be adding 200 people to the team across geographies,” he said.
Founded in 2015 by Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni, Darwinbox was recognized as one of the most preferred HCM platforms in APAC by Gartner, more than 500+ global enterprises and unicorns such as Arvind, Dr Reddys, Kotak, Mahindra, Paytm, Swiggy, and Myntra have digitized their HR with Darwinbox.
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