Hyderabad-based HR tech unicorn Darwinbox has raised $140 million in a funding round co-led by Partners Group and KKR, with additional participation from Gravity Holdings. The latest funding will be used to enhance product development and expand the company’s global footprint.
“This investment is a testament to Darwinbox’s strong fundamentals and the trust we have earned from our 1,000+ global customer base,” said Jayant Paleti, Co-founder of Darwinbox.
“By placing the employee experience front and center — and ensuring our platform is deeply configurable to diverse local needs — we have helped transform HR for enterprises globally. 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,” he added.
Strengthening Global Presence
Founded in 2015, Darwinbox provides cloud-based Human Capital Management (HCM) software that streamlines HR operations across the entire employee lifecycle. Over the past two years, the company has witnessed a fivefold growth in revenue in global markets, with over 60% of its revenue now coming from new markets.
Having already established a strong presence in Asia Pacific, the Middle East, the United Kingdom, and the United States, the firm is now doubling down on its expansion into North America, where it has gained significant traction since entering the market two years ago.
Strategic Backing and Market Potential
Darwinbox has received investments from leading global players such as TCV, Microsoft, Salesforce Ventures, Peak XV, Lightspeed, and Endiya Partners. The company has positioned itself as a disruptor in the rapidly growing HR tech market, challenging legacy platforms with its AI-powered solutions and deep product innovation.
Cyrus Driver, Managing Director, Private Equity, Partners Group, commented on the investment:
“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. We look forward to working with Darwinbox’s talented management team on driving future growth. The company represents another exciting addition to our private equity growth portfolio.”
Enterprise Clientele and Market Reach
Currently, Darwinbox serves over 900 enterprise customers and nearly three million employees across 130 countries. Some of its notable clients include Starbucks, Nivea, AXA, Cigna, WeWork, Crisil (an S&P company), and T-Systems.