Darwinbox offers a mobile-first, AI-enabled human capital management platform. Credit: 3rdtimeluckystudio/Shutterstock.
Darwinbox, a human resource (HR) technology platform, has raised $140m in funding to accelerate its international growth.
The investment comes through definitive agreements with Partners Group and funds managed by KKR, who will co-lead the funding round, with additional participation from Gravity Holdings.
Founded in 2015, Darwinbox offers a mobile-first, AI-enabled human capital management platform and serves more than 1,000 enterprises worldwide.
The company said it plans to utilise this new capital to enhance its technological capabilities and expand its global presence further.
Darwinbox co‐founder Jayant Paleti said: “This investment is a testament to Darwinbox’s strong fundamentals and the trust we have earned from our 1,000+ global customer base.
“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.”
Since its inception, Darwinbox has made significant strides in international markets, including Asia Pacific, the Middle East, the United Kingdom, and the US.
In the past two years alone, the company said it witnessed a fivefold revenue growth in these regions, with over 60% of new revenue now coming from international markets.
The platform is used by more than three million employees across major global brands, including Starbucks, Nivea, AXA, Cigna, WeWork, Crisil (an S&P company), and T-Systems.
Avendus Capital acted as the financial advisor and investment banker for this transaction.
Partners Group managing director for private equity Cyrus Driver said: “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.”
KKR India private equity head and partner Akshay Tanna said: “Darwinbox has established itself as a leading player in the human capital management space in a short span of time through its focus on innovation and customer centricity. We are pleased to support Darwinbox on its next stage of growth and will look to draw from our global network and expertise to accelerate its international expansion ambitions.”
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