Founders of Darwinbox
Darwinbox, an India-based enterprise HR tech platform, announced today it has closed a US$15 million funding round led by Salesforce Ventures.
Existing investors Sequoia India and Lightspeed also participated in the round.
As per a press note, the startup plans to utilise the new funds to accelerate its expansion in Southeast Asia by onboarding new partners, improve product innovation and “significantly grow” its team in the region.
Founded in 2015, Darwinbox is a cloud-based SaaS HR tech platform that combines “highly configurable” workflows with “intelligent insights” to help enterprises manage their HR needs across the employee lifecycle.
The firm shared it has witnessed a surge in the adoption of HR tech solutions during the pandemic as employers sought for solutions critical for remote working, including features such as touchless attendance and digital onboarding.
“More enterprises are abandoning legacy solutions in favour of our modern, agile platform that helps them stay ahead of change,” said Jayant Paleti, Co-founder, Darwinbox.
Darwinbox claims it has grown by more than 300 per cent since its US$15 million Series B funding round in September 2019. The Hyderabad-headquartered company further remarked it serves over 500 corporates across more than 60 countries. Notable corporate clients in Southeast Asia include Tokopedia, Alodokter and 99.co.
Also Read: What will the next wave of VC investment in HR tech look like?
“Cloud adoption in Asia is growing at a monumental pace and the pandemic has only further amplified the importance of going digital,” remarked Alex Kayyal, Partner and Head of International, Salesforce Ventures.
“We strongly believe that Asia, with its millennial heavy population and a high affinity to mobile-first products, has requirements that western products are unable to serve,” added Dev Khare, Partner, Lightspeed India.
“75 per cent of the workforce globally will be millennials by 2025. This young workforce wants to be enabled and empowered with the best technology. The most progressive companies understand this,” opined Harshjit Sethi, Principal, Sequoia Capital India.
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Image Credit: Darwinbox
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