Darwinbox becomes third Indian unicorn after LEAD School and Fractal Analytics in 2022
Darwinbox is an Indian HR startup that provides cloud-based Human Resource Management Software(HRMS)
Darwinbox is an Indian HR startup that provides cloud-based Human Resource Management Software(HRMS) powered by Artificial Intelligence and Machine Learning, founded back in 2015 by Chaitanya Peddi, Jayant Paleti, and Rohit Chennamaneni. The Saas company entered the unicorn club by becoming the third unicorn of 2022. In startups, Unicorn is commonly said to a company that is valued at or over $1 billion.
Darwinbox has raised $72 million in the Series D funding round that is led by US-based Technology Crossover Ventures(TCV). Salesforce Ventures, Sequoia Capital, SCB 10X, ENduya Partners Lightspeed, and other companies also participated in it.
Technology Crossover Ventures(TVC) is the lead investor founded in 1995 that has invested over $16 billion to date across more than 350 companies that include-Dream Sports, Netflix, Spotify, Airbnb, Razorpay, and more.
As per sources, Darwinbox has grown 200% in revenue as compared to the latest fundraise from Salesforces ventures. It added 7,00,000 users to its platform during the same period.
Darwinbox becomes the third Indian firm to achieve this benchmark after LEAD School and Fractal Analytics, in 2022.
At present, Hyderabad-based Darwinbox has 12 offices and an employee base of more than 700 people globally. It has plans to expand its firm to the US in 2022.
“As we scale further and aim for global Leadership, we will be looking to add great talent and hire exponentially across all geographies,” said Paleti(one of the founders of Darwinbox)- as per sources.