HR platform Darwinbox raises Rs 110 cr from Salesforce Ventures

Leading enterprise HR technology platform Darwinbox on Tuesday said it has closed the $15 million (nearly Rs 110 crore) funding round led by Salesforce Ventures.

In September, the company raised funds in its Series B round led by Sequoia Capital India with participation from existing investors Lightspeed India, Endiya Partners and 3one4 Capital, bringing the total investment to $35 million.

The Cloud-based SaaS HR technology platform said it aims to accelerate digital HR adoption and deepen product offering with the fresh funding.

“Globally, more and more enterprises are abandoning legacy offerings in favour of our modern, agile HCM (Human Capital Management) platform that helps them stay ahead of change” said Jayant Paleti, Co-founder, Darwinbox.

“We will work with Salesforce closely to maximise value to our customers, continue building out our product stack and accelerate global expansion”.

The company revenues have grown by over 300 per cent since the September round of funding.

“Darwinbox is delivering innovation for Asia’s leading enterprises and has emerged as a top platform of choice,” said Alex Kayyal, Partner and Head of International, Salesforce Ventures.

Founded by Chaitanya Peddi, Paleti and Rohit Chennamaneni, Darwinbox’s new HCM platform helps enterprises empower, engage and elevate the potential of their workforce.

Darwinbox’s HR technology powers more than 500 global enterprises with over one million employees spread across 60 countries.

Some of the customers include Adani, Mahindra, Kotak, TVS, Arvind, NSE, Ujjivan Small Finance Bank, Bharti AXA, Dr Reddy’s, Nivea, Puma, T-Systems, Swiggy, Bigbasket, Delhivery and more.

“We will leverage the new investment to speed the introduction of exciting new solutions and advance R&D to deploy deep-technology capabilities,” said Peddi.