Darwinbox Seeks Fresh Funding of Up to $150 Mn
In a significant development in the Indian HR tech space, Darwinbox, a popular HR platform, is reportedly in talks to raise $120-150 million in a fresh funding round. The round, which will be led by global private equity firms KKR and Partners Group, is expected to be a mix of primary and secondary infusion. According to a Mint report, the funding round is expected to value the company at around $950 million.
Darwinbox, founded in 2015 by Chaitanya Peddi and Rohit Chennamaneni, has been making waves in the HR tech space with its innovative solutions for employee lifecycle management. The platform provides a range of services, including recruitment, onboarding, performance management, and employee engagement, among others. With its user-friendly interface and AI-powered algorithms, Darwinbox has been able to attract a significant customer base across various industries.
The company has been growing rapidly, with its revenue growing by over 100% in the last two years. According to reports, Darwinbox has over 400 clients across India and Southeast Asia, including top companies such as Oyo, Zomato, and Byju’s.
The fresh funding round is likely to be used to further accelerate the company’s growth, expand its offerings, and strengthen its presence in the international market. With the funding, Darwinbox is expected to increase its headcount, enhance its technology capabilities, and establish itself as a leading player in the global HR tech space.
The involvement of global private equity firms KKR and Partners Group in the funding round is significant, as it indicates the confidence these investors have in Darwinbox’s growth potential. KKR, a leading global investment firm, has a strong track record of investing in Indian startups, while Partners Group is a Swiss-based private equity firm with a significant presence in the Asia-Pacific region.
The funding round is also expected to be a mix of primary and secondary infusion, which means that existing investors may also be participating in the round. This could include existing investors such as Endiya Partners, Stellaris Venture Partners, and TripLion Capital, among others.
The Indian HR tech space has been growing rapidly in recent years, driven by the increasing adoption of digital technologies in the workplace. According to a report by ResearchAndMarkets.com, the Indian HR tech market is expected to grow at a CAGR of 25% between 2020 and 2025, driven by factors such as the need for greater efficiency, reduced costs, and improved employee engagement.
Darwinbox’s success in the HR tech space is a testament to the company’s innovative approach and commitment to providing solutions that meet the evolving needs of Indian businesses. With its fresh funding round, the company is well-positioned to continue its growth trajectory and establish itself as a leading player in the global HR tech space.
In conclusion, Darwinbox’s fresh funding round of up to $150 million is a significant development in the Indian HR tech space. With the involvement of global private equity firms KKR and Partners Group, the company is well-positioned to accelerate its growth, expand its offerings, and strengthen its presence in the international market. As the HR tech space continues to evolve, Darwinbox is poised to play a leading role in shaping the future of employee lifecycle management in India and beyond.
News Source: https://inc42.com/buzz/darwinbox-seeks-fresh-funding-of-up-to-150-mn-report/
