Darwinbox, an HR technology platform, has raised $140 million in a funding round led by Partners Group and KKR. The round also saw participation from Gravity Holdings.
Partners Group invested through its growth equity strategy, which applies a thematic approach to identify investment opportunities in growth-stage companies globally.
KKR makes its investment from its Asia Next Generation Technology strategy, which seeks to support the growth of innovative, disruptive companies in Asia across consumer technology, software, and FinTech.
The funds raised will be used to deepen its technology leadership and accelerate its international expansion plans.
“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,” said Jayant Paleti, Co-founder of Darwinbox.
“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,” said Cyrus Driver, Managing Director, Private Equity, Partners Group.
“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,” said Akshay Tanna, Partner and Head of India Private Equity, KKR.
Founded in 2015 by Jayant Paleti, Rohit Chennamaneni, and Chaitanya Peddi, Darwinbox is a mobile-first and AI-enabled human capital management platform.
Its cloud-based Human Capital Management (HCM) software caters to an organisation’s HR needs across the entire employee lifecycle. Darwinbox is trusted by over 3 million employees from more than 1000 enterprises across 130 countries.
Darwinbox has expanded internationally across multiple markets, including Asia Pacific, the Middle East, the United Kingdom, and the United States.
Darwinbox has been backed by global investors like TCV, Microsoft, Salesforce Ventures, Peak XV, Lightspeed and Endiya Partners among others.
