HR tech Start up Darwinbox Enters unicorn Club with the $ 72 Mn funding
- ByStartupStory | January 25, 2022
HR tech start up Darwin box has elevated $ 72 MN in a funding round led by Technology cross over Ventures( TCV).
With this capital infusion, the start up’s valuation crossed the $ Bn mark, making it the third Indian unicorn minted in 2022.
Previously existing investors Salesforce Ventures, Sequoia India, light speed India, Endiya Partner, 3 One 4 capital, JGDEV and SCB 10X also participated in the round.
Approximately, the exact time last year, Darwin box had raised $ 15 Mn in funding led by sales force Venture to expand across the globe.
It had risen another $ 15 Mn from Sequoia Capital in 2019 and $ 4 MN in a sequence A round in 2017.
To date, it has raised a total of $ 110 MN in venture capital.
Darwin box aims to deploy the freshly infused funds towards fueling its global expansion, product development, and hiring talent across multiple teams.
Founded in 2015 by Chaitanya peddi, Jayant Paleti and Rohit Chennamaneni, Darwin box consists of a cloud based HR tech start up that caters to companies’ HR needs across recruitment onboarding, core transactions ( leaves, attendance, directory) pay roll, travel and people Analytics among others.
“We get most agitated investing behind exemplary founders that are fundamentally transforming large industries with a highly resonant product.
I am delighted to back a distinguished team, that is doing exactly that in a highly impactful, emanating HR technology space and partner with them on their journey to global HCM leadership said Gopi Vaddi, general partner, TCV.
Some of the start ups in TCV’s portfolio include Netflix, Facebook, Expedia, spotify, Airbnb, Go Daddy and Gitlab.
According to TCV, a total of 79 start ups in its portfolio have had an earliest public offering (IPO)
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