News Update

SaaS unicorn Darwinbox opens new worldwide headquarters in Hyderabad, plans IPO in three years

• ByStartupStory     |    November 15, 2022

Human Resources (HR) tech software program provider Darwinbox has opened a brand new worldwide headquarters in Hyderabad and plans to rent round three hundred personnel withinside the subsequent six months, taking the entire group of workers withinside the metropolis to 1,000.

“The new 1000-seat web page spanning 75,000 ft. will empower the brand`s regular commercial enterprise increase globally at the same time as allowing it to in addition faucet into neighborhood talent,” stated Darwinbox`s co-founder Rohit Chennamaneni at some stage in the digital media meet on Monday.

The HR tech corporation currently has 1,2 hundred personnel throughout India, Indonesia, the Philippines, Singapore, Thailand, Malaysia, the UAE, the Kingdom of Saudi Arabia (KSA), and the United States.

“The new group of workers can be introduced over the subsequent six months and they’ll ordinarily be withinside the regions of product and engineering, we can additionally appear to rent extra humans withinside the layout and statistics technological know-how spaces,” Chennamaneni stated.

“Moving into our new Global HQ marks any other critical milestone in our increased journey. This pass will assist us actualize our `from Asia to the world`s imaginative and prescient and aid our bold plans to double commercial enterprise through 2023,” he introduced

The SaaS unicorn is making plans to Darwinbox move for an IPO withinside the subsequent 3 years and charts plans to show worthwhile through FY2024. In FY2021, the employer reported a sales of $three.three million, as according to the filings with the RoC.

“We are making plans to move for an IPO withinside the subsequent 3 years…We are running closer to turning worthwhile through FY24,” Chennamaneni stated.

Darwinbox eyeing more modern markets

Darwinbox is likewise eyeing more modern markets and growth along with Europe and Latin America.

“We have a completely robust presence in India, Southeast Asia, and withinside the Middle East…The US is any other marketplace wherein we’re seeking to make bigger in addition and widespread funding and growth will take place in more modern geographies consisting of Japan, Australia, and New Zealand withinside the subsequent year,” Chennamaneni stated.

Founded in 2015 through Chaitanya Peddi, Jayant Paleti, and Rohit Chennamaneni, Darwinbox presently serves seven-hundred customers and a couple of million customers from huge conglomerates, generation giants, and worldwide manufacturers like JSW, Adani, Vedanta, Mahindra, Kotak, NSE, Ujjivan, Makemytrip, Swiggy, Nivea, Starbucks, and Dominos.

The corporation gives a cloud-primarily based totally HR Technology platform that caters to an organization’s HR wishes throughout the worker lifecycle along with Recruitment, Onboarding, Core transactions (Leaves, Attendance, Directory), Payroll, Travel and Expenses, Employee Engagement, Performance Management, Rewards & Recognition, and People Analytics.

In January 2022, the corporation closed its Series D, Unicorn spherical of $seventy two million investment led through Silicon Valley-primarily based totally TCV, and supported through preceding investors. Existing investors, Lightspeed Venture Partners, Sequoia Capital India, Salesforce Ventures, 3One4 Capital, Endiya Partners, and SCB 10X additionally participated withinside the spherical. The corporation is likewise in talks with IT giant, Microsoft Corporation for a funding of around $four million.

The employer has sufficient budget for the subsequent 3 years, Chennamaneni stated. “At this point, we’ve got the investment for the subsequent 3 years and we might also additionally boost pre-IPO budget if let’s say the more modern markets want extra growth and increase.”

 

Follow Startup Story