Technology start-up Darwinbox secures USD 15 Million in series B funding round

Telangana, India based HR management start-up, Darwinbox raises USD 15 million capital led by Salesforce Ventures in series B round. The funds bring the total investment in the firm to USD 35 million and the revenues have grown by over 300% since the last round of funding. 

Investors: The deal was finalized in the series B funding round led by Salesforce Ventures and also included the participation of previous investors like Endiya Partners, Lightspeed India and 3one4 Capital. The funds came at a moment when the start-up is looking to expand its reach in the west Asia and southeast Asia.

What the funding is for: We will capitalize the new capital to speed up the process of introduction of new exciting and intimidating solutions and advance research and development to deploy deep technological facilities. The firm also focuses on developing a product which is in line with HR demands of midsize and business enterprise.

Founders of the company: Jayant Paleti, Chaitanya Peddi, Rohit Chennamaneni

Primary objective of the company: The association aims to engage and empower employees across the entire lifestyle with a simpler, smarter, mobile based application facilitated by cloud based human resource management powered with AI and machine learning. 

Legal name of the company: Darwinbox Digital Solutions Pvt Limited

Founded date: October 2015

About the company: Darwinbox is a privately held organization which comes under the IT and computer industry, established in 2015. Its headquarters is located in Hyderabad, Telangana which has a work strength of 201-500 employees. They are progressing with a vision to transform the interaction between technology and the workplace. They are considered to be the one of the most preferred HCM platforms in APAC by Gartner. They deal with various specialties such as enterprise software, payroll management, software as a service and much more. 

What the CEO has to say: “Cloud adoption in Asia is growing at a monumental pace and the pandemic has only amplified the need to go digital. Darwinbox is delivering innovation for Asia’s leading enterprises and has emerged as a top platform for choice”. Said Jayant Paleti, CEO of Darwinbox. 

“From our perspective there is so much to learn from Salesforce. We can use the power of their network, their distribution and their partner ecosystem in all the geographies that we want to be successful in”. Said Chaitanya Peddi, Co-founder of Darwinbox. 

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