Darwinbox: “A UNICORN”!

Darwinbox, a startup by Jayanth Paleti, Rohit Chennamaneni, and Chaitanya Peddi, established in 2015, provides HR management resource needs like attendance, payroll, and employee onboarding. It has accelerated its growth by becoming the “Fourth Unicorn” of 2022. It now has a valuation of 1 billion dollars after a $72 million investment made by the US-based firm Technology Crossover Ventures (TCV) in a Series D funding. The ability to build innovative, agile, and user-friendly solutions has made them the best choice for several leading companies.

After the latest investment, this Hyderabad- Singapore-based company has raised a total of $110 million from its investors. Other investors of Darwinbox, including Sequoia, Lightspeed India, and Salesforce Ventures, were also a part of the funding.

Also read our previous article about DarwinBox here: The story behind India’s fastest growing HR Tech company: Darwinbox

Darwinbox is India’s only unicorn SAAS firm whose bulk revenue comes mainly from Indian customers.

With the new funds, the vision is to expand its wings in Asia and bring in new hires who will be added to the company’s customer support, engineering, and sales and marketing teams to promote the business growth and thus expects its overall team to grow by 100%. This milestone is undoubtedly an inspiration and hopes to many upcoming startups to create a mark in the industry. We wish them the best of luck with their future plans!