India-based HR tech platform Darwinbox has raised $72 million in funding led by Technology Crossover Ventures (TCV) at a valuation of $1 billion.
TCV is a US growth-stage investor best known for its investments in notable tech firms like Netflix, Facebook, Spotify, Airbnb, GoDaddy, and Zillow. According to its website, TCV has raised over $19 billion in capital, invested more than $16 billion in 350+ technology firms, and completed more than 145 public offerings and strategic acquisitions.
The round was also joined by existing investors Salesforce Ventures, Sequoia Capital India, Lightspeed Ventures, SCB 10X, JGDEV, Endiya Partners, and 3One4Capital.
Founded in late 2015, Darwinbox caters to a firm’s human resource (HR) needs across the employee life cycle including recruitment, onboarding, leaves, payroll, travel and expenses, employee engagement, performance management, and others.
The Hyderabad-headquartered firm targets mid- to large-size enterprises with 500 employees and above, counting names like Zalora, Tokopedia, Zilingo, JG Summit Holdings, Indorama, Wilmar, Djarum, and Century Pacific as some of its existing clients. Darwinbox serves over 650 enterprises with 1.5 million employees globally.