HR tech platform Darwinbox closes $15m funding led by Salesforce Ventures

photo by Headway on Unsplash

Indian HR technology platform Darwinbox has closed a $15-million funding round led by Salesforce Ventures and joined by existing investors Sequoia Capital and Lightspeed Venture Partners, per a company statement.

“With the new funding, we plan to accelerate our expansion in Southeast Asia, onboard new partners, drive product innovation and significantly grow our team in the region,” said Darwinbox co-founder Jayant Paleti.

In September 2019, Darwinbox raised $15 million in its Series B round from Sequoia India, Lightspeed India Partners, Endiya partners and 3one4 Capital.

The company claims to have registered an over 300% growth since its last funding round in 2019.

Darwinbox counts JG Summit Group, Zalora, Zilingo, Fave, Tokopedia,  Inmobi, Alodokter, Funding Societies, 99.co, Mekong Capital, Nivea, Tokio, Puma, Axa, and Wework among its clients.

Cloud adoption in Asia is growing at a monumental pace and the COVID-19 pandemic has further amplified the importance of going digital, said Salesforce Ventures partner Alex Kayyal, in the statement.

“[Nearly] 75% of the workforce globally will be millennials by 2025. This young workforce wants to be enabled and empowered with the best technology,” said Sequoia Capital India principal Harshjit Sethi.

Darwinbox is a cloud-based SaaS HR technology platform that serves the entire employee life cycle needs for an enterprise. Its services include recruitment, onboarding, attendance, leaves directory, as well as payroll, travel and expenses, employee engagement, performance management, rewards & recognition and people analytics.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.