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.