Darwinbox, the AI-driven, mobile-first HR technology startup, has raised $140 million in a funding round led by KKR and Partners Group, with additional participation from Gravity Holdings. With this investment, Partners Group has taken a $75 million stake in the company, reinforcing Darwinbox’s rapid international expansion across the Asia Pacific, Middle East, United Kingdom, and the United States.
Since entering North America in 2023, Darwinbox has gained significant traction, doubling down on its regional presence while establishing a strong global portfolio. The company’s revenue surged 58% in FY24 to $47.3 million (₹393 crore), with over 60% of its earnings now coming from international markets. EBITDA margins improved by 17% year-over-year, reflecting operational growth. Serving over 1,000 enterprise clients and nearly three million employees across 130 countries, Darwinbox has become a trusted HR platform for companies such as Starbucks, Nivea, AXA, Cigna, WeWork, Crisil, and T-Systems.
Recognized as the highest-rated Enterprise HCM platform on Gartner Peer Insights, Darwinbox is the youngest and only Asian company to achieve this distinction. Co-founder Jayant Paleti emphasized that the company’s focus on employee experience and deep configurability has transformed HR operations for enterprises worldwide. Founded in 2015 by Paleti, Rohit Chennamaneni, Chaitanya Peddi, and Vineet Singh, Darwinbox has grown fivefold, attracting investments from TCV, Microsoft, Salesforce Ventures, Peak XV, Lightspeed Venture Partners, and Sequoia. As it expands globally, the company is set to compete with industry leaders like Sage, Oyster, Rippling, and Deel.
