HRtech firm Darwinbox raises $140 Million investment co-led by Partners Group and KKR

Darwinbox, a fast-growing HR technology platform, has secured $140 million in funding co-led by Partners Group and KKR, with additional participation from Gravity Holdings. 

The new funding will support Darwinbox’s plan to expand globally and strengthen its research and development efforts.

Major funding round

The latest investment comes on the heels of Darwinbox’s strong momentum since its launch in 2015. The company has now raised more than $255 million in total funding, including $72 million in its Series D round in January 2022, which pushed it into the unicorn club.

Founded by Jayant Paleti, Rohit Chennamaneni, and Chaitanya Peddi, Darwinbox helps enterprises streamline their HR processes with a mobile-first, AI-driven platform.

“This investment is a testament to Darwinbox’s strong fundamentals and the trust we have earned from our 1,000+ global customer base,” said Jayant Paleti, Co‐founder of Darwinbox.

“By placing the employee experience front and center — and ensuring our platform is deeply configurable to diverse local needs — we have helped transform HR for enterprises globally. With top-tier investors backing us, we’re poised to amplify our global momentum and deliver innovative AI‐powered solutions for thousands of enterprises worldwide.”

International expansion

Darwinbox has already established a presence across Asia Pacific, the Middle East, the United Kingdom, and the United States. The company is seeing major growth in Southeast Asia and India, and it has opened offices in Saudi Arabia, the UAE, and the US.

Over the past two years, it has recorded a fivefold increase in international revenue, with more than 60% of new revenue now coming from outside India. Darwinbox plans to use its fresh capital to widen its reach, pursue new markets, and further develop its technology.

AI-powered HR solutions

Known for placing employee experience at the center of its platform, Darwinbox integrates tools such as payroll, talent acquisition, and people analytics into a single cloud-based system.

In recent months, it has rolled out new AI-powered product features and is working on AI-driven assistants to help HR teams with hiring, digital transformation, and engagement.

Last year, the company collaborated with Microsoft to improve the employee experience by integrating Darwinbox’s platform with Microsoft’s suite of tools.

Darwinbox’s client list includes Starbucks, AXA, Nivea, Cigna, and WeWork, among others. Overall, more than 3 million employees from over 1,000 enterprises use Darwinbox’s platform. 

Investors comment

Cyrus Driver, Managing Director, Private Equity, Partners Group, comments, “Darwinbox operates in the rapidly growing HR tech market, which we have been tracking through our thematic research. The company is acting as a key disruptor to legacy platforms in this space, investing heavily in product innovation, generative AI, and global expansion, and is well positioned to take market share. We look forward to working with Darwinbox’s talented management team on driving future growth. The company represents another exciting addition to our private equity growth portfolio.”

Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “Darwinbox has established itself as a leading player in the human capital management space in a short span of time through its focus on innovation and customer centricity. We are pleased to support Darwinbox on its next stage of growth and will look to draw from our global network and expertise to accelerate its international expansion ambitions.”