Darwinbox , India’s fastest growing enterprise Human Resource Management (HRMS) platform, has recently concluded a new round of funding, closing at a whopping $15 million. This round was led by Sequoia India and saw participation from existing investors Lightspeed India Partners, Endiya Partners, and 3one4 Capital.
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With this round of funding, Darwinbox, now plans to expands across India and into Southeast Asia and builds out an ecosystem of integrated third-party solutions providers on its platform.
Rohit Chennamaneni, Co-founder, Darwinbox, said in a statement, “Asia HR technology market is estimated to be at $9 billion. Also, the increase in mobile users in geography meant newer possibilities in the way organisations can engage and empower their employees. Enterprises in Asia are migrating to the cloud at a much faster pace than the entire world and we are excited to lead the charge with cutting edge HR technology that is tailored to the Asian context.”
“We led the Series A financing in May 2017 when Darwinbox had about 50,000 employees on their platform; the platform now has 500,000 employees on it. Kudos to the founders Rohit, Jayant and Chaitanya as well as all their team members at Darwinbox,” said Dev Khare, partner at Lightspeed.
Darwinbox’s cloud-based end-to-end HRMS platform automates HR processes across the entire employee lifecycle – managing recruitment, onboarding, core HR, time and attendance, expense management, payroll, employee engagement, performance management and people analytics. Their easy-to-use interface with a high degree of configurability to suit local enterprise context has helped them acquire a large customer base within a short time.