Indian HR-tech startup Darwinbox has raised $140 million in fresh funding to accelerate international expansion, enhance its AI-powered HR platform, and compete with global players like Deel and Rippling.
The round was co-led by KKR and Partners Group, with participation from Microsoft, Salesforce, Sequoia, TCV, Peak XV (formerly Sequoia India), and Lightspeed.
Expanding AI-Powered HR Solutions
Darwinbox offers an end-to-end HR management platform that helps companies:
- Recruit, onboard, and manage employees across multiple geographies.
- Automate payroll, leave, and performance tracking.
- Integrate AI-powered insights to optimize workforce planning.
CEO Jayant Paleti confirmed that the round is an up-round, though the latest valuation remains undisclosed. Reports indicate the company was last valued at over $1 billion, though the latest funding suggests a revised valuation near $950 million.
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AScaling in the U.S. and Beyond
- 60% of Darwinbox’s revenue now comes from outside India.
- The company has 1,000+ enterprise customers, managing HR for over 3 million employees.
- Paleti has relocated to Texas to lead U.S. expansion.
Disrupting Legacy HR Systems
Darwinbox aims to replace legacy players like SAP, Oracle, and Workday with its AI-driven approach. The company is also:
- Doubling down on AI-powered automation for HR workflows.
- Expanding enterprise partnerships, including integrations with Microsoft and Salesforce.
Cyrus Driver, Managing Director at Partners Group, highlighted Darwinbox’s potential:
“They are one of the few companies truly disrupting global HR tech, with the ability to localize at scale.”
With $270M raised to date, The company is positioned to reshape enterprise HR, offering a modern alternative to outdated, fragmented systems while taking on global HR tech giants.
