Darwinbox: A Unicorn Achievement!
Founded in 2015 by Jayanth Paleti, Rohit Chennamaneni, and Chaitanya Peddi, Darwinbox has emerged as a leading provider of HR management solutions, including attendance, payroll, and employee onboarding. The company has achieved remarkable growth, becoming the “Fourth Unicorn” of 2022 with a valuation of $1 billion, thanks to a $72 million investment from the US-based firm Technology Crossover Ventures (TCV) during its Series D funding round.
With this latest investment, Darwinbox, headquartered in Hyderabad and Singapore, has now raised a total of $110 million. Other notable investors, such as Sequoia, Lightspeed India, and Salesforce Ventures, also participated in the funding round.
Darwinbox stands out as India’s sole unicorn SaaS firm, with the majority of its revenue coming from Indian customers. The new funds will support its expansion into Asia and enable the company to bolster its teams in customer support, engineering, and sales and marketing. Darwinbox anticipates doubling its team size to drive further business growth.
This milestone is a testament to the company’s innovation and success, serving as an inspiration to other startups aiming to make their mark in the industry. We wish Darwinbox continued success in its future endeavors!