Last Updated on: Thursday, February 27, 2025 11:38 am by Economic Edge Team | Published by: Economic Edge Team on Thursday, February 27, 2025 11:38 am | News Categories: Business
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Summary: Darwinbox, a leading HR tech platform, is in advanced talks to raise $150 million in a funding round led by KKR and Partners Group, valuing the company at around $950 million. The investment includes both primary and secondary components, with early investors expected to exit partially or fully. Founded in 2015, Darwinbox has seen rapid growth, with a 58% revenue surge in FY24 driven by international expansion. The funding is seen as a step towards a potential IPO later this year, solidifying its position in the global HR tech market.
The funding round will comprise both primary and secondary investments. KKR is anticipated to contribute $50 million, while Partners Group is expected to invest $55 million. Early backers such as Peak XV, Lightspeed Ventures, StartupXseed, and Endiya Partners are likely to partially or fully exit their stakes through the secondary component of the deal.
Founded in 2015 by Jayant Paleti, Rohit Chennamaneni, and Chaitanya Peddi, Darwinbox offers a comprehensive cloud-based Human Capital Management (HCM) platform. The platform addresses various HR functions, including recruitment, onboarding, leave management, attendance tracking, payroll processing, and people analytics. The company’s clientele boasts notable names such as BigBasket, PineLabs, IIFL Finance, MakeMyTrip, and Unacademy.
In the financial year ending March 31, 2024, Darwinbox reported a 58% surge in revenue, reaching ₹392 crore. This growth was primarily driven by the company’s international expansion and significant investments in research and development. Notably, international markets contributed to 87% of the total revenue, marking a fivefold increase over the past two years.
The upcoming funding round is perceived as a strategic move to realign the company’s capitalization structure ahead of a planned initial public offering (IPO) slated for later this year. While specific details regarding the IPO are yet to be disclosed, the company has expressed intentions to continue its growth trajectory and enhance its market presence.
Darwinbox’s impressive growth and its ability to attract substantial investments underscore its pivotal role in the evolving HR technology landscape. As organizations worldwide increasingly adopt digital solutions for HR management, Darwinbox is well-positioned to capitalize on this trend and expand its global footprint.
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