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HR technology firm Darwinbox raises $15m in new funding, eyes Middle East expansion

HR technology firm Darwinbox raises $15m in new funding, eyes Middle East expansion

Investment round led Salesforce Ventures, with Sequoia and Lightspeed participating

Enterprise HR technology platform Darwinbox has closed a $15m funding round, led by Salesforce Ventures, with participation from existing investors, Sequoia and Lightspeed. The investment will fund the expansion of the company into the Middle East.

The fast-growing Singapore-based technology platform today counts marquee brands such as Puma, Nivea, Tata, Mahindra, Adani, Kotak, TVS, wework, AXA, Tokio, and Dr.Reddy’s as customers.

The company has grown 300 per cent since its last round of funding in 2019, and now has a customer base of over 500 global enterprises, providing HR management for over one million employees working in more than 60 countries. The company has a significant presence in financial services, retail, hospitality and manufacturing sectors.

Read: Saudi tech startup Foodics raises $20m in Series B funding

Darwinbox witnessed a surge in adoption during the pandemic, because the company’s integrated product suite includes tools that are adapted for new modes of work, such as remote working, including touchless attendance, digital rewards, employee engagement, digital hiring and onboarding. The company says it onboarded over 180 customers during the lockdown, all implemented remotely.

Darwinbox’s cloud-based human resource management (HRMS) platform caters to HR needs across the entire employee lifecycle. The platform includes Arabic language support and configurations to match local HR regulations.

“More and more enterprises are abandoning legacy solutions in favour of our modern, agile HCM platform that helps them stay ahead of change,” said Jayant Paleti, co-founder, Darwinbox. “With the new funding, we plan to accelerate our expansion in the Middle East, onboard new partners, drive product innovation and significantly grow our team in the region.”

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