Cloud-based HR solutions company Darwinbox Digital Solutions Private Limited has raised USD 15 Million in Series B round of funding led by Sequoia Capital. The company’s existing investors Lightspeed Ventures, 3one4 Capital and Endiya Partners also participated.
Darwinbox was founded by XLRI alumnus Chaitanya Peddi, IIT Madras & IIM Lucknow alumnus Jayant Paleti and Ex McKinsey Consultant and Googler Rohit Chennamaneni. The company is engaged in the business of providing enterprise grade human resource technology products. Darwinbox has roughly 200 enterprise clients in India, with its platform servicing around 500,000 employees.
The company’s clientele includes big corporate groups namely Arvind Group, Times Internet, Dr. Reddy’s, Kalyani Techgorge, Nivea, Emcure and Yashoda Hospitals. In addition, the company also provides its HR software to Paytm, Swiggy, Rivigo, Myntra, InMobi and Delhivery, among others.
Apart from its international expansion, Darwinbox will utilize the fresh funds to grow its leadership team, both in India and Southeast Asia, invest in R&D around artificial intelligence and machine learning, and add new features to its product.
Sequoia Capital is an American venture capital firm that mainly focuses on the technology industry.
Link Legal advised the lead investor Sequoia as well as the existing investors, Lightspeed and Endiya, through a team of Manish Gupta (Partner), Pratyush Khurana (Principal Associate), Rashi Singh (Associate) and Vivek Tiwari (Associate). The Company and the Founders were represented by Rajaram Legal and 3one4 Capital was represented by Tatva Legal.
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