Darwinbox Raises $15 Million Fom Sequoia And Others
Hyderabad-based Darwinbox, which operates cloud-based HR solutions firm, has announced the raising of $15 million in fresh funding led by Sequoia Capital, as the company gears up to expand its services beyond India into Southeast Asia. Existing investors Endiya Partners, Lightspeed Ventures and 3one4 Capital also participated in the Series B fundraising.
With the latest investment, the startup has raised a total equity capital of around $20 million.
“Towards the end of 2018, we decided to sell our services outside India, and Southeast Asia was the first geography we zeroed in on,” said Jayant Paleti, Co-founder of Darwinbox.
“We now have six clients in the region, ranging from mid to large enterprises.”
Darwinbox has approximately 200 enterprise clients in India, with its platform servicing around 500,000 employees. It counts large conglomerates such as Tata Group, Mahindra Group, Arvind Group, Kalyani Group and Adani as customers, apart from a good chunk of India’s top pharmaceutical companies.
