Darwinbox - India's Newest SaaS Unicorn

HR management platform Darwinbox has joined the coveted unicorn club post the latest Series D funding round of $72 million from Technology Crossover Ventures (TCV), 3one4 Capital, Salesforce Ventures, Sequoia Capital India, Lightspeed India, Endiya Partners, JGDEV and SCB 10X. The firm has so far raised over $110 million and has more than tripled its valuation since the last fund raise.

• Darwinbox turns unicorn after raising $72 million in Series D
• It is amongst the fastest Indian SaaS startups to reach this milestone
• Darwinbox is the first Asian entrant and the youngest addition to Gartner's Magic Quadrant for Cloud HCM platforms with the highest rating of 4.8, globally
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Darwinbox’s platform has helped its enterprise customers and partners establish stronger relationships, deliver clearer communication, and implement efficient decision making across a workforce and ecosystem that is more diverse and distributed today.

As a generational shift towards an employee-centered culture enters the HR domain, Darwinbox now powers over 1.5 million employees across 90 countries and is a SaaS leader in HCM. Darwinbox provides its services to more than 650 enterprise customers including Tata, DLF, Paytm, Swiggy and Adani Wilmar and has 1.5 million users across Asia, Middle East and North Africa. The company is also the first Asian entrant and the youngest addition to Gartner's Magic Quadrant for Cloud HCM platforms with the highest rating of 4.8 globally! This is a true testament to an incredible team that has shown great enthusiasm, pushed boundaries, and a never-settle-for-the-status-quo attitude that has fuelled this phenomenal growth.

Darwinbox will infuse the proceeds from the fresh round of funding towards strengthening its talent pool and catapult it to the next stage of growth as well as in R&D to finetune its products to cater to new geographies such as the US.

Since 3one4’s seed investment in the first round, we have seen Rohit, Jayant, Chaitanya, and the team grow the company into a leader in this space and execute towards an ambitious vision with unwavering perseverance. Darwinbox is now a scale example of the terrific SaaS product innovation being built in India for the world! #1inabillion

3one4 Capital has been an early partner and we are delighted to continue working with and investing in the Darwinbox team as they join other Indian SaaS leaders 🚀 globally!