Canada’s Teachers’ Venture Growth makes follow-on investment into Darwinbox
The Hyderabad-based human capital management tech platform has more than 1,400 customers globally.
Human capital management platform Darwinbox has raised a follow-on investment from Teachers' Venture Growth (TVG), the late-stage venture and growth investment platform of Ontario Teachers' Pension Plan. The value of investment was not disclosed.
According to a statement, this is the second investment by TVG into , Hyderabad-headquartered Darwinbox, after its first investment in 2025.
Founded in 2015, Darwinbox serves more than 1,400 companies and 4.5 million employees globally. The company said it has continued to scale strongly, growing at a 70% CAGR over the last five years, across its major markets, including the United States, the Middle East, India, and Southeast Asia.
“Our continued investment reflects our conviction in Darwinbox's ability to redefine workforce management for large enterprises,” said Darius Vakil, Managing Director, Teachers' Venture Growth. “Launching Cortex, an AI-native platform, is yet another example of agility and customer centricity that is core to this team. This is a key milestone for the company, especially as it looks to build its business in North America.”
Darwinbox said it continues to invest across its HCM product suite, enabling greater workflow automation, streamlining of HR operations and delivering more personalised employee experiences. In August, the company launched Darwinbox Cortex, an AI-native HCM platform.
“Enterprise software is undergoing a generational shift towards AI-native platforms. With Cortex, we moved early and are leading that shift in HCM, with several industry-first innovations including the first Context Graph in the category. Our focus now is to work closely with our customers, drive real adoption and value, and scale AI usage across the enterprise,” said Jayant Paleti, Co-CEO, Darwinbox.
Darwinbox is backed by investors including KKR, Partners Group, OTPP, Microsoft, Salesforce Ventures, TCV, and Peak XV Partners.
Ontario Teachers' Pension Plan Board (Ontario Teachers') is a global investor with net assets of $303.2 billion as on June 30, 2026.