Darwinbox secures $40M from Teachers’ Venture Growth
The freshly raised capital will be utilised to fuel its expansion in the North American market and strengthen its agentic AI capabilities.
AI-driven human capital management (HCM) platform has raised $40 million from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of the Ontario Teachers’ Pension Plan.
The freshly raised capital will be utilised to fuel its expansion in the North American market and strengthen its agentic AI capabilities.
The Hyderabad-based firm claims to have tripled its business year-on-year in the region, counting enterprises such as EXL, Virtusa, Orion Innovation, Ephicacy, Apollo.io, Nivea, WeWork, Zara, Starbucks, and Adidas among its customers.
“We are pleased to partner with an exceptional team that has built and scaled Darwinbox into a leading HR technology company. With an easily customizable, AI-powered full-stack offering, and customer centricity at its core, Darwinbox continues to drive impressive adoption across large enterprises globally. We look forward to bringing our global network and expertise to support the company’s future growth.” said Darius Vakil, Director of TVG in India.
The latest funding follows a $140 million round in March led by Partners Group and KKR. TVG will acquire a stake in Darwinbox through primary and secondary transactions, it added.
The company is backed by KKR, Partners Group, Microsoft, Salesforce, Peak XV, Lightspeed, and TCV.
“We’re thrilled to welcome TVG as partners in our next stage of scaling,” said Jayant Paleti, Co-Founder of Darwinbox.
“HR tech, when done right, can unlock outsized value for every enterprise, yet the old guard of HCM vendors still falls short of that leap. Darwinbox exists to change that story, building the next-gen HCM company, global by design, AI‑first at the core, and relentlessly focused on customer outcomes”, he added.
At present, the firm serves over 1,000 enterprises and 4 million employees across 130 countries. The company said it is investing in agentic-AI capabilities and recently became the first HCM platform to support the Model Context Protocol (MCP), enabling AI agents to interact securely with its systems.
Avendus Capital served as Darwinbox’s financial advisor and investment banker for the transaction.
Founded in 2015, Darwinbox enhances talent management through employee experiences and cutting-edge AI technology. Its cloud-based HCM software addresses HR needs throughout the entire employee lifecycle.
Edited by Jyoti Narayan