Darwinbox

Darwinbox is a cloud-based human capital management (HCM) solution designed for enterprises to manage their talent. It offers various features to help companies attract, engage, and retain their employees including talent management, people analytics, employee engagement, rewards and recognition, time and attendance, core HR, recruitment and compensation management, among others. The platform allows companies to manage employee data, assess and reward performance, conduct pulse surveys, and automate HR processes such as recruitment and time tracking. The platform competes with a range of vendors, including SAP and Oracle. Other services offered include travel and expense management.

Key customers and partnerships

As of April 2024, the company served over 2.5 million employees across 900 enterprises, (up from 700+ enterprises in January 2023, and 200+ in late 2019). Some of its clients include Adani (multinational conglomerate), Zalora (online retailer), Mahindra (automotive manufacturer) and TVS (automotive company), among others.

In October 2023, the company partnered with PwC UK to bring Darwinbox’s HR solutions to firms across the UK and EU markets. Previously, in January 2023, Darwinbox partnered with Microsoft to integrate its product with the Microsoft product ecosystem and co-innovate solutions to enhance employee experience. The partnership was expected to accelerate Darwinbox’s go-to-market efforts.

Funding and financials

In January 2023, Darwinbox raised ~USD 4.9 million from the State Bank of India (SBI) in an extended Series D round. The funds were allocated for marketing, capital expenditure, and general corporate purposes. Notably, the company reached unicorn status via its USD 72 million funding round in January 2022.

During 2021, Darwinbox’s total revenue doubled and revenue from the Southeast Asia region (~20% of total revenue) tripled year-over-year.