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, 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.

Key customers and partnerships

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. Microsoft has also made an undisclosed equity investment in Darwinbox. As of January 2023, Darwinbox serves over 700 clients, up from 200 in late 2019, covering more than 2 million employees across over 90 countries. Some of its clients include Zalora (online retailer), Adani (multinational conglomerate), Mahindra (automotive manufacturer), TVS (automotive company), National Stock Exchange and Ujjivan Small Finance Bank among others.

Funding and financials

In January 2023 , it 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. This followed an investment from Microsoft Corporation worth USD 4 million in November 2022 . At the time Darwinbox announced plans to increase its headcount by 500 globally and achieve profitability in India by 2023 and Southeast Asia and the Middle East by 2024. The company also aimed to expand its global presence in New Zealand, Japan, the US, and Australia over the next three years.

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