Darwinbox Secures $40 Mn from Ontario Teachers’ TVG to Drive Global Expansion and AI Innovation
Darwinbox, the Hyderabad-based HR tech unicorn, has raised $40 million (approx. INR 335 crore) in a fresh funding round led by Teachers’ Venture Growth (TVG), the late-stage investment arm of Ontario Teachers’ Pension Plan. This investment comes just months after the company closed a $140 million funding round earlier this year, further solidifying its position as a leading human capital management (HCM) platform.
The latest round includes a mix of primary and secondary funding, indicating strong investor confidence and continued interest from both new and existing shareholders. In an official statement, Darwinbox stated that the fresh capital will be utilized to accelerate global expansion, with a strong focus on the North American market, while also doubling down on AI-powered capabilities across its product suite.
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Expanding Global Footprint and AI-Driven HR Solutions
Founded in 2015 by Jayant Paleti, Chaitanya Peddi, and Rohit Chennamaneni, Darwinbox has quickly risen to prominence in the HR tech space. The company provides a comprehensive cloud-based HCM suite that helps enterprises streamline and digitize core HR functions. These include payroll, recruitment, performance management, employee engagement, and core HR operations, making it a one-stop platform for end-to-end human resource management.
With the latest funding, Darwinbox plans to scale its operations further across North America, a key market for the company’s long-term growth. The region represents significant opportunities due to its mature HR tech ecosystem and increasing demand for AI-integrated, cloud-based HCM solutions.
Darwinbox has already built a strong presence across Asia, the Middle East, and India, serving over 800+ enterprises and millions of employees. The company’s focus on AI innovation aims to offer more personalized employee experiences, predictive analytics, and automation tools that reduce HR workload and enhance decision-making.
Backing from a Global Investor with Long-Term Vision
The participation of Ontario Teachers’ Pension Plan, through its TVG arm, marks a significant milestone for Darwinbox. TVG is known for backing late-stage technology companies with strong fundamentals and long-term potential. The partnership not only brings capital but also strategic support as Darwinbox charts its expansion into Western markets.
Speaking about the investment, Darwinbox’s cofounders expressed confidence in their ability to redefine the global HCM landscape with next-gen AI tools and localized solutions for enterprises of all sizes.
A Rising Star in the HR Tech Space
Darwinbox’s growth trajectory reflects a broader shift in how companies manage talent in a digital-first world. As organizations look to modernize HR functions, platforms like Darwinbox are uniquely positioned to lead the transformation by offering flexible, scalable, and intelligent solutions.
With this fresh $40 million injection, Darwinbox is set to take on bigger global players in the HCM space while continuing to innovate in areas like generative AI, employee experience, and predictive HR analytics.