Leading HR Tech platform, Darwinbox has announced definitive agreements for a $140 million investment co-led by Partners Group and funds managed by KKR. Gravity Holdings also participated in this funding round. The involvement of Partners Group and KKR strengthens Darwinbox’s existing cap-table and signifies the company’s robust progress in recent years. This financial boost positions Darwinbox to enhance its technological prowess and accelerate its international expansion.
Founded in 2015, Darwinbox operates as a mobile-first, AI-enabled human capital management platform, serving over 1,000 enterprises globally. The company has swiftly expanded across various regions, including Asia Pacific, the Middle East, the UK, and the US. Darwinbox’s North American presence, established two years ago, has gained significant traction, and the company is committed to increasing its influence in the region. Over the past two years, Darwinbox has achieved substantial growth, with a fivefold increase in international revenue, 60% of which stems from global markets.
In 2024, Darwinbox earned the distinction of being the youngest and only Asian company recognized as a Challenger in Gartner’s Magic Quadrant for Cloud HCM Suites for enterprises with over 1,000 employees.
Jayant Paleti, Co-founder of Darwinbox, commented, “This investment highlights Darwinbox’s strong fundamentals and the confidence our global customer base has in us. Our focus on optimizing employee experience and configuring our platform to meet diverse local needs has transformed HR for enterprises worldwide. With the backing of top-tier investors, we are set to amplify our global momentum and deliver innovative AI-powered solutions for thousands of businesses.”
Cyrus Driver, Managing Director of Private Equity at Partners Group, stated, “Darwinbox is disrupting the HR tech market, which we have been monitoring through our thematic research. The company’s emphasis on product innovation, generative AI, and global expansion makes it well-positioned for market growth. We look forward to collaborating with Darwinbox’s talented management team to drive future growth.”
Akshay Tanna, Partner and Head of India Private Equity at KKR, said, “Darwinbox has quickly established itself as a leader in human capital management through innovation and customer-centricity. We are pleased to support Darwinbox’s next growth phase and will leverage our global network to accelerate its international ambitions.”
Globally, over 3 million employees from brands like Starbucks, Nivea, AXA, and Cigna rely on Darwinbox’s HR platform. Recent product rollouts, including a multi-country payroll solution and enhanced GenAI features, underscore Darwinbox’s commitment to next-generation HR innovation.
Partners Group, through its growth equity strategy, has invested around $2.5 billion in growth-stage companies, including Lumin Digital and Neara. KKR’s investment is part of its Asia Next Generation Technology strategy, which supports disruptive companies across various sectors in Asia, including Rebel Foods, Lenskart, and Livspace.
