Asia’s HR startup ‘Darwinbox’ enters Unicorn club; Eyes MENA expansion

Asia’s HR startup ‘Darwinbox’ enters Unicorn club; Eyes MENA expansion

Darwinbox, Asia’s leading provider of cloud-based Human Resources Management Software, has hit the ‘unicorn’ status in its latest $72 million funding round, and the startup now targets more growth in the Middle East and North Africa (MENA) region.

The startup, headquartered in the south Indian tech-city of Hyderabad, launched operations in the UAE last year and started picking up some prestige clients.

Darwinbox went past the $1 billion valuations after the latest funding round led by the US-based Technology Crossover Ventures (TCV) along with participation from Darwinbox’s existing strategic investors Salesforce Ventures, Sequoia Capital, and Lightspeed Ventures.

Founded in 2015, Darwinbox’s cloud-based Human Capital Management (HCM) platform caters to private and public sector HR needs across the entire employee lifecycle. The new-age tech platform is powering digital HR for more than 1.5 million employees from over 650 enterprises across the globe. Darwinbox supports leading global brands like Nivea, Starbucks, Sephora, Zara, and AXA, along with Lulu Group, Aramex, and Mobily Infotech in the region.

The new funding will fuel Darwinbox’s plans by allowing the company to accelerate its platform innovation agenda, and scale its go-to-market presence in MENA, South Asia, and Southeast Asia. With its regional office based in the Dubai International Financial Centre