Hyderabad, August 15, 2025 – Hyderabad-based HR-tech platform Darwinbox has raised $40 million from Teachers’ Venture Growth (TVG), the late-stage investment arm of the Ontario Teachers’ Pension Plan (OTPP), in a move that signals growing global investor confidence in Indian enterprise SaaS companies.
Funding Snapshot
- Amount: $40 million (~₹334 crore)
- Investor: Ontario Teachers’ Pension Plan – Teachers’ Venture Growth (TVG)
- Sector: HR-Tech / SaaS
- Founded: 2015
- Global Reach: 1,000+ enterprises, 4 million users, 130+ countries
The fresh capital follows Darwinbox’s $140 million round in March 2025 led by KKR and Partners Group, bringing its total funding to nearly $320 million.
Founded byJayant Paleti, Rohit Chennamaneni, Vineet Singh and Chaitanya Peddi, Darwinbox offers an AI-first Human Capital Management (HCM) platform that streamlines HR functions for large enterprises, from recruitment and payroll to employee engagement and analytics. The platform’s AI features, including “agentic-AI” and Model Context Protocol (MCP) integrations, aim to redefine efficiency in enterprise HR processes.
Use of Funds
The funding will drive North American expansion, a region where Darwinbox has reported 3× year-on-year growth since market entry. It will also support ongoing AI innovation and product development, strengthening its competitive position against global HCM leaders.
Founders & Edge
Darwinbox’s founders bring a mix of consulting, technology, and HR domain expertise, enabling the startup to craft an enterprise-grade platform tailored for emerging markets and adaptable for global needs. Their ability to balance local market understanding with international scalability has attracted global institutional investors like OTPP.
Market Watch
With HR-tech adoption accelerating worldwide—especially in AI-driven automation—Darwinbox is well-positioned to compete with incumbents like Workday and SuccessFactors. Its success could pave the way for other Indian SaaS startups eyeing North American and European markets.
Final Take
Darwinbox’s latest raise underlines two key trends: the global appetite for AI-led HR solutions and India’s emergence as a powerhouse for enterprise SaaS innovation. If executed well, this funding could help Darwinbox cement its position as a global HCM leader.
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