Darwinbox, a cloud-based integrated Human Resource (HR) technology platform, raised a funding of $4 million from Lightspeed India Partners, a venture capital firm, and its investors which include Endiya Partners, Mohandas Pai's 3one4 Capital and Startup xseed Ventures.
Darwinbox which takes care of an organization's HR needs across the entire employee life cycle plans to use the funding for product innovation and market expansion, informed the company in an official statement.
The world's largest enterprises are increasingly thinking of HR platforms not just as systems of record but as systems of intelligence to propel their human resource agenda. There is a strong, ever increasing demand for a modern technology suite that will address these needs, said Jayant Paleti, co-founder of Darwinbox on her company’s feat.
With this capital raise, Darwinbox will continue to expand its core technology, product, and go-to-market capability across India and internationally, added Paleti.
Co-founder and product head of Darwinbox, Chaitanya Peddi also echoed Paleti’s voice saying, We will continue to invest in areas such as Big Data, machine learning coupled with the latest research in human resource management (HRM) and psychology to maximize the value we offer to our clients while staying relevant and ahead of the competition.
In last one year, Darwinbox has added over 50 companies and over 1,00,000 employees across verticals such as technology, pharma, healthcare, and logistics, claims the company. The company's clients include Paytm, Nivea, Godrej CDPL, Delhivery, Sai Life Sciences, Swiggy and Hetero Pharma.