The series B round also saw participation from existing investors, Lightspeed India Partners, Endiya Partners and 3one4 Capital, a statement said.
Darwinbox’s cloud based end-to-end Human Resource Management System (HRMS) caters to HR needs across the entire employee lifecycle (hire-to-retire).
“Partnering with marquee investors will accelerate our penetration into the Asian Enterprise market, drive product innovation and maximize value delivered to customers,” Darwinbox co-founder Jayant Paleti said.
Darwinbox has over 200 customers with more than five lakh employees spread across 50 countries. Some of their notable customers include Arvind, Adani, Mahindra, Kotak, GVK group companies, Bharti AXA, Dr Reddy’s, Bisleri, Nivea, Paytm and Swiggy.
“We will invest heavily in further strengthening our platform, especially our analytical layer with AI and ML capabilities to aid decision making,” said Chaitanya Peddi, co-founder of Darwinbox who leads their product development and engineering.
Asia’s HR technology market is estimated to be at USD 9 billion.