HR startup Darwinbox raises USD 4 million from Lightspeed
The company had earlier raised a seed round from investors Endiya Partners, Tracxn Labs, 3one4 Capital and StartupXseed in 2016.
Darwinbox, a Hyderabad-based startup which offers cloud based dashboard for handling human resources has raised USD 4 million in Series A funding from Lightspeed India Partners along with existing investors Endiya Partners, 3one4 Capital and StartupXseed.
Darwinbox's clientele includes companies such as Paytm, Swiggy, Nivea and Godrej CDPL. It plans to use this funding to continue product innovation as well as focus market expansion in Asia, said Rohit Chennamaneni, co-founder, Darwinbox.
“We are glad to partner with Lightspeed India Partners in this exciting journey. The investor interest is a testament to our product vision, market traction and belief in building best in class futuristic HR Technology that maximizes employee potential in organisations,” Chennamaneni added.
As an idea, Darwinbox came to be when Jayant Paleti, one of the co-founders, realized that a previous company he was working for, had three different HR software which made data capture very difficult.
“That's when Jayant called me (childhood friend) and Chaitanya Peddi (colleague) to discuss if we could build a platform which can make HR intelligent and strategic. We unified aspects of HR like recruitment, payroll, employee engagement, talent management into one platform,” Paleti told Moneycontrol.
Paleti and Peddi earlier worked with EY while Chennamaneni worked with McKinsey.
"Darwinbox is leading the charge in taking human capital management beyond the HR department to all employees with a highly user-friendly and configurable user experience. We are thrilled to partner with Rohit, Chaitanya, Jayant and their team,” said Dev Khare, Partner at Lightspeed India Partners Advisors.Joseph.Sebastian@nw18.com