HR tech SaaS unicorn Darwinbox elevates CTO Vineet Singh as co-founder

Vineet Singh CoFounder Darwinbox

Hyderabad-based HR tech software-as-a-service (SaaS) platform, Darwinbox, has announced the elevation of Vineet Singh, its Chief Technology Officer (CTO), to the position of co-founder on August 30.

Singh spent the early years of his career as an engineer building products in both consumer and SaaS tech prior to joining Darwinbox.

“He has scaled the platform into a full-fledged HCM suite with 15 modules in just 6 years which is faster than any other enterprise HR tech. He was the first one to join our team back in 2015 and has successfully scaled our engineering and R&D teams into the 400-member strong unit that it is today,” said cofounder Chaitanya Peddi.

Darwinbox was founded by Jayant Paleti, Rohit Chennamaneni and Chaitanya Peddi in 2015. The firm works in the HR-tech space, digitising functions such as attendance, payroll and employee onboarding. Its prominent investors include Sequoia, Lightspeed India and Salesforce Ventures. Endiya Partners, 3One4Capital, JGDEV and SCB 10X have also invested in the firm.

The firm joined the unicorn club in 2022 after it announced raising $72 million led by TCV at a valuation of over $1 billion. In 2023, Microsoft invested an undisclosed amount in Darwinbox.

The company expanded to countries like Indonesia, Singapore and Philippines, Malaysia, Vietnam and Thailand.  It counts Southeast Asia and India as the highest contributors towards its revenue and it also opened new offices in West Asia, Saudi Arabia, UAE and the US.

Darwinbox claims to have grown 3X in the last 2 years. The firm today serves more than 900 enterprises and is used by 3 million employees globally, it said in a statement.