PE-VC Fund Investments
Cloud-based HR mgmt platform DarwinBox raises follow-on funding from Canada’s OTPP Fund
Mumbai-based Darwinbox has raised a follow-on investment from Teachers’ Venture Growth, the growth investment platform of Canada’s Ontario Teachers’ Pension Plan (OTPP). This transaction marks the second investment from Teachers’ Venture Growth in the company, following an initial investment in 2025.Founded in 2015, Darwinbox provides a mobile-first, cloud-based human capital management platform that supports over 1,400 companies and 4.5 million employees globally. The company plans to use the capital to support its global expansion and accelerate product innovation, specifically the development of its AI-native platform, Darwinbox Cortex.Darwinbox has reported a 70% compound annual growth rate over the last five years, with operations across the US, Middle East, India, and Southeast Asia.
Between Jul 2016 and Apr 2025, DarwinBox had attracted about USD 291 M from KKR, OTPP, Partners Group, 3ONE4 Capital, Endiya Partners, JGDEV, Lightspeed Ventures, M12, Peak XV Partners, Salesforce Ventures, TCV and others.For FY25, DarwinBox had reported about INR 285 Cr in Operating Income and about INR 179 Cr in Net loss.
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