PE-VC Fund Investments
HR-tech co. Darwinbox attracts $40-M from OTPP fund
Hyderabad-headquartered HR-tech platform Darwinbox has attracted USD 40 million from Teachers’ Venture Growth (TVG), a growth capital investment unit of Canada’s Ontario Teachers' Pension Plan (OTPP).OTPP is acquiring the stake via a mix of primary and secondary transactions. Early Darwinbox investor Peak XV Partners has partially offloaded its stake in the company via the secondary component of the deal.Founded in 2015 by Jayant Paleti, Rohit Chennamaneni, and Chaitanya Peddi, Darwinbox provides a cloud-based platform to large organisations to manage their human resource processes, including hiring and onboarding, attendance, and employee management.The company will use the primary capital from the round to boost its expansion in North America.
Between Jul-16 and Mar-25, DarwinBox had attracted about USD 250.7 M from 3ONE4 Capital, Endiya Partners, Lightspeed Ventures, StartupXseed Ventures, Peak XV Partners, Salesforce Ventures, KKR, Partners Group, others.For FY24, DarwinBox had reported about INR 333 Cr in Operating Income and about INR 192 Cr in Net Loss.
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