PE Fund Investments
SaaS-based HR-tech firm Darwinbox raises $72-M from TCV, others; turns Unicorn
Hyderabad-based software as a service (SaaS)-based HR tech platform Darwinbox has raised USD 72 million funding in Series D round led by Technology Crossover Ventures (TCV), along with existing investors Salesforce Ventures, Sequoia Capital India, Lightspeed India, Endiya Partners, 3One4Capital, JGDEV and SCB 10X. The company's valuation post this round will cross USD 1 Billion, making it the first Unicorn in the SaaS sector for 2022. The latest funding will enable Darwinbox to accelerate its platform innovation agenda, strengthen its product, engineering, and customer success teams along with scaling its go-to-market presence in South Asia, SEA, and MENA regions.
From the Venture Intelligence PE-VC Deal Database: Between Jul-16 and Jan-21, Salesforce Ventures, 3ONE4 Capital, StartupXseed Ventures, Endiya Partners, Lightspeed Ventures and Sequoia Capital India had invested close to INR 239 crore in DarwinBox.
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