SaaS startup Darwinbox enters the unicorn club
SaaS startup Darwinbox has become the fourth unicorn of 2022 after raising $72 million led by TCV at a valuation of over $1 billion.

TCV has previously invested in Netflix, Meta, Spotify and Airbnb among others.
Existing investors include Salesforce Ventures, Sequoia India, Lightspeed India, Endiya Partners, 3One4Capital, JGDEV and SCB 10X. After this round, the total investment raised by the company so far has gone over $110 million (approximately Rs 820 crore).

The new funding will be used for Darwinbox’s global expansion plan by allowing the company 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. The company is expecting the overall team to grow by 100 percent and is also setting up to launch in the US in 2022.
Darwinbox, founded in 2015, works in the HR-tech space, digitising functions such as attendance, payroll and employee onboarding. It supports over 650 global enterprises across 90 countries manage HR operations from employee recruitment and attendance to engagement. Darwinbox’s customers include conglomerates such as Adani, Vedanta and JSW as well as newer internet companies such as Cars24, Vedantu and CRED.