This news comes on the heels of its Series D round. Darwinbox plans to use the funds to expand its team and explore M&A opportunities. Here are the top-line bullets you need to know.
Darwinbox, a human resource management software (HRMS) provider, has raised $72M in a Series D. The round drew participation from Technology Crossover Ventures, Salesforce Ventures, Lightspeed India Partners, and Sequoia Capital India, among others.
How’s the company performing?
- India-based Darwinbox provides software that covers everything from recruitment processes to performance management.
- The company has over 1.5M users across more than 650 companies, such as Starbucks, Dominos, Swiggy, Zilingo, and Kotak.
- Darwinbox’s total revenue doubled in 2021.
- It has over 700 employees.
Source: Darwinbox
Why does the market matter?
- The global HR software market is expected to reach a value of $33.6B by 2028, growing at a CAGR of 10.1%, according to Verified Market Research.
- The increasing adoption of cloud-based workforce management solutions across verticals amid the pandemic has resulted in market growth.
