This Hyderabad-based company became the rare Asian software unicorn

Darwinbox said in a press release that the investment round was led by Technology Crossover Ventures (TCV), as well as existing investors Salesforce Ventures, Sequoia, Lightspeed, Endea Partners, 3One4Capital. The firm has raised over USD 110 million so far and has seen a 200 per cent increase since the last fund-raising a year ago.

With the new investment, the company aims to accelerate product innovations and global expansion, including a launch in the US this year. The three co-founders, Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni came together in November 2015 to create a world-class technology product from Hyderabad for the world. ,

We are most excited to invest behind the visionary founders who are fundamentally transforming large markets. I am also delighted to support an outstanding team led by Jayant, Rohit, Chaitanya based in my hometown that is doing exactly the same in the highly influential HR technology space. “We are delighted to partner with him on his journey to global leadership,” said Gopi Vaddi, General Partner, TCV.

Darwinbox’s HR technology powers more than 650 global enterprises. Some of their notable clients range from Asia’s largest conglomerate to fast growing technology unicorns including JSW, Adani, Mahindra, Vedanta, SBI General Insurance, Kotak, TVS, National Stock Exchange, Ramky, Aurobindo, Yashoda, BigBasket, Swiggy and MakeMyTrip Huh.

Jayant Paleti, Co-Founder, Darwinbox said. The company has 12 global offices with over 700 employees and expects to rapidly expand headcount and its global presence.