Darwinbox, which helps Adani Group with its HR needs, is the third unicorn of 2022
Darwinboxhas raised $72 million in a Series D round led by TCV.
- Salesforce and Sequoia India have participated in the round too.
- The company plans to expand into international markets, starting from the US.
AdvertisementSoftware-as-a-service (SaaS) company Darwinbox, which helps organisations manage their
Though Darwinbox has not revealed their valuation, the company has confirmed that it has crossed over a billion dollars. The company has raised close to $200 million since its inception six years ago.
The company was founded in 2015 by Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni. It offers automation of employee lifecycle including recruitment, onboarding, attendance, expense management, payroll, employee engagement, performance management and people analytics.
It counts MakeMyTrip, Swiggy and Adani Group firms as its clients.
Darwinbox plans to use this capital to double down on its global expansion and further accelerate its product development plans. The company will start its global expansion by entering the US market, which could be a substantial contributor to the company’s revenue in three-four years.
Fractal and LeadSchool were the other two startups that turned into a unicorn this year. Mamaearth too had officially announced its unicorn funding this year, but the development was already reported based on regulatory filings by the end of 2021.
The year 2021 was the best one for Indian startups as four startups turned a unicorn every month. Overall, 44 startups were valued over $1 billion last year. Piyush Goyal, the minister of industry and commerce, hopes that India will create 75 unicorns in 2022.
Vodafone Idea says another tariff hike is coming even as it continues to lose subscribers
Here’s why Axis Bank’s quarterly profit tripled in the last three months
Ola Electric raises another $200 million, this time at a valuation of $5 billion
Popular on BI
- Impact of AI on Customer Service
- Bengaluru cafe blast: Karnataka CM Siddaramaiah to chair meeting with top police officials today
- India retains full policy space for benefit of farmers, fishermen at WTO: Goyal
- Sensex, Nifty settle at new closing high levels in first part of special live trading session
- Passive Income Streams