Darwinbox, a human resource technology platform, has secured a $140 million investment led by Partners Group and KKR, with additional participation from Gravity Holdings.
The investment marks a significant milestone for the company, which was founded in 2015 and has rapidly grown to serve over 1,000 enterprises worldwide, according to a statement.
In 2024, Darwinbox was recognised as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites, becoming the youngest and only Asian company to receive this accolade.
HR tech startup Darwinbox attracts major investment from global private market leaders
“This investment is a testament to Darwinbox’s strong fundamentals and the trust we have earned from our 1,000+ global customer base,” Jayant Paleti, Co-founder of Darwinbox said.
“By placing the employee experience front and center — and ensuring our platform is deeply configurable to diverse local needs — we have helped transform HR for enterprises globally. With top-tier investors backing us, we’re poised to amplify our global momentum and deliver innovative AI-powered solutions for thousands of enterprises worldwide,” he added.
The platform has demonstrated substantial growth, particularly in the Middle East and North Africa (MENA) region, where it achieved 9X revenue growth over three years.
Darwinbox has secured partnerships with prominent brands including Emirates Leisure Retail, DIFC, Lulu, Abu Dhabi Exchange, and Salaam Air.
“Darwinbox operates in the rapidly growing HR tech market, which we have been tracking through our thematic research. The company is acting as a key disruptor to legacy platforms in this space, investing heavily in product innovation, generative AI, and global expansion, and is well positioned to take market share. We look forward to working with Darwinbox’s talented management team on driving future growth. The company represents another exciting addition to our private equity growth portfolio,” Cyrus Driver, Managing Director, Private Equity, Partners Group said.
Globally, over 3 million employees from companies like Starbucks, Nivea, AXA, Cigna, and WeWork rely on Darwinbox’s platform. The company plans to launch a pan-GCC multi-country payroll solution this year, with full Arabic support.
“Darwinbox has established itself as a leading player in the human capital management space in a short span of time through its focus on innovation and customer centricity. We are pleased to support Darwinbox on its next stage of growth and will look to draw from our global network and expertise to accelerate its international expansion ambitions,” Akshay Tanna, Partner and Head of India Private Equity, KKR added.
Partners Group invested through its growth equity strategy, while KKR made the investment from its Asia Next Generation Technology strategy, continuing its support for innovative technology companies in the region.
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