Darwinbox, a leading global human resources (HR) technology platform, announced a $140-million investment co-led by Partners Group and KKR, with participation from Gravity Holdings.
Darwinbox is a mobile-first and AI-enabled human capital management platform serving over 1,000 enterprises worldwide. In less than a decade, the company has expanded across Asia Pacific, the Middle East, the United Kingdom and the United States.
Recognized as a challenger in the 2024 Gartner Magic Quadrant for Cloud HCM Suites for enterprises with over 1,000 employees, Darwinbox is the youngest and only Asian company to achieve the distinction.
The investment will fuel Darwinbox’s technology development and accelerate its international expansion, particularly in North America where the company has seen significant growth.
“This investment is a testament to Darwinbox’s strong fundamentals,” said Jayant Paleti, cofounder of Darwinbox. “With top-tier investors backing us, we’re poised to amplify our global momentum.”
Cyrus Driver, managing director, Private Equity, Partners Group, said, “Darwinbox is a key disruptor in the rapidly growing HR tech market… We look forward to working with Darwinbox’s talented management team on driving future growth.”
Akshay Tanna, partner and head of India Private Equity, KKR, said, “Darwinbox has established itself as a leader in human capital management… We are pleased to support Darwinbox on its next stage of growth.”
Darwinbox’s platform is used by over 3 million employees globally, including those at Starbucks, Nivea, AXA and Cigna. The company recently launched a multi-country payroll solution and enhanced generative AI features.
Partners Group invested through its growth equity strategy, while KKR invested from its Asia Next Generation Technology strategy. Avendus Capital acted as the financial advisor on this transaction.
