Global human resource technology platform Darwinbox signed up with Partners Group and KKR, both of which will co-lead an investment of US$140 million in the company, with additional participation from Gravity Holdings.
Founded in 2015, Darwinbox is a mobile-first and AI-enabled human capital management platform that serves more than 1,000 enterprises around the world. In less than a decade, Darwinbox has expanded internationally across multiple markets, including Asia-Pacific, the Middle East, the United Kingdom, and the United States.
In particular, since its entry into North America two years ago, the company has seen significant traction and is doubling down on its regional presence.
Over the last two years, Darwinbox has built a robust and diversified global portfolio, having achieved a fivefold growth in revenue in international markets, with over 60% of new revenue coming from international markets.
Since establishing a local presence in the Philippines, Darwinbox has swiftly become the go-to HCM platform for top Filipino enterprises, growing 2X year on year. Leading brands in the country like Gokongwei Group, BPI, SM Prime, Security Bank, Filinvest Group, MPTC, Home Credit, URC, Federal Land, Starbucks, and Toyota Motor Philippines trust Darwinbox to modernise HR.
Partnering with over 10 conglomerates in the Philippines, Darwinbox recognises the country as a pivotal market within Southeast Asia.
Also, the company has launched its multi-country payroll solution in the Philippines early this year further strengthening its commitment to delivering localised, high-impact HR innovations tailored to the unique needs of Filipino businesses.
“By placing the employee experience front and centre — and ensuring our platform is deeply configurable to diverse local needs — we have helped transform HR for enterprises globally,” said Jayant Paleti, Co‐founder of Darwinbox.
“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,” said Paleti.
Cyrus Driver, managing director on private equity at Partners Group, noted that Darwinbox operates in the rapidly growing HR tech market, which they have been tracking through their thematic research.
Partners Group invested through its growth equity strategy, which applies a thematic approach to identify investment opportunities in growth-stage companies globally.
“The company (Darwinbox) 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,” said Driver.
KKR makes its investment from its Asia Next Generation Technology strategy, which seeks to support the growth of innovative, disruptive companies in Asia across consumer technology, software, and fintech.
