Darwinbox secures $140 million investment from Partners Group, KKR

Darwinbox, an artificial intelligence (AI)-powered human resource management platform, has raised $140 million in a funding round co-led by Partners Group and KKR, with participation from Gravity Holdings, according to a press statement.

 

The investment aims to accelerate the company’s international expansion and enhance its technology capabilities.

 

Founded in 2015, the company is an AI-enabled, mobile-first platform serving over 1,000 enterprises worldwide. In the past ten years, it has expanded internationally across markets, including Asia Pacific, the Middle East, the United Kingdom, and the United States.

 

Since entering North America in 2023, the company has seen significant traction and is doubling down on its regional presence, the statement said, adding that in the last two years, it has built a global portfolio, achieving five-fold revenue growth in international markets, with over 60 per cent of new revenue coming from overseas.

 

“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. 

 

For Partners Group, the deal aligns with its thematic growth equity strategy, with around $2.5 billion deployed in previous investments, including Lumin Digital and Neara. “Darwinbox operates in the rapidly growing HR tech market, which we have been tracking through our thematic research,” said Cyrus Driver, managing director, private equity, Partners Group.

 

“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,” he added.

 

Darwinbox counts Starbucks, Nivea, AXA, Cigna, WeWork, and Crisil among its customers. The company has recently expanded its product offerings, including a multi-country payroll solution and generative AI-powered features.

 

KKR’s investment comes via its Asia Next Generation Technology strategy, which supports the growth of innovative, disruptive companies in Asia across consumer technology, software, and FinTech. It has previously backed Rebel Foods, Lenskart, Livspace, and KiotViet.