now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk
Treasury & Capital Markets / TechTalk
HR tech firm Darwinbox raises US$72 million funding
Unicorn seeks to accelerate product innovation, triple headcount in Asia
The Asset 26 Jan 2022

Darwinbox, an Asia-focused human resources technology platform, has raised US$72 million in its latest funding round, taking total investment in the company to over US$110 million and its valuation to over US$1 billion.

The latest funding round was led by Technology Crossover Ventures (TCV) with participation from existing investors – Salesforce Ventures, Sequoia, Lightspeed, SCB 10X, JGDEV, Endiya Partners and 3One4Capital.

Since securing the last investment from Salesforce Ventures 12 months ago, the company says it has grown 300% in Southeast Asia. It is expecting higher growth this year owing to enhanced demand for digital tools in the workplace amid the pandemic.

Founded in late 2015, Darwinbox is a cloud-based human capital management (HCM) platform that is currently servicing more than 1.5 million employees from over 650 enterprises across the globe. Clients include fast-growing unicorns (Zilingo, Zalora, Carousell, Tokopedia), leading enterprises (SBS Transit, Armstrong, EM Services, MatchMove, Funding Societies, Mitra Adiperkasa) and large conglomerates (JG Summit Holdings, Indorama, Wilmar) in the region.

The company says the new funding will supercharge its expansion plans, including accelerating its platform innovation agenda and strengthening its product, engineering and customer relationship teams. It aims to triple its headcount within a year, adding more than 100 team members in Southeast Asia across its offices in Singapore, Kuala Lumpur, Jakarta, Manila and Bangkok.   

Conversation
Surasak Ritthongpitak
Surasak Ritthongpitak
director of the market supervision department
Securities and Exchange Commission Thailand
- JOINED THE EVENT -
Asset Servicing Leadership Series
How digital assets are transforming Asia's investment landscape
View Highlights
Conversation
Hichem Bouqniss
Hichem Bouqniss
International Islamic Liquidity Management Corporation
- JOINED THE EVENT -
5th Global Islamic Finance Issuers and Investors Leadership Dialogue
Opportunities beyond uncertainty
View Highlights