Hyderabad: As soon as Hyderabad-based HR tech startup logged into unicorn club Darwinbox it set its sights on the next big target-emerging as Asia’s number one human capital management platform by 2025.
Currently the Darwinbox platform is third in Asia after ERP giants SAP and Oracle. “Our next milestone is to be the no 1 HCM platform in Asia in the next 2-3 years and then we will also look at other markets,” said Darwinbox co-founder Jayant Paleti. Darwinbox, built in 2015 by Paleti with Chaitanya Peddi and Rohit Chennamaneni, caters to some of the largest conglomerates in Asia including Adani, Mahindra, Vedanta, SBI General Insurance, Kotak, TVS, NSE, Aurobindo, Ramky as well also companies such as Bigbasket, Swiggy and Makemytrip. It just raised $ 70 million in the growth stage funding round led by TCV (Technology Crossover Ventures and other existing investors which include Endiya Partners, Salesforce Ventures, Sequoia India, Lightspeed India, 3One4Capital, JGDEV and SCB 10X which reached over $ 110 million so far.
Endiya Partners MD Sateesh Andhra, who wrote Darwinbox’s first check when it was a new startup working in a penthouse room, said: “When I first met Darwinbox six years ago, they were one of some Saas technology companies started in Hyderabad. ”Telangana IT & industries principal secretary Jayesh Ranjan called Darwinbox’s trip as a landmark day for the Saas ecosystem in Hyderabad, which has more than 300 Saas players. overwhelmed with serveral misconceptions about Hyderabad, he said: “There is a misconception that Saas companies are only successful in working outside Madras but that is not true. The example of Darwinbox and Zenoti and HighRadius shows that there is enough going for Saas companies here due to the presence of large companies like Salesforce, ServiceNow, Informatica, ”he said.
Currently the Darwinbox platform is third in Asia after ERP giants SAP and Oracle. “Our next milestone is to be the no 1 HCM platform in Asia in the next 2-3 years and then we will also look at other markets,” said Darwinbox co-founder Jayant Paleti. Darwinbox, built in 2015 by Paleti with Chaitanya Peddi and Rohit Chennamaneni, caters to some of the largest conglomerates in Asia including Adani, Mahindra, Vedanta, SBI General Insurance, Kotak, TVS, NSE, Aurobindo, Ramky as well also companies such as Bigbasket, Swiggy and Makemytrip. It just raised $ 70 million in the growth stage funding round led by TCV (Technology Crossover Ventures and other existing investors which include Endiya Partners, Salesforce Ventures, Sequoia India, Lightspeed India, 3One4Capital, JGDEV and SCB 10X which reached over $ 110 million so far.
Endiya Partners MD Sateesh Andhra, who wrote Darwinbox’s first check when it was a new startup working in a penthouse room, said: “When I first met Darwinbox six years ago, they were one of some Saas technology companies started in Hyderabad. ”Telangana IT & industries principal secretary Jayesh Ranjan called Darwinbox’s trip as a landmark day for the Saas ecosystem in Hyderabad, which has more than 300 Saas players. overwhelmed with serveral misconceptions about Hyderabad, he said: “There is a misconception that Saas companies are only successful in working outside Madras but that is not true. The example of Darwinbox and Zenoti and HighRadius shows that there is enough going for Saas companies here due to the presence of large companies like Salesforce, ServiceNow, Informatica, ”he said.
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