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National Post
11 minutes ago
- National Post
Darwinbox Secures US$40 Million From Teachers' Venture Growth
Article content New investment will help accelerate Darwinbox's North American expansion and agentic AI innovation Article content HYDERABAD, India & SAN FRANCISCO — Darwinbox, the fastest growing AI-powered human capital management (HCM) platform, today announced a US $40 million investment from Teachers' Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers' Pension Plan. Article content The new partnership will fuel Darwinbox's mission to redefine enterprise HR with AI-first innovation and rapid global expansion, especially in North America, meeting growing demand for modern alternatives to legacy HR suites. The company has grown 3X year on year since its entry in the region and is powering global enterprises like EXL, Virtusa, Orion Innovation, Ephicacy, Nivea, WeWork, Zara, Starbucks, and Adidas. Article content Already powering HR technology for 1,000+ enterprises and 4 million employees across 130 countries, Darwinbox is continuing to invest in agentic-AI innovation, becoming the first HCM platform to support the Model Context Protocol (MCP) and enabling AI agents to interact with Darwinbox securely. The raise is in addition to Darwinbox's recent US $140 million round led by Partners Group and KKR in March 2025 and sees TVG acquire a stake in Darwinbox through primary and secondary transactions. TVG brings significant experience in helping fast-growing technology companies scale in international markets and joins an investor lineup that includes KKR, Partners Group, Microsoft, Salesforce, Peak XV, Lightspeed, and TCV. Article content 'We are pleased to partner with an exceptional team that has built and scaled Darwinbox into a leading HR technology company. With an easily customizable, AI-powered full-stack offering, and customer centricity at its core, Darwinbox continues to drive impressive adoption across large enterprises globally. We look forward to bringing our global network and expertise to support the company's future growth,' said Darius Vakil, Director of TVG in India. 'We're thrilled to welcome TVG as partners in our next stage of scaling,' said Jayant Paleti, Co-Founder of Darwinbox. 'HR tech, when done right, can unlock outsized value for every enterprise, yet the old guard of HCM vendors still falls short of that leap. Darwinbox exists to change that story, building the next-gen HCM company, global by design, AI‑first at the core, and relentlessly focused on customer outcomes,' he added. Article content The platform is lauded by Gartner and Forrester for its deep functional breadth, outstanding user experience, and rapid pace of innovation, especially in AI. Darwinbox is the youngest HCM suite to be recognized on Gartner's Magic Quadrant for Cloud HCM Suites and is named a Customer's Choice HCM for the 4 th year in Gartner's Gartner® Peer Insights™ Voice of Customer report, outranking its competition significantly in ratings. Article content With a mission to evolve the future of work, Darwinbox is expanding globally with a growing footprint in the US, Southeast Asia, and MENA. Article content Avendus Capital acted as the financial advisor and investment banker to Darwinbox in this transaction. Article content About Teachers' Venture Growth Article content Teachers' Venture Growth (TVG) focuses on late-stage venture and growth equity investments in cutting-edge technology companies worldwide. We partner with founders with bold missions, looking to expand their product offering, scale geographically, and become the leaders in their markets. We bring long-term thinking and active investing to help build better businesses and a better world. We think globally and act locally through our direct presence across Europe, North America and Asia. Article content Teachers' Venture Growth (TVG) is part of the Ontario Teachers' Pension Plan Board (Ontario Teachers'), a global investor with net assets of CAD 269.6 billion as at June 30, 2025. Ontario Teachers' is a fully funded defined benefit pension plan, and it invests in a broad array of asset classes to deliver retirement security for 343,000 working members and pensioners. For more information, visit and follow us on LinkedIn. Article content About Darwinbox Article content Founded in 2015, Darwinbox is a global HR tech leader that empowers enterprises to better manage their talent with new-age employee experiences and disruptive AI-powered technology. Its cloud-based Human Capital Management (HCM) software caters to an organization's HR needs across the entire employee lifecycle. Darwinbox is trusted by over 4 million employees from more than 1000 enterprises across 130 countries. Darwinbox has been backed by global investors like KKR, Partners Group, TCV, Microsoft, Salesforce Ventures, Peak XV, Lightspeed, and Endiya Partners, among others. Article content Article content Article content Article content Article content Contacts Article content Media Contacts Article content Darwinbox Article content Gowthami Kanumuru | VP, Marketing | Article content gowthami.k@ Article content TVG/Ontario Teachers' Pension Plan Article content Article content Henrietta Dehn/ Alisha Prakash | Article content Article content
CTV News
11 minutes ago
- CTV News
Hydro One CEO David Lebeter to take compassionate care leave
Signage for the Hydro One Networks Inc. corporate office is shown in Toronto on Thursday Nov. 14, 2024. THE CANADIAN PRESS/Doug Ives TORONTO — Hydro One Ltd, says chief executive David Lebeter will take a temporary compassionate care leave, effective Aug. 25, to care for a family member. The power utility says Lebeter will to be available to the company on an advisory basis until his return. To fill the void, Hydro One says Harry Taylor, the company's chief financial and regulatory officer, will also serve as interim chief executive. Taylor joined the organization in 2024. Hydro One also announced the appointed of Michael Rencheck to the company's board of directors effective Thursday. Rencheck is a former chief executive of Bruce Power. This report by The Canadian Press was first published Aug. 14, 2025.
National Post
11 minutes ago
- National Post
Face the Future: Mary Kay's AI Foundation Finder Poised to Disrupt the Beauty Game
Article content Sorry, your browser doesn't support embedded videos. Article content DALLAS — Mary Kay Inc., a global leader in direct selling and skin innovation, announces the launch of its cutting-edge AI Foundation Finder – an intuitive technology designed to help consumers effortlessly find their foundation match, while empowering Mary Kay independent beauty consultants to guide their customers in finding the right match – right from their phones. Article content Article content A first in the direct selling industry, the Mary Kay AI Foundation Finder uses advanced artificial intelligence to scan a customer's face on their mobile phone and provide personalized shade recommendations in just seconds. A first in the direct selling industry Article content , this AI Foundation Finder uses advanced artificial intelligence to scan a customer's face on their mobile phone and provide personalized shade recommendations in just seconds. What sets this AI-powered tool apart is that it is informed by a scientifically developed scale offering an inclusive and nuanced understanding of human skin tones. The technology captures the user's skin tone using their camera and then matches it to the most accurate Mary Kay foundation shade by analyzing the user's skin tone and the corresponding RGB values of the Mary Kay foundation products Article content 1 Article content . Article content 'AI Foundation Finder fuels our vision to be a beauty disruptor in the direct selling space and beyond,' said Dr. Lucy Gildea, Mary Kay's Chief Brand and Scientific Officer. 'We are pioneering AI shade matching globally, helping consumers meet their foundation match within the diverse range of foundation finishes in the Mary Kay® Flawless Face portfolio. Embracing beauty tech marks a unique opportunity to elevate the category and cultivate our next-generation beauty community.' Article content The AI Foundation Finder aligns with a rising demand for hyper personalized, tech-enabled beauty solutions amid broader cultural and technological shifts. As the #1 Direct Selling Brand of Skin Care and Color Cosmetics in the World by Euromonitor International for three consecutive years 3 in 2023, 2024, and again in 2025, this launch further reflects Mary Kay's commitment to digital innovation, inclusivity, and empowering our beauty entrepreneurs around the world. Article content 'The launch of our AI-powered Foundation Finder reflects a continued commitment to innovation in personalized beauty,' said James Whatley, Mary Kay's Chief Information Officer. 'By leveraging an exclusive AI technology in the Direct Selling channel, we're able to provide shade recommendations in seconds, while making the consumer experience intuitive, inclusive, and enjoyable. Our Mary Kay independent beauty consultants will now have a powerful digital partner that elevates their business, enhances customer trust, and reimagines how beauty is delivered in a tech-enabled world.' Article content The tool is now available in select markets and will be rolling out globally in the coming months. For more information, please visit here. Article content AI Foundation Finder Highlights: Article content Beauty tech: The user's camera captures real-time tracking of the user's input video or images with precise detection of 151 facial feature points. Inclusiveness: The Mary Kay AI Foundation Finder is based on a proprietary 10-shade scale designed to accurately represent a wide range of human skin tones with inclusivity and precision in mind. Performance: In our consumer tests, 83% of consumers expressed that they would be likely to purchase their recommended match. In the Mary Kay Independent Beauty Consultant (IBC) tests, 100% of the Mary Kay IBCs said they would be very likely to use the tool in their business. Access: AI Foundation Finder is integrated into the online shopping experience, accessible from or through the iCatalog, consumers can easily scan and instantaneously find their foundation match. Privacy: The AI Foundation Finder does not store or process biometric data. Article content About Mary Kay Article content One of the original glass ceiling breakers, Mary Kay Ash founded her dream beauty brand in Texas in 1963 with one goal: to enrich women's lives. That dream has blossomed into a global company with millions of independent sales force members in more than 40 markets. For over 60 years, the Mary Kay opportunity has empowered women to define their own futures through education, mentorship, advocacy, and innovation. Mary Kay is dedicated to investing in the science behind beauty and manufacturing cutting-edge skincare, color cosmetics, nutritional supplements, and fragrances. Mary Kay believes in preserving our planet for future generations, protecting women impacted by cancer and domestic abuse, and encouraging youth to follow their dreams. Learn more at Find us on Facebook, Instagram, and LinkedIn, or follow us on X. Article content Article content Article content Article content
