Latest news with #ChaitanyaPeddi
Economic Times
6 days ago
- Business
- Economic Times
Darwinbox secures $40 million funding from Canada's OTPP
ETtech Darwinbox cofounders (from left) Jayant Paleti, Chaitanya Peddi and Rohit Chennamaneni. Hyderabad-based software-as-a-service firm Darwinbox has secured a $40 million investment from Teachers' Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers' Pension Plan, according to a company statement on Thursday. ET had reported last week that the human resource solutions provider was in talks with the Canadian pension fund to raise funds. OTPP makes its growth equity investments through the Teachers' Venture Growth vehicle and has backed Indian startups including Mintifi, Perfios and Xpressbees. In March, Darwinbox had closed a $140-million round that saw private equity firms KKR and Partners Group join the cap table as Lightspeed and a few early investors partially offloaded their stakes. The March round was largely a secondary transaction, with a small primary component, and the blended valuation was around $950 million. 'There was spillover interest from certain investors after the $140-million round was finalised,' one of the persons briefed on the matter said, adding that out of the $50 million, about 60% is in secondaries. Secondary transactions are usually finalised at 10-15% discount to a firm's last primary valuation. The company was last valued at $1 billion in 2022, following a $72 million funding round led by Netflix-backer TCV. For Peak XV Partners, which first invested in the firm in 2019, this spells a tenfold return on its initial cheque, said another in 2015, Darwinbox helps organisations manage their HR needs, including hiring and onboarding, attendance and employee management. It serves more than 1,000 enterprises in various sectors across 130 countries. Its customer base includes companies such as Starbucks, Nivea, Cigna, WeWork and Darwinbox is not OTPP's first investment in the HR-SaaS segment in the Asia-Pacific region. In July 2024, it co-led, along with KKR, a $140-million funding round in Japanese cloud-native human resources management platform SmartHR. Darwinbox had reported a 58% year-on-year increase in total revenue to Rs 392 crore for 2023-24. In March this year, its cofounder Chaitanya Peddi had told ET that the company was targeting a 50% revenue growth in the past few years, Darwinbox has been expanding overseas, including Asia-Pacific, West Asia, the UK and the US.'We really started selling in the US in FY25, and the traction has been strong. I believe the contribution from global markets, particularly their growth, is now the largest driver of our revenue growth,' Peddi had said, adding that the company was set to surpass $100 million in annual recurring revenue by December 2025. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
Time of India
6 days ago
- Business
- Time of India
Darwinbox secures $40 million funding from Canada's OTPP
Academy Empower your mind, elevate your skills Hyderabad-based software-as-a-service firm Darwinbox has secured a $40 million investment from Teachers' Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers' Pension Plan, according to a company statement on Thursday. ET had reported last week that the human resource solutions provider was in talks with the Canadian pension fund to raise makes its growth equity investments through the Teachers' Venture Growth vehicle and has backed Indian startups including Mintifi, Perfios and March, Darwinbox had closed a $140-million round that saw private equity firms KKR and Partners Group join the cap table as Lightspeed and a few early investors partially offloaded their stakes. The March round was largely a secondary transaction, with a small primary component, and the blended valuation was around $950 million.'There was spillover interest from certain investors after the $140-million round was finalised,' one of the persons briefed on the matter said, adding that out of the $50 million, about 60% is in transactions are usually finalised at 10-15% discount to a firm's last primary valuation. The company was last valued at $1 billion in 2022, following a $72 million funding round led by Netflix-backer Peak XV Partners, which first invested in the firm in 2019, this spells a tenfold return on its initial cheque, said another in 2015, Darwinbox helps organisations manage their HR needs, including hiring and onboarding, attendance and employee management. It serves more than 1,000 enterprises in various sectors across 130 countries. Its customer base includes companies such as Starbucks, Nivea, Cigna, WeWork and Darwinbox is not OTPP's first investment in the HR-SaaS segment in the Asia-Pacific region. In July 2024, it co-led, along with KKR, a $140-million funding round in Japanese cloud-native human resources management platform had reported a 58% year-on-year increase in total revenue to Rs 392 crore for 2023-24. In March this year, its cofounder Chaitanya Peddi had told ET that the company was targeting a 50% revenue growth in the past few years, Darwinbox has been expanding overseas, including Asia-Pacific, West Asia, the UK and the US.'We really started selling in the US in FY25, and the traction has been strong. I believe the contribution from global markets, particularly their growth, is now the largest driver of our revenue growth,' Peddi had said, adding that the company was set to surpass $100 million in annual recurring revenue by December 2025.
Time of India
07-08-2025
- Business
- Time of India
Canada's OTPP set to bag $50 million stake in Darwinbox at more than $1 billion value
ETtech Canadian pension fund Ontario Teachers' Pension Plan (OTPP) is in advanced stages of finalising a $50 million stake purchase in Hyderabad-based software-as-a-service firm Darwinbox , which will value the company at more than $1 billion, according to three people with knowledge of the is acquiring the stake in a mix of primary and secondary transactions, which will see Peak XV Partners partially sell its six-year-old holding in the company, which specialises in human resource (HR) March, Darwinbox had closed a $140-million round that saw private equity firms KKR and Partners Group join the cap table as Lightspeed and a few early investors partially offloaded their stakes. The March round was largely a secondary transaction, with a small primary component, and the blended valuation was around $950 million.'There was spillover interest from certain investors after the $140-million round was finalised,' one of the persons briefed on the matter said, adding that out of the $50 million, about 60% is in transactions are usually finalised at 10-15% discount to a firm's last primary valuation. The company was last valued at $1 billion in 2022, following a $72 million funding round led by Netflix-backer Peak XV Partners, which first invested in the firm in 2019, this spells a tenfold return on its initial cheque, said another and OTPP did not respond to ET's queries. Peak XV Partners refused to comment on the in 2015, Darwinbox helps organisations manage their HR needs, including hiring and onboarding, attendance and employee management. It serves more than 1,000 enterprises in various sectors across 130 countries. Its customer base includes companies such as Starbucks, Nivea, Cigna, WeWork and makes its growth equity investments through the Teachers' Venture Growth vehicle and has backed Indian startups including Mintifi, Perfios and Darwinbox is not OTPP's first investment in the HR-SaaS segment in the Asia-Pacific region. In July 2024, it co-led, along with KKR, a $140-million funding round in Japanese cloud-native human resources management platform had reported a 58% year-on-year increase in total revenue to Rs 392 crore for 2023-24. In March this year, its cofounder Chaitanya Peddi had told ET that the company was targeting a 50% revenue growth in the past few years, Darwinbox has been expanding overseas, including Asia-Pacific, West Asia, the UK and the US.'We really started selling in the US in FY25, and the traction has been strong. I believe the contribution from global markets, particularly their growth, is now the largest driver of our revenue growth,' Peddi had said, adding that the company was set to surpass $100 million in annual recurring revenue by December 2025.
Entrepreneur
25-06-2025
- Business
- Entrepreneur
Darwinbox Completes INR 86 Cr ESOP Buyback
The announcement comes just months after Darwinbox raised USD 140 million in a funding round led by Partners Group and KKR, with additional backing from Gravity Holdings. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Hyderabad-based HR tech unicorn Darwinbox has announced the successful completion of an INR 86 crore Employee Stock Ownership Plan (ESOP) buyback, benefiting over 350 employees across its 11 global offices, including India, North America, Southeast Asia, and the Middle East. This marks the company's third ESOP buyback in the past four years. Jayant Paleti, Co-founder of Darwinbox, said, "At Darwinbox, we've always believed that those who help build value should share in it. Even as we invest deeply in innovation and global growth, we remain equally committed to creating meaningful outcomes for our people." The announcement comes just months after Darwinbox raised USD 140 million in a funding round led by Partners Group and KKR, with additional backing from Gravity Holdings. The company is using this capital to fuel global expansion and invest in advanced AI capabilities. Chaitanya Peddi, Co-founder at Darwinbox, emphasized the role of talent in driving the company forward. "Talent has always been at the heart of what we do at Darwinbox. We've been intentional about ensuring they grow with the company—not just in impact, but also in wealth creation," he said. Darwinbox recently became the first Human Capital Management (HCM) platform globally to launch a Model Context Protocol (MCP) Server, enabling secure AI access to HR data and workflows. Its GenAI engine, Darwinbox Sense, now powers over 40 AI-based capabilities and has been pivotal in enhancing user experience. The company serves more than 4 million employees across 1,000+ enterprises, including names like Starbucks, McDonald's, Airtel, AXA, and Vedanta. Founded in 2015, Darwinbox is backed by global investors including Microsoft, Salesforce Ventures, Peak XV, and Lightspeed, and continues to redefine the future of work through its cloud-based, AI-driven HR solutions.
Business Upturn
24-06-2025
- Business
- Business Upturn
Darwinbox Completes 3rd ESOP Buyback in 4 Years, Reinforcing Commitment to Share Success with Employees
Darwinbox, a leading global provider of AI-powered HR technology, has successfully completed an INR 86 crore Employee Stock Ownership Plan (ESOP) buyback, the third such program in just four years. Over 350 employees spread across the company's 11 global offices in India, North America, Southeast Asia, and the Middle East, benefited from this buyback round. This marks Darwinbox's third buyback in just four years, reflecting the company's continued commitment to rewarding the people behind its growth and building shared success as it scales globally. 'At Darwinbox, we've always believed that those who help build value should share in it. Even as we invest deeply in innovation and global growth, we remain equally committed to creating meaningful outcomes for our people. This buyback, like the ones before, reflects our belief in sharing success with our people and building a culture of ownership,' said Jayant Paleti, Co-founder, Darwinbox. 'Talent has always been at the heart of what we do at Darwinbox, and we've been intentional about ensuring they grow with the company—not just in impact, but also in wealth creation. Some of the best minds from the industry have joined us to help shape the future of work. As we double down on R&D to power an AI-first world, we're excited to welcome great talent on this journey,' said Chaitanya Peddi, Co-founder at Darwinbox. In March 2025, Darwinbox added global private equity giants Partners Group and KKR to its cap table through a $140 million deal—further strengthening its position to lead on two critical fronts: deep technology innovation and global market expansion. That momentum is evident in a series of breakthrough AI product launches. Darwinbox recently became the first-ever HCM platform globally to launch an MCP (Model Context Protocol) Server, enabling any compatible AI agent to interact securely with HR data and workflows on the platform. The company's GenAI engine, Darwinbox Sense, now delivers over 40+ embedded AI capabilities, driving smarter decisions and elevated experiences. Darwinbox also recently rolled out a multi-country payroll solution across 10 new geographies within the last year, solidifying its capability to serve complex global organizations. Darwinbox powers modern HR technology experiences for over 4 million employees across 1000+ enterprises, from large conglomerates to high-growth tech companies. Brands like Starbucks, McDonald's, AXA, Cigna, WeWork, Airtel, and Vedanta trust the platform to power their people strategies at scale. The trust of its customers is paralleled by analyst recognition. Darwinbox has been named a Customers' Choice on Gartner Peer Insights for four years in a row. It is also the youngest and only Asian company to be recognized as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites for enterprises with over 1,000 employees, validating its growing global influence in a space long dominated by legacy players. Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
