Latest news with #DariusVakil
Time of India
2 days ago
- Business
- Time of India
HRTech startup Darwinbox raises $40M from Canada's TVG
Hyderabad: HRTech startup Darwinbox raised US$40 million (approx. Rs 350 crore) from Teachers' Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers' Pension Plan (OTPP). Though the Hyderabad-based startup did not disclose the quantum of stake TVG has acquired, it said the Canadian fund picked up stake through primary and secondary transactions. The latest round comes less than six months after Partners Group and KKR led a $140 million funding round, which largely included a secondary fundraise where some of the early investors offloaded a portion of their stake and a small primary fundraise component. Darwinbox also has investors such as Microsoft, Salesforce, Peak XV, Lightspeed, and TCV. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad | Gold Rates Today in Hyderabad | Silver Rates Today in Hyderabad The startup said this funding will enable it to fuel its Agentic AI-led innovation and global expansion plans, especially in the North American market, where it claims 3X growth year-on-year since its entry in 2022. Darius Vakil, Director, TVG India, said their investment will help Darwinbox leverage their global network and expertise to drive future growth. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Starting ₹2.20 Cr* All Inclusive Park Crescent at Alembic City, Vadodara – Luxury Homes Alembic City West Learn More Undo Darwinbox co-founder Jayant Paleti said the investment will help it scale to the next stage. "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," he added. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Krishna Janmashtami Wishes ,, messages , and quotes !
Time of India
3 days ago
- Business
- Time of India
Darwinbox raises $40 million from Canada's TVG
Representative image HYDERABAD: HRTech startup Darwinbox has raised US$40 million (approx. Rs 350 crore) from Teachers' Venture Growth (TVG), which is the late-stage venture and growth investment arm of Ontario Teachers' Pension Plan. With this fundraise, TVG has acquired the stake in the Hyderabad-based startup through primary and secondary transactions. The latest round comes less than six months after Partners Group and KKR led a $140 million funding round, which largely included a secondary fundraise in which some of the early investors (prior to Series-A) offloaded a portion of their stake and a small primary fundraise. Apart from KKR and Partners Group, Darwinbox also has investors such as Microsoft, Salesforce, Peak XV, Lightspeed, and TCV. The Hyderabad-based startup said the funding will enable it to fuel its Agentic AI-led innovation and global expansion plans, especially in the North American market, where it claims its has grown 3X year-on-year since its entry in 2022. Commenting on the reasons for investing in the startup, Darius Vakil, director, TVG India, said their investment will help Darwinbox leverage TVG's global network and expertise to support its future growth as it drives adoption across large enterprises globally. Darwinbox co-founder Jayant Paleti said the TVG investment will help the company scale to the next stage. '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. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Business Wire
3 days ago
- Business
- Business Wire
Darwinbox Secures US$40 Million From Teachers' Venture Growth
HYDERABAD, India & SAN FRANCISCO--(BUSINESS WIRE)--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. 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. 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. '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. 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 4th year in Gartner's Gartner® Peer Insights™ Voice of Customer report, outranking its competition significantly in ratings. With a mission to evolve the future of work, Darwinbox is expanding globally with a growing footprint in the US, Southeast Asia, and MENA. Avendus Capital acted as the financial advisor and investment banker to Darwinbox in this transaction. About Teachers' Venture Growth 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. 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. About Darwinbox 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.
Mint
3 days ago
- Business
- Mint
Darwinbox raises $40 million from Canada's Teachers' Venture Growth
Darwinbox, the human capital management (HCM) and planning platform, has raised $40 million from Teachers' Venture Growth (TVG), the late-stage venture and growth investment arm of the Ontario Teachers' Pension Plan. '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,' said Darwinbox co-founder Jayant Paleti in a prepared statement. '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.' The new round of funding saw TVG acquire a stake in Darwinbox through a mix of primary and secondary transactions. The latest round of investment brings the company's total funding to $320 million. Darwinbox plans to use the funds to further boost its presence in North America, which it entered in 2022. The company says that since its entry into that market, its business there has grown three times year-on-year. In the North American region, Darwinbox's clients include companies like WeWork, Zara, Adidas, and Starbucks. With TVG's investment, the company joins the ranks of several marquee investors on Darwinbox's capitalisation table, including Microsoft, Salesforce, Peak XV Partners, Lightspeed and TCV. '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. The new round of funds comes shortly after the company's $140 million fundraising in March, which was led by Swiss private equity firm Partners Group and New York-based KKR. Mint was the first to report that the two investors were nearing a deal to fund the HR tech startup with between $120 million and $150 million. Teachers' Venture Growth is part of the Ontario Teachers' Pension Plan Board, a global investor that primarily invests in real estate, infrastructure, and natural resources. On the other hand, Ontario Teachers' Pension uses TVG to invest in tech-first companies. The fund's investments in India include B2B finance tech company Perfios, supply chain financing solutions provider for SMEs Mintifi, and B2C logistics provider XpressBees. Darwinbox was founded by Chaitanya Peddi, Jayant Paleti, Rohit Chennamaneni, and Vineet Singh from Hyderabad in 2015, making it the first unicorn startup to come out of Telangana. Since then, the company has grown to cater to the HR needs of over 1,000 enterprise customers who have 4 million employees spread across 130 countries.
