Latest news with #Teachers'VentureGrowth
Economic Times
5 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
5 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.
Mint
6 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.
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.
Yahoo
07-03-2025
- Business
- Yahoo
Quantexa wraps up $175m Series F investment round
Quantexa, a UK-based AI, data, and analytics software company, has completed its $175m (£136.5m) Series F investment round. The round was led by Teachers' Venture Growth (TVG), part of the Ontario Teachers' Pension Plan. Existing investors, including British Patient Capital, also participated in the round. The latest funding round values the British technology company at $2.6bn. Quantexa founder and CEO Vishal Marria said: "This latest investment reflects investors' embracing our vision and committing to join our journey as we accelerate innovation, platform deployments, and amplify the value we deliver to clients and the broader ecosystem. 'With the continued support of our investors, now including TVG, we are poised to push the boundaries of AI by harnessing the power of trusted data, reinforcing our leadership in this rapidly evolving landscape.' The company said it plans to use the funds to accelerate platform innovation, enhance client experiences, and forge new partnerships and alliances. The funding will also be used by the company to expand its presence in North America, and explore 'strategic' mergers and acquisitions. As part of the investment, Ara Yeromian, managing director at TVG, will join Quantexa's board of directors, which also includes representatives from other investors such as Warburg Pincus, Dawn Capital, BNY, Evolution Equity Partners, AlbionVC, and HSBC. Under the agreement, TVG will offer its expertise in scaling high-growth AI and software companies, along with its extensive network, to support Quantexa's international expansion and growth objectives. TVG EMEA senior managing director and head Avid Larizadeh Duggan said: 'Businesses today need to build trusted data foundations to enable AI-enhanced decision making, to drive real world impact. Quantexa is revolutionising how they do this. 'At TVG, we invest in high-growth, game-changing companies, led by visionary leaders making a global difference. Quantexa's impressive track record, expanding customer base, and bold approach to data and AI innovation make it a natural fit for our portfolio.' "Quantexa wraps up $175m Series F investment round" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
