Darwinbox, an India-based human resources (HR) software developer, has raised $15m in its series C round from a consortium including Salesforce Ventures, the corporate venturing unit of enterprise software provider Salesforce.
The other investors in this round included venture capital firms Sequoia Capital India, Lightspeed India Partners, Endiya Partners and 3one4 Capital.
Darwinbox markets a software-as-a-service platform which can assist with human capital management processes including recruitment, employee engagement and the management of payroll, expenses and benefits.
Chaitanya Peddi, Darwinbox co-founder, said the new investment would be used to launch new products and to advance the company’s research and development activities.
Alex Kayyal, Salesforce Ventures partner and head of international, said: “Cloud adoption in Asia is growing at a monumental pace and the pandemic has only further amplified the importance of going digital. Darwinbox is delivering innovation for Asia’s leading enterprises and has emerged as a top platform of choice.”
Including the latest funding, the company has raised $35m since it was founded in 2015, according to Economic Times of India.
In 2016, Darwinbox received an undisclosed amount of seed funding co-led by 3one4 Capital, Tracxn Labs and Endiya Partners, according to a report by the Economic Times.
The company also raised $4m in a series A round in 2017, which was led by Lightspeed India Partners and included Endiya Partners, 3one4 Capital and Startupxseed Ventures.
Sequoia Capital India led a $15m series B round for Dawinbox in September 2019, which also featured Lightspeed India Partners, Endiya Partners and 3one4 Capital.