Darwinbox, the HR Technology and Analytics platform have just concluded their first funding round with participation from Endiya Partners, Startupxseed Ventures, 3one4 capital – Mohandas Pai’s investment vehicle capital and Tracxn Labs.
The funds raised will be used for product development, enhancing customer experience and expanding across India. This funding will also help startup strengthen its product offering & enhance customer experience, and will further their mission of building great products that will enable the HR function to become a source of competitive advantage for organizations
The company’s HR Technology product is a significantly superior, integrated & modern HR SaaS platform that has received extremely strong feedback from the market. It already has 25,000+ employees using the platform and has marquee clients including Delhivery, Swiggy, Voonik, Sai Life Sciences etc.
The company which started in 2015 has a 3 member founding team
Rohit Chennamaneni – McKinsey, Google, IIM Lucknow , Jayant Prasad Paleti – Investment banker at EY, IIM Lucknow, IIT Madras, Chaitanya Peddi – EY HR Consulting, XLRI, Product development at Verizon
“With Darwinbox HR, we want to engage & empower employees on one side while automating and simplifying HR processes on the other. The focus is on more strategic elements of Employee Lifecycle like Engagement, Performance Management and Recruitment while perfecting the basic modules like Leaves, Attendance and Payroll Management.” – Rohit Chennamaneni, co-founder
Mohandas Pai, investing via 3one4 Capital, says “Darwinbox has assimilated the many years of the founding team’s experience in the space to solve for a powerful value proposition. The solution not only caters to full-stack workflows in the domain, it also helps companies engage their employees over multiple channels. The platform, therefore, targets the large asymmetries on both sides and contributes towards the utilization of the accumulated human capital much more efficiently. The long term effects are clear – better hiring decisions, clearer communication of incentives, stronger relationships with workforces that are increasingly more distributed, and deeper integrations with a whole universe of tools that are improving the overall ecosystem. We are excited to work with the Darwinbox team, and are looking forward to joining them on their journey.”
Sateesh Andra, MD, Endiya Partners says ” Consumerisation of enterprise technology is the next big wave in B2B space. There is a huge need especially in the HR space for cloud-based technology which is intuitive to use and is on mobile. We are pleased to lead the investment round with Darwinbox and partner with them as they create a world class integrated HR product for enterprises”
Mr. B.V.Naidu, Managing Partner, StartupXseed Ventures Says “the Darwinbox founding team comes with a strong experience in serving enterprise clients. They understand the pain points of the businesses deeply and are well positioned to disrupt the market with their offering. We are happy to participate in this round of funding to further enhance the product and technology”
Darwinbox HR is a cloud-based integrated HR Technology platform which takes care of an organization’s HR needs across the entire employee life cycle starting from Recruitment to Core transactions (Leaves, Attendance, Directory), Payroll, Employee Movement, Employee Engagement, Talent Management and People Analytics.
The key principles of differentiation for the product are:
- Simple – Intuitive and Mobile
- Flexible – Open APIs and Integratable with other enterprise products
- Powerful – Highly secure and deep in configuration
- Insightful – Advanced analytics
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