Darwinbox Becomes the First Unicorn from Hyderabad
Darwinbox, the HR tech company, announced the raising of $72 million from investors taking the valuation of the company to cross $1 billion. With the valuation of the company crossing the mark of $1 billion, Darwinbox has become the first unicorn from Hyderabad.
The company has grown 200% since the last fundraiser a year ago. It plans to accelerate the product innovations and global expansion along with its launch in the USA this year.
Chaitanya Peddi, Jayant Paleti, and Rohit Chennamaneni together came together in November 2015 to build a world-class technology product from the city. The technology of the company powers more than 650 global enterprises.
The customers range from Asia’s largest conglomerates to fast-growing technology unicorns such as JSW, Adani, Mahindra, Vedanta, SBI General Insurance, Kotak, TVS, National Stock Exchange, Ramky, Aurobindo, Yashoda, Bigbasket, Swiggy, and Makemytrip. It has 12 global offices with over 700 employees and is planning to expand it globally rapidly.