Darwinbox, a human resources software-as-a-service startup, has raised $4 million in a Series A funding round from Lightspeed India Partners, India-based fund of Lightspeed Venture Partners. Besides this, Endiya Partners, Mohandas Pai’s 3one4 Capital and StartupXseed Ventures also participated in the round. The startup plans to leverage the capital for product innovation and market expansion. Founded in 2015 by Rohit Chennamaneni, Jayant Paleti and Chaitanya Peddi, Darwinbox is a cloud-based integrated HR technology product that takes care of all HR needs across the employee cycle.
Rohit Chennamaneni, cofounder of the startup, commented on the deal and said that “Lightspeed has been investing in enterprise products globally since the past two decades and this is one of their first enterprise bets in India. That experience will help us a lot to innovate on the product and guide us on how to go global”. Dev Khare, Partner at Lightspeed India also expressed solidarity in the funding round and said that “At all sizes and in all industries, businesses succeed when their employees and managers are engaged for maximum productivity and potential. Thus, human capital management software is core to the success of every business. Darwinbox is leading the charge in taking human capital management beyond the HR department to all employees with a highly user-friendly and configurable user experience”.
The startup lists a clientele of big names including Paytm, Nivea, Delhivery , Swiggy and Godrej’s CDPL.