Salesforce invests $15 mn in HR tech platform Darwinbox
21 Janvier, 2021, 22:01 | Auteur: Auguste Feret
Bengaluru:Salesforce's strategic venture fund has chipped in $15 million into human resource technology platform Darwinbox, the global customer relationship management giant's maiden India investment.
This follows the company's Series B round raised in September 2019 led by Sequoia India with participation from existing investors Lightspeed India, Endiya Partners, and 3one4 Capital, bringing the total investment in the company to Rs 250 crore.
The company, which has raised a total of Dollars 35 million, will use the latest funds for global expansion and product innovation, Darwinbox co-founder Jayant Paleti said.
Darwinbox said the latest investment will allow it to leverage Salesforce's distribution network in the regions where it is looking to grow.
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Alex Kayyal, Partner and Head of International Affairs at Salesforce Ventures, told TechCrunch in an interview that the company helps its partners in several ways, including introducing them to the company's customers, executives and their networks, and helping startups expand their businesses. "Darwinbox is delivering innovation for Asia's leading enterprises and has emerged as a top platform of choice". It competes with the likes of other established cloud platforms such as SAP and Oracle.
"Globally, an increasing number of enterprises are abandoning legacy offerings in favour of our modern, agile HCM platform that helps them stay ahead of change", says Jayant Paleti, Co-founder, Darwinbox. It develops touchless attendance systems and provides hiring and onboarding and employment engagement tools to more than a million employees of 500 customers across 60 countries. "We will focus on emerging markets - Middle East, Nigeria", Peddi said. "Our association with Salesforce will also expose us to best-in-class practices across customer success, enterprise sales as well as product engineering", Paleti said.
"India is home to one of the world's youngest population, and by 2050, it is expected to account for over 18% of the global working age population", says Arundhati Bhattacharya, Chairperson and CEO, Salesforce India. It serves companies such as Adani, Mahindra, Kotak, TVS, Ramky, Greenko, Dr. Reddy's, L&T Metro, NSE, Nivea, Puma, Swiggy, Bigbasket, Delhivery and more.
Dave Kher, Partner at Lightspeed India and an early supporter of the startup, said Darwinbox has become the preferred human capital management solution for conglomerates, governments, high-growth corporations and multinationals operating in Asia as they witness digitally transforming. Last quarter was our highest (by revenue and clients).
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