SalesForce – Salesforce makes its maiden India funding in Darwinbox
The spherical, which comes at a time when the startup is seeking to increase its presence in Southeast Asia and West Asia, was led by Salesforce Ventures and noticed participation from Darwinbox’s current traders Sequoia Capital, Lightspeed India, Endiya Companions and 3one4 Capital.
The Singapore and Hyderabad-based firm has, together with the newest spherical, raised round $35 million.
Based by Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni in 2016, Darwinbox mentioned the funding follows a 300% progress in revenues since September 2019, when the corporate raised $15 million in Collection B funding led by Sequoia Capital.
Darwinbox mentioned the newest funding will enable it to leverage Salesforce’s distribution community within the areas the place it’s seeking to develop.
“From our perspective, there’s a lot to study from Salesforce. We are able to use the ability of their community, their distribution and their companion ecosystem in all of the geographies that we need to achieve success in,” mentioned Jayant Paleti, cofounder of Darwinbox
Paleti added that whereas Saleforce’s funding is a recognition of the work it has been capable of do, the funding opens up a number of alternatives for collaboration with the CRM big, together with collectively servicing buyer wants in India, Southeast Asia and the MENA area.
Darwinbox mentioned it’s already the third largest HR cloud supplier after SAP and Oracle in India and desires to grow to be a pacesetter within the area within the subsequent two years.
Additionally it is increasing its presence throughout markets reminiscent of Thailand, Indonesia, Malaysia. It additionally lately launched its service in West Asia.
“Cloud adoption in Asia is rising at a monumental tempo and the (Covid-19) pandemic has solely additional amplified the significance of going digital,” mentioned Alex Kayyal, Accomplice and Head of Worldwide at Salesforce Ventures. “Darwinbox is delivering innovation for Asia’s leading enterprises and has emerged as a top platform of choice.”
Darwinbox is among the main Indian Software program as a Service corporations that has been capable of promote to native prospects, in contrast to plenty of software program product corporations specializing in promoting to prospects in america and Europe.
The agency has targeted on constructing a product that’s in keeping with HR calls for of midsize and enterprise companies in India, Paleti mentioned.
The corporate mentioned it companies round 500 enterprises globally, touching round 1 million workers throughout 60 nations.
Its purchasers embody massive conventional companies reminiscent of Adani, Mahindra, Kotak, TVS, and in addition massive web corporations reminiscent of Swiggy, BigBasket and Delhivery.