Darwinbox Raises $140 Million Investment Co-led by Partners Group and KKR to Accelerate Global Expansion
Darwinbox, a global HR technology platform, has secured a $140 million investment co-led by Partners Group and KKR, with participation from Gravity Holdings. Founded in 2015, Darwinbox serves over 1,000 enterprises worldwide with its mobile-first and AI-enabled human capital management platform.
The company has achieved significant international expansion, with a fivefold growth in revenue in international markets over the last two years, with over 60% of new revenue coming from these markets. Darwinbox operates across Asia Pacific, the Middle East, the UK, and the US, serving over 3 million employees from brands including Starbucks, Nivea, AXA, and Cigna.
In 2024, Darwinbox was recognized as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites, becoming the youngest and only Asian company to receive this recognition. The investment will support Darwinbox's technology leadership and accelerate its international expansion plans.
Darwinbox, una piattaforma globale di tecnologia HR, ha ottenuto un investimento di 140 milioni di dollari co-guidato da Partners Group e KKR, con la partecipazione di Gravity Holdings. Fondata nel 2015, Darwinbox serve oltre 1.000 imprese in tutto il mondo con la sua piattaforma di gestione del capitale umano mobile-first e abilitata all'AI.
L'azienda ha raggiunto un'espansione internazionale significativa, con una crescita cinque volte superiore dei ricavi nei mercati internazionali negli ultimi due anni, con oltre il 60% dei nuovi ricavi provenienti da questi mercati. Darwinbox opera in Asia Pacifico, Medio Oriente, Regno Unito e Stati Uniti, servendo oltre 3 milioni di dipendenti di marchi come Starbucks, Nivea, AXA e Cigna.
Nel 2024, Darwinbox è stata riconosciuta come Challenger nel Gartner Magic Quadrant per le suite Cloud HCM, diventando la più giovane e unica azienda asiatica a ricevere questo riconoscimento. L'investimento sosterrà la leadership tecnologica di Darwinbox e accelererà i suoi piani di espansione internazionale.
Darwinbox, una plataforma global de tecnología de recursos humanos, ha asegurado una inversión de 140 millones de dólares co-liderada por Partners Group y KKR, con la participación de Gravity Holdings. Fundada en 2015, Darwinbox atiende a más de 1.000 empresas en todo el mundo con su plataforma de gestión de capital humano habilitada para móviles y AI.
La empresa ha logrado una expansión internacional significativa, con un crecimiento de cinco veces en ingresos en mercados internacionales en los últimos dos años, con más del 60% de los nuevos ingresos provenientes de estos mercados. Darwinbox opera en Asia-Pacífico, Medio Oriente, Reino Unido y Estados Unidos, sirviendo a más de 3 millones de empleados de marcas como Starbucks, Nivea, AXA y Cigna.
En 2024, Darwinbox fue reconocida como Challenger en el Gartner Magic Quadrant para suites HCM en la nube, convirtiéndose en la empresa asiática más joven y única en recibir este reconocimiento. La inversión apoyará el liderazgo tecnológico de Darwinbox y acelerará sus planes de expansión internacional.
다윈박스는 글로벌 HR 기술 플랫폼으로, Partners Group과 KKR이 공동 주도한 1억 4천만 달러 투자를 확보했으며, Gravity Holdings가 참여했습니다. 2015년에 설립된 다윈박스는 모바일 우선 및 AI 기반의 인적 자원 관리 플랫폼으로 전 세계 1,000개 기업 이상에 서비스를 제공합니다.
회사는 지난 2년 동안 국제 시장에서 수익이 5배 증가하는 등 상당한 국제적 확장을 이루었으며, 새로운 수익의 60% 이상이 이러한 시장에서 발생하고 있습니다. 다윈박스는 아시아 태평양, 중동, 영국 및 미국에서 운영되며, Starbucks, Nivea, AXA 및 Cigna와 같은 브랜드의 300만 명 이상의 직원에게 서비스를 제공합니다.
2024년, 다윈박스는 Gartner Magic Quadrant의 클라우드 HCM 스위트에서 Challenger로 인정받아, 이 인정을 받은 가장 젊고 유일한 아시아 기업이 되었습니다. 이번 투자는 다윈박스의 기술 리더십을 지원하고 국제 확장 계획을 가속화할 것입니다.
Darwinbox, une plateforme mondiale de technologie RH, a sécurisé un investissement de 140 millions de dollars co-dirigé par Partners Group et KKR, avec la participation de Gravity Holdings. Fondée en 2015, Darwinbox sert plus de 1.000 entreprises dans le monde entier avec sa plateforme de gestion du capital humain mobile-first et alimentée par l'IA.
L'entreprise a réalisé une expansion internationale significative, avec une croissance des revenus multipliée par cinq sur les marchés internationaux au cours des deux dernières années, plus de 60 % des nouveaux revenus provenant de ces marchés. Darwinbox opère en Asie-Pacifique, au Moyen-Orient, au Royaume-Uni et aux États-Unis, servant plus de 3 millions d'employés de marques telles que Starbucks, Nivea, AXA et Cigna.
En 2024, Darwinbox a été reconnue comme Challenger dans le Gartner Magic Quadrant pour les suites HCM Cloud, devenant ainsi la plus jeune et la seule entreprise asiatique à recevoir cette reconnaissance. Cet investissement soutiendra le leadership technologique de Darwinbox et accélérera ses plans d'expansion internationale.
Darwinbox, eine globale HR-Technologieplattform, hat eine Investition von 140 Millionen Dollar gesichert, die gemeinsam von Partners Group und KKR geleitet wird, mit Beteiligung von Gravity Holdings. Gegründet im Jahr 2015, bedient Darwinbox über 1.000 Unternehmen weltweit mit seiner mobil-first und KI-gestützten Plattform für das Management von Humankapital.
Das Unternehmen hat eine signifikante internationale Expansion erreicht, mit einem fünfmaligen Umsatzwachstum in internationalen Märkten in den letzten zwei Jahren, wobei über 60% der neuen Einnahmen aus diesen Märkten stammen. Darwinbox ist in der Asien-Pazifik-Region, im Nahen Osten, im Vereinigten Königreich und in den USA tätig und bedient über 3 Millionen Mitarbeiter von Marken wie Starbucks, Nivea, AXA und Cigna.
Im Jahr 2024 wurde Darwinbox als Challenger im Gartner Magic Quadrant für Cloud HCM Suites anerkannt und ist damit das jüngste und einzige asiatische Unternehmen, das diese Auszeichnung erhält. Die Investition wird die technologische Führungsposition von Darwinbox unterstützen und die internationalen Expansionspläne beschleunigen.
- Secured significant $140M investment from major investors
- 5x revenue growth in international markets
- 60% of new revenue from international markets
- Expanded customer base to 1,000+ enterprises globally
- Recognition in 2024 Gartner Magic Quadrant
- None.
Insights
KKR's co-led
The investment thesis appears sound given Darwinbox's impressive growth trajectory - achieving
Darwinbox's enterprise client base of 1,000+ companies and 3 million end-users demonstrates product-market fit at scale, while their Gartner Magic Quadrant recognition as a Challenger validates their technology approach in a competitive landscape. The company's mobile-first, AI-enabled platform and recent multi-country payroll expansion position it well against legacy HR systems.
The co-investment structure with Partners Group - a major private markets player - suggests shared risk and potentially enhanced oversight while allowing KKR to deploy capital efficiently across multiple opportunities. This pattern of selective growth-stage technology investments throughout Asia demonstrates KKR's disciplined implementation of their stated strategy, potentially yielding strong returns as these companies mature toward IPO or strategic acquisition.
Founded in 2015, Darwinbox is a mobile-first and AI-enabled human capital management platform that serves more than 1,000 enterprises around the world. In less than a decade, Darwinbox has expanded internationally across multiple markets, including
In 2024, Darwinbox was recognized as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites for enterprises with more than 1,000 employees, making it the youngest and only Asian company to receive the accolade.
“This investment is a testament to Darwinbox’s strong fundamentals and the trust we have earned from our 1,000+ global customer base,” said Jayant Paleti, Co‐founder of Darwinbox. “By placing the employee experience front and center — and ensuring our platform is deeply configurable to diverse local needs — we have helped transform HR for enterprises globally. With top-tier investors backing us, we’re poised to amplify our global momentum and deliver innovative AI‐powered solutions for thousands of enterprises worldwide.”
Cyrus Driver, Managing Director, Private Equity, Partners Group, comments, “Darwinbox operates in the rapidly growing HR tech market, which we have been tracking through our thematic research. The company is acting as a key disruptor to legacy platforms in this space, investing heavily in product innovation, generative AI, and global expansion, and is well positioned to take market share. We look forward to working with Darwinbox’s talented management team on driving future growth. The company represents another exciting addition to our private equity growth portfolio.”
Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “Darwinbox has established itself as a leading player in the human capital management space in a short span of time through its focus on innovation and customer centricity. We are pleased to support Darwinbox on its next stage of growth and will look to draw from our global network and expertise to accelerate its international expansion ambitions.”
Globally, over 3 million employees from leading brands — including Starbucks, Nivea, AXA, Cigna, WeWork, Crisil (an S&P company), T-Systems, and more — rely on Darwinbox’s platform for modern HR management. Darwinbox’s recent wave of product rollouts — highlighted by a multi-country payroll solution and enhanced GenAI features — demonstrates its commitment to next-generation HR innovation.
Partners Group invests through its growth equity strategy, which applies a thematic approach to identify investment opportunities in growth-stage companies globally. Partners Group made its first growth investment in 2013 and has deployed around
KKR makes its investment from its Asia Next Generation Technology strategy, which seeks to support the growth of innovative, disruptive companies in
Avendus Capital acted as the financial advisor and investment banker on this transaction.
About Darwinbox
Founded in 2015, Darwinbox is a global HR tech leader that empowers enterprises to better manage their talent with new-age employee experiences and disruptive AI-powered technology. Its cloud-based Human Capital Management (HCM) software caters to an organisation's HR needs across the entire employee lifecycle. Darwinbox is trusted by over 3 million employees from more than 1000 enterprises across 130 countries. Darwinbox has been backed by global investors like TCV, Microsoft, Salesforce Ventures, Peak XV, Lightspeed and Endiya Partners among others.
About Partners Group
Partners Group is one of the largest firms in the global private markets industry, with around 1’800 professionals and over
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
About Gravity Holdings
Gravity Holdings is a technology growth equity firm. Gravity invests in technology businesses whose persistent competitive advantages support unusually high growth and cash generation over the long term. Gravity leverages its global network to unlock bespoke growth opportunities for the firm’s small handful of partnerships. For further information please visit www.gravityholdings.com.
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Media Contacts
For more information, please contact:
For Darwinbox
Rishita Chiranewala
Rishita.Chiranewala@darwinbox.in
For Partners Group
Henry
Henry.Weston@partnersgroup.com
For KKR Asia Pacific
Wei Jun Ong
WeiJun.Ong@kkr.com
Source: KKR & Co. Inc.
FAQ
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