HR Tech & Analytics Platform, Darwinbox, Raises Capital from Multiple Funds Including Mohandas Pai’s 3one4

0
101

Hyderabad, India

Darwinbox, the HR Technology and Analytics platform have just concluded their first funding round with participation from Endiya Partners, Startupxseed Ventures, 3one4 capital – Mohandas Pai’s investment vehicle capital and Tracxn Labs. The funds raised will be used for product development, enhancing customer experience and expanding across India.

The company’s HR Technology product is a significantly superior, integrated & modern HR SaaS platform that has received extremely strong feedback from the market. It already has 25,000+ employees using the platform and has marquee clients including Delhivery, Swiggy, Voonik, Sai Life Sciences etc.

The company which started in 2015 has a 3 member founding team

Rohit Chennamaneni – McKinsey, Google, IIM Lucknow

Jayant Prasad Paleti – Investment banker at EY, IIM Lucknow, IIT Madras

Chaitanya Peddi – EY HR Consulting, XLRI, Product development at Verizon

“With Darwinbox HR, we want to engage & empower employees on one side while automating and simplifying HR processes on the other. The focus is on more strategic elements of Employee Lifecycle like Engagement, Performance Management and Recruitment while perfecting the basic modules like Leaves, Attendance and Payroll Management.” – Rohit Chennamaneni, co-founder

“This round of funding will help us strengthen our product offering & enhance customer experience, and will further our mission of building great products that will enable the HR function to become a source of competitive advantage for organizations”
– Jayant Prasad Paleti, co-founder

“Long implementation times and extended training periods are a huge pain point in getting a new platform for the organisation. We obsess to build an extremely flexible yet powerful system to significantly cut down time, effort and cost of implementation. Our interfaces are so intuitive that even a first time user would be able to effortlessly navigate through the whole system with zero or minimal training even to handle complex processes” – Chaitanya Peddi, co-founder

Mohandas Pai, investing via 3one4 Capital, says “Darwinbox has assimilated the many years of the founding team’s experience in the space to solve for a powerful value proposition. The solution not only caters to full-stack workflows in the domain, it also helps companies engage their employees over multiple channels. The platform, therefore, targets the large asymmetries on both sides and contributes towards the utilization of the accumulated human capital much more efficiently. The long term effects are clear – better hiring decisions, clearer communication of incentives, stronger relationships with workforces that are increasingly more distributed, and deeper integrations with a whole universe of tools that are improving the overall ecosystem. We are excited to work with the Darwinbox team, and are looking forward to joining them on their journey.”

Sateesh Andra, MD, Endiya Partners says ” Consumerisation of enterprise technology is the next big wave in B2B space. There is a huge need especially in the HR space for cloud-based technology which is intuitive to use and is on mobile. We are pleased to lead the investment round with Darwinbox and partner with them as they create a world class integrated HR product for enterprises”

Mr. B.V.Naidu, Managing Partner, StartupXseed Ventures Says “the Darwinbox founding team comes with a strong experience in serving enterprise clients. They understand the pain points of the businesses deeply and are well positioned to disrupt the market with their offering. We are happy to participate in this round of funding to further enhance the product and technology”

About Darwinbox

Darwinbox HR is a cloud-based integrated HR Technology platform which takes care of an organization’s HR needs across the entire employee life cycle starting from Recruitment to Core transactions (Leaves, Attendance, Directory), Payroll, Employee Movement, Employee Engagement, Talent Management and People Analytics.

About Endiya Partners

Endiya Partners is a premier, early-stage Venture Capital Fund that invests in ideas with potential to change the world across Technology, Healthcare and Consumer Services sectors. Endiya believes in ‘Co-Creation’ – hand-holds Startups through Idea/Market Validation, Team Building, Business Model Refinement, Customer/Partner Acquisition and facilitates Follow-on Funding.

Endiya team has strong domain expertise and comes from entrepreneurial background with global operating experience and investor capabilities (DFJ, Ventureast)

About Startupxseed Ventures

StartupXseed is a Strategic programme, for supporting the aspiring entrepreneurs with great ideas. StartupXseed is a unique programme combined with Seed fund, Strategic support, Market Access, Mentorship and closely supported by the Investor/advisory board of StartupXseed. Founded in June 2015 by Mr. B. V. Naidu along with Mr. Mohandas Pai (Aarin Capital), Mr. J. A. Chowdary, Mr. Ramakrishna V and supported by like-minded team from the Industry, Academia and Professionals, StartupXseed supports budding entrepreneurs both at the Strategic as well as Seed level

About 3one4 Capital

3one4 Capital is the family investment fund of Mr. Mohandas Pai. 3One4 Capital works in select market categories that are large, growing, and ready for unique products and services. Through a deep involvement strategy, the fund works with founding teams and subject-matter experts to prioritize and strategize for product-market fit, and then optimize for defensibility and growth in revenue and impact