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AI-powered HRtech unicorn Darwinbox completes Rs 86 crore ESOP buyback
- Darwinbox, a Hyderabad-based HRtech unicorn, completed an Rs 86 crore ESOP buyback.
- It was the company's third liquidity event in four years, involving over 350 employees globally.
- This ESOP buyback was the largest in the company's history, directly acquiring stock options from employees.
- Darwinbox focuses on internal capital for employee wealth creation, part of a trend in startups.
- The Co-founder, Jayant Paleti, emphasized the importance of sharing success with employees.
- Founded in 2015, Darwinbox offers cloud-based HCM software for HR needs across the employee lifecycle.
- The company serves over 4 million employees from 1000+ enterprises across 130 countries.
- Darwinbox is backed by investors like KKR, Partners Group, TCV, Microsoft, and Salesforce Ventures.
- It recently raised $140 million in a round led by KKR and Partners Group, valuing the company at $950 million.
- Darwinbox has focused on enhancing its AI-led HR infrastructure, introducing innovative products.
- Recent product innovations include the MCP Server for AI agents' access to HR data and Darwinbox Sense, a generative AI engine.
- The company expanded its multi-country payroll offering to 10 new geographies.
- Its FY24 revenue surged 58% to Rs 392 crore, driven by international expansion and R&D investment.
- Darwinbox targets similar growth levels for FY25 as it continues to strengthen its position in HR tech.
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