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Darwinbox Completes ₹86 Cr ESOP Buyback, Benefits 350+ Employees Globally
- HR tech unicorn Darwinbox completed an ₹86 crore ESOP buyback benefiting over 350 employees globally.
- This marks the third ESOP buyback by the company in the last four years, showcasing its dedication to rewarding team members and promoting a culture of shared ownership.
- Darwinbox's ESOP buyback follows a $140 million funding round led by Partners Group and KKR earlier this year.
- The buyback reflects the company's focus on sustainable employee wealth creation while expanding operations.
- Co-founder Jayant Paleti emphasized the importance of sharing success with employees and fostering a culture of ownership.
- Founded in 2015, Darwinbox offers a cloud-based HR management platform leveraging AI and ML for various processes.
- With a client base of 1,000+ companies in 130 countries, including prominent names like Starbucks, McDonald’s, and Airtel, Darwinbox has shown significant growth.
- In FY24, Darwinbox recorded a 58% YoY revenue increase to ₹393 crore, positioning itself as a fast-scaling SaaS company in Asia.
- The broader Indian startup ecosystem has witnessed several ESOP buybacks recently, with Darwinbox contributing to the trend.
- Even Healthcare and Dezerv are among the startups executing ESOP buybacks, reflecting a growing practice in the industry.
- In 2024, 23 startups conducted ESOP buybacks, distributing over ₹1,448 crore in employee wealth—though this marked a 73% decrease from 2023 mainly due to Flipkart's significant buyback.
- Darwinbox's latest ESOP buyback underscores its people-centric approach and sends a positive message to employees in the burgeoning SaaS and HR tech sector in India.
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