Microsoft Picks Up Strategic Stake In Hyderabad-Based HR Tech Unicorn Darwinbox
The partnership is the first of its kind in the global human capital management market, according to Darwinbox.
Microsoft Corp. has picked up a strategic stake in Hyderabad-based human resources software unicorn Darwinbox at an undisclosed amount.
The partnership is the first of its kind in the global human capital management market, according to Darwinbox. Microsoft has committed resources to its product development and research, including "deep product integrations across several Microsoft product lines - MS Teams, Office 365, Dynamics 365, Microsoft Viva, etc."
While the startup didn't disclose the size of Microsoft's investment, it last raised around $70 million in a Series D round in early 2022 that valued the company at just above a $1 billion valuation.
As part of the deal, Darwinbox's product ecosystems will also integrate with Microsoft's Native Power BI and Azure data Lake. "The integration promises two major advantages – exceptional data visualisations to help aid better decision-making, and the ability to scale HR analytics at an organisational level. This enables augmentation of people data with business data," it said.
In Novembe 2022, Darwinbox inaugurated its new global headquarters in Hyderabad, the city it was founded in, in 2015. The unicorn has increasingly positioned itself as an Asian-origin startup, as it has offices in Pune, Gurgaon, Bengaluru, Jakarta, Manila, Singapore, Kuala Lumpur and other cities.
Darwinbox was co-founded by Rohit Chennamaneni, Jayant Paleti and Chaitanya Peddi. It has over 700 clients, with names such as JSW, Adani, Vedanta, Vedantu, Mahindra, Makemytrip, Swiggy, Nivea, Starbucks, and Dominos.