INSUBCONTINENT EXCLUSIVE:
An Indian SaaS startup, which is increasingly courting clients from outside of the country, just raised a significant amount of capital to
expand its business.Hyderabad-based Darwinbox, which operates a cloud-based human resource management platform, said on Thursday it has
raised $15 million in a new financing round
investors Lightspeed India Partners, Endiya Partners, and 3one4 Capital.More than 200 firms including giants such as adtech firm InMobi,
fintech startup Paytm, drink conglomerate Bisleri, automobile maker Mahindra, Kotak group, and delivery firms Swiggy and Milkbasket use
TechCrunch in an interview.The startup, which competes with giants such as SAP and Oracle, said its platform enables high level of
configurability, ease of use, and understands the needs of modern employees
offers a range of features including the ability for firms to offer their employees insurance and early salary as loans
Its platform also features social networks for employees within a company to connect and talk, as well as an AI assistant that allows them
platform is built to handle onboarding new employees, keeping a tab on their performance, monitor attrition rate, and maintain an ongoing
This trend is gathering steam and is disproving the conventional wisdom that Asia-focused SaaS companies cannot get to be big companies
We firmly believe that Asia-focused SaaS companies can get to large impact value and become large and profitable
Indonesia, Malaysia, Thailand, and other Southeast Asian markets
The startup is also looking to make its platform enable tasks such as booking of flights and hotels.Chennamaneni, an alum of Google and
McKinsey, said Darwinbox aims to double the number of clients it has in the next six to nine months.
