Canada’s Teachers’ Venture Growth makes follow-on investment into Darwinbox

Human capital management platform Darwinbox has secured a follow-on investment from Teachers Venture Growth (TVG), a late-stage venture and growth investment platform of Ontario Teachers Pension Plan. The investment amount was not disclosed. This marks the second investment by TVG in Darwinbox, after its initial investment in 2025.

Founded in 2015, Darwinbox caters to over 1,400 companies and 4.5 million employees worldwide. The company has demonstrated robust growth, with a 70% compound annual growth rate (CAGR) over the past five years, across its key markets, including the United States, the Middle East, India, and Southeast Asia.

TVG's Managing Director, Darius Vakil, stated that the company's investment reflects their confidence in Darwinbox's potential to revolutionize workforce management for large enterprises. The launch of Cortex, an AI-native platform, exemplifies Darwinbox's agility and customer-centric approach, which is crucial for the team's growth, particularly as they expand their presence in North America.

Darwinbox is actively investing in its HCM product suite to enhance workflow automation, streamline HR operations, and provide more personalized employee experiences. In August, the company unveiled Darwinbox Cortex, an AI-native HCM platform. According to Darwinbox's Co-CEO, Jayant Paleti, "Enterprise software is undergoing a generational shift towards AI-native platforms.

With Cortex, we moved early and are leading that shift in HCM, with several industry-first innovations including the first Context Graph in the category. Our focus now is to work closely with our customers, drive real adoption and value, and scale AI usage across the enterprise." Darwinbox is backed by investors such as KKR, Partners Group, OTPP, Microsoft, Salesforce Ventures, TCV, and Peak XV Partners.

The Ontario Teachers Pension Plan Board, with net assets of $303.2 billion as of June 30, 2026, is among its backers.