Teachers’ Venture Growth Doubles Down On Darwinbox With Fresh Investment

HR tech startup Darwinbox has secured an additional investment from Teachers’ Venture Growth (TVG), the venture arm of Ontario Teachers’ Pension Plan. The undisclosed amount of the secondary share sale bolstered Darwinbox’s international expansion and AI capabilities. First investing in August 2025, TVG supported the HR tech unicorn with a $40 Mn round, focusing on North American markets and AI enhancements.

Founded in 2015, Darwinbox’s cloud-based HCM platform serves over 1,400 organizations with 4.5 Mn employees worldwide, spanning key markets like the US, India, Middle East, and Southeast Asia. The company has witnessed a 70% annual growth rate over the past five years. Darwinbox’s latest AI initiative, Cortex, an AI-native HCM platform, is being developed with technology partners like Microsoft, Slack, and Glean.

The startup, co-CEO'd by Jayant Paleti, has raised $300 Mn in total funding, with its investor roster including TCV, Peak XV Partners, Lightspeed, Microsoft, and Salesforce Ventures. TVG has previously backed Indian tech startups such as Xpressbees, Perfios, Perfios, Mintifi, and Neysa.