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Darwinbox Becomes Rare Asian Software Unicorn in TCV-Led Funding

  • Salesforce unit, Sequoia among investors in $72 million round
  • It serves some of Asia’s largest startups and global brands
Co-founders Jayant Paleti, left, with Chaitanya Peddi and Rohit Chennamaneni.
Co-founders Jayant Paleti, left, with Chaitanya Peddi and Rohit Chennamaneni.Source: Darwinbox

Darwinbox has secured capital from investors including a unit of Salesforce.com Inc. and Sequoia at a valuation of more than $1 billion, becoming one of the few Asian software startups to have achieved that milestone.

The company, which supplies human resources tools to major companies including Starbucks Corp., raised $72 million in a financing round led by Technology Crossover Ventures, a venture capital firm that has backed Netflix Inc., Meta Platforms Inc. and Spotify Ltd. Other participants include Salesforce’s venture arm, Sequoia Capital India and Lightspeed India, the startup said in a statement on Tuesday.