Darwinbox, a leading human capital management (HCM) and workforce planning platform, has secured $40 million in funding from Teachers’ Venture Growth (TVG), the late-stage venture and growth arm of the Ontario Teachers’ Pension Plan.
The partnership will accelerate Darwinbox’s mission to transform enterprise HR through AI-driven innovation and rapid global expansion, with a strong focus on North America where demand for modern alternatives to legacy HR systems is rising. Since entering the region, the company has tripled its growth year on year and now supports leading global enterprises including EXL, Virtusa, Orion Innovation, Ephicacy, Apollo.io, Nivea, WeWork, Zara, Starbucks, and Adidas.
Darwinbox already powers HR technology for over 1,000 enterprises and 4 million employees across 130 countries. The company continues to invest in agentic-AI innovation, becoming the first HCM platform to support the Model Context Protocol (MCP), which enables secure interaction between AI agents and Darwinbox.
This funding follows Darwinbox’s recent US$140 million round in March 2025, led by Partners Group and KKR, and includes TVG acquiring a stake through both primary and secondary transactions. With deep expertise in scaling fast-growing technology companies across global markets, TVG joins an impressive roster of investors including KKR, Partners Group, Microsoft, Salesforce, Peak XV, Lightspeed, and TCV.
“We’re thrilled to welcome TVG as partners in our next stage of scaling,” said Jayant Paleti, Co-Founder of Darwinbox.
“HR tech, when done right, can unlock outsized value for every enterprise, yet the old guard of HCM vendors still falls short of that leap. Darwinbox exists to change that story, building the next-gen HCM company, global by design, AI‑first at the core, and relentlessly focused on customer outcomes,” he added.
Driven by its mission to shape the future of work, Darwinbox is expanding its global presence with a growing footprint across the US, Southeast Asia, and the MENA region.
