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Asia HR tech platform Darwinbox becomes unicorn with TCV-led $72 million funding

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Asia HR tech platform Darwinbox becomes unicorn with TCV-led  million funding

HR tech platform Darwinbox more than tripled its valuation in a new $72 million funding round, making it a unicorn as the Indian startup spearheads what investors call the “SaaSization of Asia.”

Investor Technology Crossover Ventures (TCV), known for backing companies including Netflix, Meta, Spotify and Airbnb, led the Hyderabad-based startup’s $72 million Series D funding round.

Existing investors including Lightspeed Venture Partners, Sequoia Capital India, Salesforce Ventures, 3One4 Capital, Endiya Partners, and SCB 10X also participated in the round, which brings Darwinbox’s historical fundraising to over $110 million and a valuation of over $110 million. $1 billion. said the six-year-old startup.

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Darwinbox operates a cloud-based human resource management platform. The startup’s eponymous platform manages employees’ needs throughout the “hire-to-retire” cycle. Hundreds of companies, including Starbucks, Domino’s, recently turned decacorn Swiggy, Tokopedia, Zilingo and Kotak, use the startup’s platform to handle the onboarding of new employees, understand their performance, attrition and build a Continuous feedback loop.

The new funding comes after a year of strong growth for Darwinbox. In an interview with TechCrunch, co-founder Chaitanya Peddi said the pandemic has accelerated Darwinbox’s growth as companies around the world scramble to find tools to coordinate and serve their employees.

The startup said its revenue doubled last year and tripled in Southeast Asia, accounting for about 20% of its total revenue.
The startup’s full-stack products — including a social network to keep employees connected and an AI assistant that can request time off or schedule meetings with quick voice commands from their phones — helped cement its status as the only Asian Gartner Featured startups in the Magic Quadrant for Enterprise Cloud HCM.

The breadth of offerings probably explains why one-third of Darwinbox’s customers today are people who previously used Oracle, SAP, and Workday’s more mature platforms.

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Gopi Vaddi, general partner at TCV, said in a statement: “We are most excited about investing in visionary founders who are fundamentally changing large industries with highly resonant products.”

“I’m excited to support an amazing team that has done this in a highly impactful, fast-moving HR technology space, and to partner with them on their journey to global HCM leadership.”

Dev Khare, a partner at Lightspeed Venture Partners, said Darwinbox is part of a wave of startups built for the world from Asia. “I’m a big believer in the SaaSization of Asia. I’m seeing an increasing market traction for Asia-facing SaaS companies, which is a sea change from what I observed five years ago,” he said on LinkedIn in 2019. wrote in the post.

Complete News Source : techcrunch

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Stephanie Hsu and Zosia Mamet talk about their new series Laid, and some of the horrors of dating as millennials.
Imagine a scenario where anyone and everyone you have ever been intimate with begins to die one by one. Is it a curse? If yes, then who is cursed? These are questions that Stephanie Hsu‘s Ruby battles with in the new zany comedy, Laid. Ahead of the show’s release, Stephanie and co-star Zosia Mamet spoke exclusively with HT about their roles, the show’s unique premise, and the horrors of dating as millennials. (Also read: Dune: Prophecy star Emily Watson on working with Tabu: ‘She is a true treasure’)

Stephanie Hsu on her character’s flawed morality

Laid, created by Nahnatchka Khan and Sally Bradford McKenna, is the story of Ruby (Stephanie Hsu), who discovers that all her sexual partners are dying one by one, and she must warn them. Helping her in this unique quest is her best friend AJ (Zosia). The fun thing about Laid is that the protagonists are not the usual likeable characters. “She is totally an anti-hero of our story. I really love that,” says Stephanie, referring to Ruby’s moral greyness. “I am not a perfect person and I love playing flawed characters. But it was difficult. The creators told me that she is a total narcissist. But narcissists don’t think they are one, so I had to figure out a way to love her. For me, playing Ruby was about getting into her psychology and finding the innocent part of her – which is that she just wants love,” the actor adds.

While sitcoms usually add the best friend as the voice of reason trope, Laid diverges from that, with AJ even zanier and more morally ambiguous than Ruby. Talking about playing such a colourful character, Zosia Mamet says, “When you play not-so-likable or zany characters, people don’t believe they are that way. I don’t think AJ wakes up every morning and thinks, ‘I am absolutely crazy’. It’s about trusting the writing and finding an organic way into these characters to make them seem grounded, real, and relatable.”

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Stephanie, Zosia reveal the worst gifts they received from partners

In Laid, Ruby gives the gift of death to the men she is with, even if that is inadvertent. Ask the women about the worst ‘gift’ a partner has ever given them, and the discussions veer into the unusual horrors of modern-day dating. “I got a vintage wooden duck decoy from someone. It was broken, and I thought, ‘What does this say about our relationship?’. They didn’t know me well enough to know if I’d want this but also that they gave me something old and ailing,” Zosia says with a laugh.

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