December 6, 2022

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Awesome Business

HR tech start-up Darwinbox eyes IPO in next 2-3 years

2 min read

Darwinbox, a HR tech start-up that has become a unicorn early this year, is looking to go for an IPO in the next 2-3 years.

Rohit Chennamaneni, Co-Founder of Darwinbox, said that the company is in talks to raise a strategic investment ahead of the initial public offer (IPO).

The company, which has nearly 1,000 employees, has said that it would hire 500 more in the next six months to support its geographical and production expansion.

“We are going to hire 300 employees for our Hyderabad development centre, taking the total number at the centre to 1,000,” he said.

“We will have 2,000-2,500 employees in the next two years,” he added.

Besides expanding the operations in the US, the company is planning to expand its operations to Japan, Australia and Japan.

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“After that, we will go to Europe and Latin America,” he said.

On Monday, the company moved its headquarters to a 75,000 sq ft facility that can seat 1,000 employees.

Besides India, the company has operations in Indonesia, the Philippines, Singapore, Thailand, Malaysia, the UAE and the US.

Rohit, along with other Co-Founders Jayant Paleti and Chaitanya Peddi, started the company in 2015, targeting a space which was largely dominated by foreign companies.

The firm claims that it is already challenging global biggies such as SAP, Oracle, and Workday in some markets.

According to the company, it has 700 clients who in turn has 20 lakh users. The clients include JSW, Adani, Vedanta, Mahindra, Makemytrip and Swiggy.

The company raised $72 million in January 2022 in a Series-D round led by TCV.

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