Teachers’ Venture Growth (TVG), the late-stage venture and growth investment platform of Ontario Teachers’ Pension Plan, has made a follow-on investment in the human capital management (HCM) platform Darwinbox.
The latest investment marks TVG’s second investment in Darwinbox, following its initial investment in the company in 2025. The financial details of the transaction have not been disclosed.
Founded in 2015 by Jayant Paleti, Chaitanya Peddi, Rohit Chennamaneni and Vineet Singh, Darwinbox provides a mobile-first, cloud-based HCM platform that helps organisations manage different stages of the employee lifecycle.
Its platform covers areas ranging from hiring and onboarding to talent management and employee retention.
Darwinbox Expands Its HCM Platform
Darwinbox has continued to expand its HCM product suite, with a focus on workflow automation, simpler HR operations and more personalised employee experiences.
The company is also increasing its focus on artificial intelligence as it looks to bring more automation and intelligence into HR processes.
In August, Darwinbox launched Darwinbox Cortex, an AI-native HCM platform. The product was introduced with pilot customers including Fortune 1000 companies Visteon and Transcarent.
Cortex is designed to bring AI-driven intelligence, context and execution into Darwinbox’s existing platform. The company is developing the platform with technology partners including Microsoft, Slack and Glean.
The platform extends AI capabilities into the applications and workflows employees use as part of their day-to-day work.
Global Expansion
Darwinbox currently serves more than 1,400 companies and 4.5 million employees globally, according to the company.
It has recorded a 70% compound annual growth rate (CAGR) over the past five years and has expanded across key markets including the United States, Middle East, India and Southeast Asia.
The company’s continued growth across these markets has strengthened its position in the global HCM software segment, while its latest product developments are focused on bringing AI and automation deeper into HR and employee workflows.
TVG’s follow-on investment comes as Darwinbox continues to expand its technology offering and global presence, with AI becoming an increasingly important part of its HCM strategy.
-By Shivani Solanki
