At a time when ‘funding winter’ makes start-ups shiver, IT and technology major, Microsoft, has announced an equity investment Darwinbox, a HR tech company that turned a unicorn last year.
It is not just a financial investment. Microsoft will integrate the start-up’s Human Capital Management solution with its collaboration platform ‘Teams’, making it easier for employees to collaborate and take care of their all human resource needs.
“It is a big milestone for us. As it brings in investments, Microsoft will help us in expanding to newer geographies and customers,” Jayant Paleti, Co-Founder, Darwinbox, told businessline. As part of this collaboration, Darwinbox will adopt Microsoft Azure for enhancing its Human Capital Management (HCM) SaaS platform.
The collaboration will include deep integrations between Darwinbox and the Microsoft product ecosystem, and co-innovation on solutions to enhance employee experience.
“The relationship will also accelerate joint go-to-market motions in all markets that the leading Human Capital Management player operates in,” he said.
The SaaS (software-as-a-service) start-up became the first unicorn from Hyderabad in January 2022 as it raised about $70 million from a bunch of investors led by Technology Crossover Ventures (TCV).
The company, which has about 1,100 employees, serves over 750 enterprises with an aggregate employee base of 20 lakhs.
Darwinbox’s cloud-based Human Capital Management (HCM) platform caters to HR needs across the entire employee lifecycle with new-age employee experiences and disruptive AI-powered technology.
The company onboarded key executive leadership from EY, Deloitte, and Microsoft last year.
“We will co-innovate on multiple lines of IP development and take our solutions to our customers globally,” Jayant said.
The list of the company’s clients includes Starbucks, Dominos, Tokio, JSW, Adani, Vedanta, Mahindra, and SBI General. “Start-ups across the country are making possible new ways of doing business. Darwinbox is reimagining the frontiers of employee experience with the power of technology,” Anant Maheshwari, President, Microsoft India, said.
“Our collaboration with Darwinbox builds on our focus of co-innovating with our customers to empower organizations across India to do more with less,” he said.
Darwinbox’s mobile-first platform continues to enhance and personalise employee experience (EX) by bringing HR transactions and experiences into the flow of work with Dynamics 365 and Office 365 platforms like Microsoft Teams, Viva, and Active Directory.
“Darwinbox has leveraged Microsoft’s Power BI to further augment its AI-based predictive analytics engine, to build rich visual analytics dashboards,” Darwinbox said.
This will help employees use data more effectively and take business decisions faster.