Bengaluru, India, Jan 19, 2021 -- Salesforce Inc. has invested in Darwinbox, an enterprise human resources (HR) technology platform, via its investment arm Salesforce Ventures. This is the first investment by Salesforce in an Indian venture.
"Cloud adoption in Asia is growing at a monumental pace and the pandemic has only further amplified the importance of going digital," said Alex Kayyal, partner and head, international, Salesforce Ventures.
"Darwinbox is delivering innovation for Asia’s leading enterprises and has emerged as a platform of choice," he said.
"More and more enterprises are abandoning legacy offerings in favour of our modern, agile human capital management platform that helps them stay ahead of change," Paleti said. "We will work with Salesforce closely to maximize value for our customers, continue building out our product stack, and accelerate global expansion," he said.
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Darwinbox had capital on its balance sheet and wasn’t actively looking for an investor, but the value that Salesforce adds to its journey is "monumental", Paleti said.
The latest investment round follows the company’s Series B round, raised in September 2019 and led by Sequoia Capital India with participation from existing investors Lightspeed India, Endiya Partners, and 3one4 Capital.
"In the next 1-2 years, we want to build a great product story from India, heavily invest in deep tech and product, and build out data analytics capabilities by leaning on Salesforce to actually maximise value for clients," Paleti said.
"India is home to one of the world's youngest population and, by 2050, it is expected to account for more than 18% of the global working age population," said Arundhati Bhattacharya, chairperson and chief execuitve, Salesforce India. "This makes technology platforms such as Darwinbox, which focus on workforces, incredibly important," she said.
Posted by Veronica Silva Cusi, news correspondent
Salesforce.com delivers software-as-service offering a family of on demand solutions for integrated sales force automation, campaign management, customer service and support, and document and file management to help companies meet the complex challenges of global customer communication. The company has introduced sforce, a new service that will change how applications are built as significantly as salesforce.com changed how applications are delivered.
Published: Wednesday, January 20, 2021
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