HR tech firm promotes CTO Vineet Singh to co-founder position after 9 years with company
Company reports revenue growth to INR 224.04 Cr in FY23, but net loss increases to INR 158.25 Cr
Darwinbox expands globally, now serving over 900 customers in 130 countries
HR tech unicorn DarwinBox
has elevated Vineet Singh, its Chief Technology Officer (CTO), to the position of co-founder. The move comes as the company reports significant growth and expansion in global markets.
Singh, who joined Darwinbox in 2015, has been instrumental in scaling the company’s engineering and R&D teams to 400 members. He has played a key role in developing Darwinbox’s HR tech platform into a full-fledged Human Capital Management (HCM) suite with 15 modules.
“Vineet has been pivotal in realising Darwinbox’s vision to build a global-standard enterprise tech product from India,” said Chaitanya Peddi, co-founder of Darwinbox. “He has successfully scaled our engineering and R&D teams and has played an active role in areas beyond technology to positively impact Darwinbox’s growth.”
Darwinbox reported a near doubling of its operating revenue to INR 224.04 Cr in FY23, up from INR 116.73 Cr in FY22. However, the company’s net loss increased to INR 158.25 Cr due to higher expenses, including employee costs and cloud hosting expenses.
Singh said, “As I step into the role of co-founder, we will further accelerate our technological innovations, embedding AI as a platform capability to deliver better experience and contextual intelligence to our customers.”
Darwinbox currently serves over 900 customers across more than 130 countries, with clients including Adani, MatchMove, and Mahindra. The company has expanded its presence in various international markets, including the US and UK.
Founded in 2015, Darwinbox provides cloud-based HCM software and has been backed by investors including TCV, Microsoft, Salesforce Ventures, Peak XV, Lightspeed, and Endiya Partners.
