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Darwinbox - Next Generation HCM Technology 2023
Vendor Analysis
published on Aug 08, 2023
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Report Overview:
This NelsonHall assessment analyzes Darwinbox's offerings and capabilities in Next Generation HCM Technology
Who is this Report for:
NelsonHall’s Next Generation HCM Technology Vendor Assessment for Darwinbox is a comprehensive assessment of Darwinbox’s HCM platform offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of HCM Technology and identifying vendor suitability for HCM Technology RFPs
- Vendor marketing, sales, and business managers looking to develop strategies to target service opportunities and benchmark themselves against their peers
- Financial analysts and investors specializing in the HR Technology sector
- HR and Payroll decision makers.
Scope of this Report:
The report provides a comprehensive and objective analysis of Darwinbox’s Next Generation HCM Technology services, offerings and capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization, including delivery centers.
Key Findings & Highlights:
NelsonHall’s vendor assessment analyzes Darwinbox’s offerings and capabilities in HCM Technology services. Darwinbox, one of Asia’s leading cloud-based Human Resource Management Software (HRMS) solutions, is headquartered in Hyderabad with offices located across India and other countries such as Singapore, Manila, Bangkok, and the U.S. Founded in 2015 and starting with the most required HR functions, attendance and payroll, Darwinbox’s mission has been to provide a product that went beyond standard HR solution providers by including additional services like asset management, expense management, and helpdesk/ticketing.
Darwinbox's business operates on a SaaS model that offers enterprise-focused solutions across the employee life cycle to engage and empower employees while automating and streamlining all HR functions. Some of the products & solutions offered by Darwinbox are:
- Core HR
- Payroll
- Time & Attendance
- Recruitment & Employee Onboarding
- Performance & Talent Management
- Compensation Planning
- Expense Management
- Reporting & People Analytics
- Employee Intranet/ Internal Social Network (Vibe).
Darwinbox is considered a “unicorn startup” after raising $78 million in a Series D funding round in January 2022. The round was led by TCV, a marquee U.S. tech fund, with existing investors Sequoia, Lightspeed, and Salesforce participating as well. Darwinbox‘s customers are largely mid and small-market organizations, with India being the largest region serviced and top verticals including high-tech, manufacturing, banking and securities, and retail & CPG.
Darwinbox has ~1100+ global employees and an AI-powered, cloud-based end-to-end HRMS suite supporting ~850 enterprise workplaces with ~2.2 m employees in 107+ countries. The 100% cloud-native platform is hosted on AWS and has single sign-on and multi-factor authentication.