Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses

HR tech unicorn Darwinbox sustained its growth in FY25, with operating revenue rising 50% year-on-year, aided by international expansion and deeper penetration in existing markets, the firm said in a press release.

According to the company, Darwinbox’s revenue from operations grew to Rs 533.9 crore in FY25 from Rs 334 crore in FY24.

International markets contributed 63% of new sales, as overseas revenue soared 83% YoY, representing the second consecutive year of over 80% growth. Darwinbox added that its U.S. operations launched two years ago and are beginning to gain meaningful traction, alongside strong adoption in SEA and MENA regions, according to the release.

When it comes to the bottom line, the company’s adjusted net loss improved by 12% over FY24, excluding non-cash ESOP expenses. Excluding investments in the U.S. business, the adjusted net loss narrowed 42% year-on-year, as per the press release.

Hyderabad-based Darwinbox offers a cloud-based HR management platform covering recruitment, payroll, engagement, talent, and analytics. The firm said most of its revenue comes from Southeast Asia and India. It has over 1,016 enterprise customers globally.

According to startup data intelligence platform TheKredible, Darwinbox has so far raised over $290 million across multiple funding rounds, including its $140 million in March co-led by Partners Group and KKR.

The company also recently granted $21 million in ESOPs to its employees, a development exclusively reported by Entrackr. This follows its Rs 86 crore ($10 million) ESOP buyback in June this year.