Concept: Indian startup Darwinbox has introduced an AI-powered HR cloud software solution that enables businesses to automate day-to-day HR processes, streamline human interactions, and provide actionable insights to help them create better workplaces. The platform automates the employee lifecycle including payroll, recruitment, employee engagement, onboarding, expense management, attendance, people analytics, and performance management.
Nature of Disruption: Darwinbox uses AI and ML across modules to streamline HR operations and tasks throughout the employee lifecycle. Employees can use Amazon Web Services’ ML-based Rekognition framework for facial recognition in the time and attendance module. The platform employs AI and optical character recognition (OCR) to handle HR records such as bills, expenses, and employee IDs, as well as to match job prospects with open positions by evaluating resumes using multi-format CV analysis and a skill taxonomy. Its hands-free voice commands and prediction engine features aim to drive the necessary action at the right moment throughout the employment lifecycle. Vibe, an enterprise social network, is hosted on the platform, as are surveys that record employee input and data points for analytics. Managers can use the platform to send announcements, notifications, and other broadcasts to everyone in the organization, including people without corporate email addresses. Darwinbox provides a ‘groups’ feature that allows employees to find coworkers with similar interests. The platform also offers features such as payroll and recruitment tools, time and attendance tracking, performance management, employee help desks, travel and expense management, people analytics, and onboarding flows.
Outlook: Darwinbox’s HR Cloud Software Solution allows HR stakeholders to visualize, monitor, and control data flow while also allowing them to create experiences for employees along their lifecycle. Through open APIs and over 200 ready-made connectors, it offers integrations across enterprise resource planning, finance, and any other ancillary system. The startup’s clients include Starbucks, Kotak, Dominos, Mahindra, NSE, Swiggy, Nivea, and Tokopedia. In January 2022, Darwinbox raised $72M in a Series D funding round led by Technology Crossover Ventures (TCV) with participation from Salesforce Ventures and Sequoia Capital India. It plans to use the capital for enhancing product innovation and sales and marketing, as well as expand its Asian markets.