Darwinbox Aims for IPO Amid Buyout Interest from Microsoft and Salesforce

HR and payroll services provider Darwinbox is drawing interest from major players Microsoft, Salesforce, and ADP as it prepares for a potential IPO. The company's valuation has increased to around $1.8-2.0 billion, up from $1 billion when it raised $140 million in funding last year.

The existing investors have approached Darwinbox's founders and board with the intention of buying them out. Salesforce and Microsoft want to add payroll services to their product offerings, while ADP wants to deepen its expertise in this area.

Darwinbox has so far raised $290 million across various funding rounds and has over 1,000 clients worldwide, including major brands such as Adani, Mahindra, and JSW. The company's growth was driven by international expansion and deeper penetration in existing markets.