Indian HR-tech unicorn startup Darwinbox has secured $4 million (INR 32.5 Cr) from Microsoft Corporation. Darwinbox shareholders passed a resolution to allot one equity share and over 11K Series D3 compulsory convertible preference shares to Microsoft Corporation at a general meeting on October 31. The round seems to be an extended round of the startup’s Series D round which had helped it enter the unicorn club.

Founded in 2015 by Chaitanya Peddi, Jayant Paleti, and Rohit Chennamaneni, Darwinbox is a cloud-based integrated HR technology product that takes care of all HR needs such as recruitment, payroll, employee engagement, talent management, and people analytics across the employee life cycle.

Darwinbox has more than tripled its valuation to become a unicorn in a new $72 million funding round as the Indian startup leads what an investor calls the “SaaSification of Asia” trend. The funding round was led by Technology Crossover Ventures (TCV). Existing investors Salesforce Ventures, Sequoia India, Lightspeed India, Endiya Partners, 3one4Capital, JGDEV, and SCB 10X also participated in the round.

Darwinbox to date has raised close to $110 Mn in multiple rounds. The company claims to be the third-largest SaaS-based HRtech firm after SAP and Oracle. According to its website, the platform has serviced over 1.5 million employees across 650 plus organisations and 90 industries.