Darwinbox has raised $72 million in a funding round led by Netflix backer TCV at a valuation of more than $1 billion, thus making the cloud-based HRtech startup the fourth unicorn so far this year.

With the latest fundraise, the Hyderabad- and Singapore-based firm has now raised a total of $110 million from investors, cofounder Jayant Paleti.

The lead investor, US-based TCV, is known for its bets on major US firms, including Airbnb and Netflix.

Paleti said the company aims to double down on global expansion and accelerate its product development plans, after having grown 200% in the last one year. “We are looking to enter the US markets this year. It will be a super force multiplier, but could become a substantial contributor to revenue in the next three-four years,” he said, adding that despite the pandemic, Darwinbox grew significantly in Southeast Asia, while India has been a strong market for it.

Darwinbox is looking to double its team strength to 1,400, in line with its expansion plan for this year. “There will be a lot more focus on employee experience. There are product-led pieces that will add to the experience,” Paleti said. “For example, conversational capabilities, surveying elements etc.”

Gopi Vaddi, general partner at TCV, said it is typically excited backing founders who are “fundamentally transforming large industries” with a highly resonant product. “I am delighted to back an outstanding team that is doing exactly that in a highly impactful, fast-evolving HR technology space and partner with them on their journey to global human capital management leadership,” Vaddi said.