Tel Aviv, Israel-based HiBob, a cloud-based HRtech platform with European headquarters in Amsterdam, announced on Wednesday that it has raised $150M (approximately €147.63M) in a Series D round of funding.
The round comes just ten months after the company raised $150M in a Series C round in October 2021. With $424M in total funding, the HRtech platform is now valued at $2.45B (approximately €2.41B).
HiBob claims to have witnessed a sixth consecutive year of triple-digit sales growth. To support its growth and customer base, the company has doubled in size with more than 370 new hires since Q4 2021. It has also opened an office in Berlin and extended its New York and London operations to better serve the DACH region.
With the raised capital, the company has plans to further open regional offices in the next 24 months.
Investors supporting HiBob
The current round was led by growth equity firm General Atlantic, with participation from existing investor Bessemer Venture Partners and others.
Anton Levy of General Atlantic says, “Business leaders of midsize companies understand the mission-critical role a flexible HR technology platform can play in managing their teams. As the workforce continues to evolve, Bob provides modules that go beyond core HR – including talent management, workforce planning, and compensation management – helping to augment the employee experience and support customers in retaining top talent. We are proud to continue to partner with HiBob.”
Established in 1980, General Atlantic has more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. The firm currently has over $73B in assets under management, and more than 215 investment professionals.
“HR platform that powers productivity, engagement, and retention”
Founded in 2015 by Israel David and Ronni Zehavi, HiBob offers a cloud-based human resource and benefits platform that allows companies to streamline their HR processes. The platform, named Bob, provides HR departments with all the technology needed to manage their workforce right from requesting documents, setting up accounts, and more.
CEO Ronni Zehavi says, “The competition for talent remains intense even in the midst of increasing market uncertainty. Modern businesses that value their talent know that HRIS is not simply about headcount growth, but rather about effective and proactive people management during periods of expansion and contraction. We expect many companies to resume hiring in the quarters ahead, and smart organisations will want to have the right infrastructure in place before then.”
Unlike other systems, HiBob claims that its implementation and uses are intuitive with no need for hard-coding or technical knowledge. It says that Bob’s UI, automated processes, and integration with third-party tools ease administrative tasks across an organisation.
Currently, the platform is used by more than 2,500 multinational companies, including Cazoo, Gong, Hopin, Monzo, Happy Socks, Fiverr, and VaynerMedia.
