The COVID-19 pandemic has thrown our world into uncharted terrain. As everyone navigates through unprecedented times and transitions, HR’s role has proven itself to be critical for businesses’ success and fostering positive employee morale. In fact, they are at the front lines of any employers’ response to the COVID-19 crisis.
As a result, this pandemic has forced almost every business to develop and improve remote work policies and procedures immediately. This is where HR tech startup Hibob helps. It’s an Israeli startup that works to simplify people management, culture building, and employee engagement for remote and dispersed workforces.
Recently, the company raised $70 million (approx €58 million) in Series B funding led by investors SEEK and Israel Growth Partners (IGP). The latest funding round follows its Series A+ financing in 2019, backed by investors Bessemer Venture Partners, Battery Ventures, Eight Roads Ventures, Arbor Ventures, Presidio Ventures, Entrée Capital, Cerca Partners, and Perpetual Investors – all of whom have additionally contributed to the current capital raised.
This investment will allow Hibob to drive wider global expansion while contributing to further Hibob product development. To date, the company has raised $124 million (approx €102 million) since its inception in 2015.
“As we were developing the concept behind our platform, we looked at the world of work and recognised that it was changing. I’ve spent my career managing people in different kinds of organizations and came to the realisation that the vast majority of HR tech tools I used were not designed for the way people work today – globally, remotely, and collaboratively,” said Ronni Zehavi, CEO and Co-founder of Hibob. “We founded Hibob to create a modern HR platform built for the changing demands of the modern workplace.”
Triple-digit growth & new office in Amsterdam
In 2020, the company has achieved triple-digit year-over-year growth with strong traction from modern, mid-sized, multinational businesses. Moreover, Hibob has signed more than a thousand clients across the United States, Europe, and the Middle East, including fast-growing companies such as Monzo, Revolut, Cazoo, Happy Socks, Ironsource, Receipt Bank, Fiverr, Gong, VaynerMedia, and Dutch-based Wetransfer. Hibob also closely integrates with third parties such as Slack, Microsoft Teams, and Mercer.
The company has also opened a new office in Amsterdam. “Considering the magnitude of clients such as Wetransfer that we have in the Netherlands and how innovative the market is for HR Tech solutions like ours, we’re proud to announce our opening of a new office in Amsterdam,” says Zehavi.
Streamline HR processes
Founded 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 provides the department with all the technology needed to manage their workforces right from, requesting documents, setting up accounts, and much more.
In the blog, the company says, “The platform allows HR leaders to manage modern organisations in their flow of work. Bob is easy to implement and adopt by teams, managers, and employees. HR can streamline core HR processes, talent, time management, and compensation management. Most importantly bob helps HR drive social engagement, and collaboration through a robust culture feature set and various integration capabilities, all in one platform suite.”
Notably, it also enables timesheet and attendance management, payroll reporting, surveys, time-off approvals, and company directory searches. The company has its roots in Israel but operates from London and New York.
Unlike other systems, Hibob’s implementation and use are intuitive, with no requirement for hard-coding or technical knowledge. Hibob says that Bob’s UI, automated processes, and integration with leading third-party tools ease administrative tasks across the organisation.