Hibob raises $150 million
Modern HR tech platform Hibob has closed a $150 million Series C round. The round, which gives the company a $1.65 billion valuation, was led by General Atlantic with participation from Bessemer Venture Partners, Battery Ventures, Eight Roads, Perpetual Investors, Entrée Capital, and Israel Growth Partners.
Founded in 2015, Hibob’s global HR platform is used by over 1,500 customers in 134 companies. Its clients include fast-growing companies such as Monzo, Revolut, Cazoo, Happy Socks, ironSource, Receipt Bank, Fiverr, Gong, and VaynerMedia.
In 2017, Hibob introduced its benefits platform and several benefits partners including Aviva, Smart Pension, and Canada Life.
“We are targeting a massive market that is worth tens of billions of dollars, and Hibob is just beginning its mission to penetrate this opportunity. Our vision is that the ‘bob’ platform will be the last HRIS suite that mid-sized companies will ever need to purchase, and as we continue to listen to our customers, we aim to grow our solutions with them and help propel their businesses forward. With this recent funding, Hibob’s plan is to invest significantly in building tools to fit organizations’ evolving needs and acquire great technologies to complement our offerings, while also expanding our global presence to reach more companies and their dispersed teams worldwide.” – Ronni Zehavi, co-founder and CEO of Hibob.
“Hibob has created a solution that serves and anticipates the needs of modern, evolving businesses. We have tracked the company for years, and positive customer feedback further validates that Hibob’s platform has become a mission-critical component of HR tech stacks. Hibob will mark our sixth investment in an Israel-based company in under two years, signifying our strong conviction in the country’s market. We look forward to supporting the business’ global growth as it redefines employee engagement and HR technology.” – Anton Levy, co-president, managing director and global head of technology investing at General Atlantic.