HiBob Raises $150Million Series D Up-Round Led by General Atlantic to Capitalize on Significant Business Momentum

• Series D follows HiBob’s $150M Series C just 10 months ago

• HiBob now valued at $2.45B; Series D was led by global growth investor General Atlantic, with participation from Bessemer Venture Partners and other existing investors

• Demand for talent and modern HR systems remains robust despite the slowing economy

HiBob, the company behind Bob, the HR platform transforming how organizations operate in the modern world of work,announced it has raised an additional $150M in growth funding, just ten months after raising a $150M Series C in October 2021. The latest round is underpinned by HiBob’s sixth consecutive year of triple digit revenue growth, with continued support from investors including General Atlantic, Bessemer Venture Partners, and others.

With unemployment rates at record lows, the battle to attract and retain talent remains a top priority for modern businesses, even during an economic slowdown.  Flexible HR systems like Bob remain a mission-critical component in any modern organization, particularly during dynamic periods characterized by uncertainty and change. HiBob provides midsized and sub-enterprise businesses employing many hundreds of people with an agile HR system that allows them to refine and optimize their people operations as efficient growth becomes a dominant theme across industry sectors.

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Led by General Atlantic, a leading global growth equity firm, and with participation from Bessemer Venture Partners and other insiders, HiBob’s Series D round takes the company’s valuation to $2.45B and total funding to $424M since inception. This latest growth investment is intended to support HiBob in capitalizing on its market leadership as the company continues to execute on key business priorities in the current market environment.

Anton Levy, Co-President, Managing Director, and Global Head of Technology Investing at General Atlantic, commented: “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 leadership and the HiBob team as the company works to address key market needs with innovative, flexible technology.”

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Adam Fisher, Partner at Bessemer Venture Partners, the first investor in HiBob, commented: “HiBob’s ability to grow alongside its largest customers and move with them into new geographies is a remarkable sign of execution. We are proud to continue our support for the company with another significant investment from our fund.”

Ronni Zehavi, CEO and Co-Founder of HiBob, explained: “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 organizations will want to have the right infrastructure in place before then.”

Zehavi added: “Our customers are advanced and influential businesses globally. They understand the new world of work, and if I were to summarize their super power in one word, it would be ‘flexibility.’ This encompasses internal mobility, career progression, and a responsible work-from-home option. Our customers also seek to empower their managers throughout the organization in the development of their most valuable resource: talent. We believe customers choose Bob because it provides an amazing employee experience and  productivity gains, and the platform is able to grow with evolving business needs. ”

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