Hibob Closes $70M Series B Funding Round to Significantly Expand Market Footprint In HR Technology
Hibob, the HR technology innovator behind the people management platform bob, today announces $70 million in Series B funding led by investors SEEK and Israel Growth Partners (IGP). Promoting the progress of Hibob’s mission to simplify people management, culture building, and employee engagement for remote and dispersed workforces, the investment will allow Hibob to drive wider global expansion while contributing to further Hibob product development.
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Hibob has raised a total of $124 million to date since its launch in late 2015. 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.
With triple-digit year-over-year growth in 2020, Hibob is quickly becoming a market leader, gaining strong traction with modern, mid-sized, multinational businesses. Since the company launched, 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, and VaynerMedia. bob also closely integrates with third parties such as Slack, Microsoft Teams, and Mercer.
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The HR technology market has been around for decades, however, managers, employees, and HR teams alike increasingly understand its importance when it comes to operating a successful organization in today’s employee-centric business environment. “As we were developing the concept behind our HR platform, we looked at the world of work and recognized that it was changing. I’ve spent my career managing people in different kinds of organizations and came to the realization 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.”
“2020 was the year that pushed the practice of HR into the spotlight. HR leaders have been challenged to support their businesses and their people in new and different ways – to drive communication, engagement, and development despite the obvious hurdles,” said Claude Silver, Chief Heart Officer with VaynerMedia. “At VaynerMedia, I knew that my ability to help our 1,000 employees grow through this tough year would only be possible with the right tools and structure in place. bob has enabled us to keep our people informed, engaged, and productive but perhaps most importantly, to nurture the unique culture and vibe that makes VaynerMedia such an exceptional place to work.”
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