HR platform provider Hibob has announced its latest Series C round of funding.
The company’s bob platform allows HR and managers to connect and engage with employees in order to better develop and retain talent. The platform is also designed to facilitate positive cultures for people working remotely or in a hybrid working pattern. Its customers include the likes of Cazoo, Gong, Hopin, Monzo, Happy Socks, Fiverr, and VaynerMedia.
The company’s latest $150mn Series C round was led by General Atlantic, alongside Bessemer Venture Partners, Battery Ventures, Eight Roads, Entrée Capital, and others. It brings total funds raised since its 2015 foundation to $274mn. Hibob said it would use the funds to expand globally and further develop its platform.
"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," said Ronni Zehavi, co-founder and CEO of Hibob. "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 organisations' 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."
Earlier this year, the company released a study into the reasoning behind the “Great Resignation” phenomenon, finding that 55% of employees at mid-sized companies cited the search for a better work/life balance as being behind their reasons for leaving.
