$20m Series A funding in the bag for London/Tel Aviv tech platform
Today (March 13), London and Tel Aviv-based HR tech platform Hibob has announced $20m in Series A funding.
This latest round is led by existing investors Bessemer Venture Partners, Battery Ventures, Eight Roads, Arbor Ventures, and Presidio Ventures.
This latest investment will support the company’s next phase of hyper growth, helping to establish Hibob as the platform of choice for mid-size fast-growing companies, accelerating its US presence, expanding to more countries across Europe and hiring more tech talent people into the organisation.
Following a seed round of $7.5m and a series A of $17.5m, the total investment in Hibob now sits at $45m.
Ronni Zehavi, CEO and co-founder of HiBob, said: “Modern business growth and success relies on people, so it makes sense that companies are more willing to invest in HR technology and innovation than ever before.
“As a fast-growing company ourselves, we understand the needs of mid-sized high growth companies and the specific challenges they face when attracting and retaining the best talent.
“This latest funding from VCs who were part of our previous rounds will support our much-anticipated expansion into the US market and across Europe, enabling us to continue to fuel hyper-growth and in turn to help the companies that are changing the world attract, engage and retain their people.”
Founded in late 2015, Hibob was built with the understanding that the world of work is changing and, as a result, the requirements of HR - and the technology that supports the function - need to change too.
The platform gives companies the HR functionalities they need to attract, retain and grow today’s diverse and demanding workforce - an organisation’s most valuable asset.
Current customers include Monzo, Etoro, Happy Socks, Ironsource, Fiverr, Receipt Bank and Karmarama.
Davor Hebel, managing partner and head of Eight Roads Ventures Europe, added: “Hibob is the perfect partner for companies that strive to put their people first, but lack the right tools to attract, engage, and retain them.
“Hibob can support the evolution of high-growth companies with its easy-to-use, next-generation tool, allowing teams to maintain all-important company culture as they expand into new locations and increase headcount.
“We feel privileged to have been a part of Hibob’s success story so far and we look forward to continuing our partnership; leveraging the Eight Roads global network to help them scale.”
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