Startup Hibob Raises $150 Million to Help Fast-Growing Businesses Modernize HR

By Adriaan Brits Wednesday, October 13, 2021

HR tech startup company Hibob announced today that it raised $150 million in a Series C business funding round led by General Atlantic. Existing investors Bessemer Venture Partners, Battery Ventures, Eight Roads, and Entrée Capital, also participated in the business funding round.

Human resources technology concept.

Triple-Digit Revenue Growth Recorded Each Year Since 2017 

The latest business funding round brings Hibob’s total funding raised to $274 million. The startup company will use the fresh business funding to continue its global expansion efforts and design new work tech modules to drive customer growth. 

HR platforms have become a critical part of the engagement and collaboration processes. These platforms are used by all members of an organization or a company, including the leadership, managers, HR teams, and individual contributors. 

Today, business organizations rely on technology not only to facilitate their HR processes but also support positive cultures for all employees as well. Hibob is one of the providers of such a solution. As a result, the startup company has recorded triple-digit revenue growth each year from 2017 to 2021. 

The startup company said it has welcomed more than 200 new business customers across 134 countries from North America, EMEA, and Australia. 

"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,” added Zehavi.

Hibob also plans to leverage the raised business funding to make substantial investments in the development of tools to fulfill the organizations’ growing needs. The startup company will also work to expand “global presence to reach more companies and their dispersed teams worldwide,” noted Zehavi.

Traditional HR tech solutions have been failing to meet the unique needs of rapid-growing mid-sized companies for years. The urge for modern tech solutions to address these issues is now bigger than ever as a result of the COVID-19 pandemic. The startup company is offering companies one of the most sophisticated HR tech solutions available today. 

General Atlantic’s Managing Director and Global Head of Technology Investing, Anton Levy, believes the startup company has developed a platform that meets and anticipates the growing requirements of modern companies and business organizations. In addition to the funding, Levy will also be joining Hibob’s board of directors. 

Today, more than 1,500 modern mid-sized companies and organizations use Hibob’s HR platform to drive their administrative success. Some of those companies include Cazoo, Gong, Hopin, Monzo, Happy Socks, Fiverr, and VaynerMedia. 

The startup company currently has offices in London, New York, San Francisco, Tel Aviv, Sydney, and Amsterdam. Hibob also plans to expand into Germany and Spain in the near future. 

Summary

Hibob, a tech startup that develops a sophisticated HR and people management platform, said that it secured $150 million in a Series C business funding round led by General Atlantic. Since its founding in 2015, Hibob has raised a total of $274 million in funding.

About the Author


Headshot of Adriaan Brits

An analyst of global affairs, Adriaan has an MSC from Oxford, with diverse interests in the digital economy, entertainment, and business. He is a specialist trainer in advanced analytics and media.

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