Hibob gets $70 million in funding

Hibob, an Israel-based startup, that helped create the HR platform ‘bob’ (‘Hi! Bob’) has managed to raise $70 million in funds at a valuation which is around $500 million. The startup, cofounded by Ronni Zehavi, CEO, Hibob, and Israel David, created the HR platform to revolutionise and make HR technology more user-friendly.

The Company is known for its people management platform that has been able to keep pace with technological advancements of the dynamic workplace of today. Companies have been able to function and operate better with the help of ‘bob’, which believes in engaging.

With the pandemic-induced transformations at the workplace, productivity software are being relooked at everywhere, as the focus has shifted to employee interaction and egagement.

The Series B funding for Hibob is being led by SEEK and Israel Growth Partners. Bessemer Venture Partners, Battery Ventures, Eight Roads Ventures, Arbor Ventures, Presidio Ventures, Entree Capital, Cerca Partners, and Perpetual Partners were also among the participants in the Series A round last year. The Company has managed to gather about $124 million till date.

Specialising in mid-market consumers, Hibob has about 1,000 customers across the US, Asia and Europe including the likes of Fiverr, Monzo, Revolut, VaynerMedia, Gong, ironSource, Receipt Bank and Happy Socks.

The platform handles the management of payroll, compensation and benefits, onboarding, as well as leaves. It allows colleagues, managers and employees at all levels to provide direct feedback to, which ensures that they remain engaged.

Addition of learning and development modules to the platform is also on the cards. The simplified HR platform allows companies to remain updated and aware of all aspects of work. Most importantly, in these times of uncertainty and disruptiions, it facilitates engagement and establishes connections.