HiBob, the company behind Bob the HR platform, today announced it has raised an additional $150 million in growth funding, just ten months after raising a $150 million Series C in October 2021.
Led by General Atlantic, a leading global growth equity firm, and with participation from Bessemer Venture Partners and other insiders, HiBob’s Series D round takes the company’s valuation to $2.45 billion and total funding to $424 million since inception.
This latest growth investment is intended to support HiBob in capitalising on its market leadership as the company continues to execute on key business priorities in the current market environment, the company said in a statement.
“Business leaders of midsize companies understand the mission-critical role a flexible HR technology platform can play in managing their teams. As the workforce continues to evolve, Bob provides modules that go beyond core HR – including talent management, workforce planning, and compensation management – helping to augment the employee experience and support customers in retaining top talent. We are proud to continue to partner with leadership and the HiBob team as the company works to address key market needs with innovative, flexible technology,” said Anton Levy, co-president, managing director, and global head of technology investing at General Atlantic.
Ronni Zehavi, CEO and co-founder of HiBob said the competition for talent remains intense even in the midst of increasing market uncertainty.
“Modern businesses that value their talent know that HRIS is not simply about headcount growth, but rather about effective and proactive people management during periods of expansion and contraction. We expect many companies to resume hiring in the quarters ahead, and smart organisations will want to have the right infrastructure in place before then,” he said.
“Our customers are advanced and influential businesses globally. They understand the new world of work, and if I were to summarize their super power in one word it would be “flexibility.” This encompasses internal mobility, career progression, and a responsible work-from-home option. Our customers also seek to empower their managers throughout the organisation in the development of their most valuable resource: talent,” Zehavi added.
To support its growth and expanding customer base, HiBob has doubled in size with over 370 new hires since Q4 2021. HiBob has also expanded its New York and London office locations, in addition to opening an office in Berlin, Germany to serve the DACH region.
With users in 166 countries and support for 13 different languages, HiBob is one of the only platforms for modern multinationals employing hundreds of people. With this Series D financing, the company plans to add additional regional offices in the next 24 months, the statement said.