HiBob closes $150 million Series D

Companies are grappling with a lot of workplace challenges at the moment.

Despite a looming recession, the ‘Great Resignation’ is not letting up, and employers are grappling with how to retain workers, as well as replace those who are leaving.

This is where tech can help; not only can hiring tech help companies drive a seamless candidate experience, but tools like Human Resources Information Systems (HRIS) can also make onboarding and other elements of talent management (including booking holiday, getting paid and doing performance reviews) quicker and easier for both employees and HR teams.

In the current retention crisis, it is no surprise that Israel-based HRIS HiBob has successfully raised $150 million in a Series D. This comes just 10 months after a $150 million Series C, and brings the company’s total funding since it was founded in 2015 to $424 million.

HiBob became a unicorn following the Series C in October 2021 and the company is now worth $2.45 billion. Also, since the Series C, HiBob’s employee base has doubled in size with 370 new hires since the fourth quarter of 2021, and it has opened new offices in London and New York.

Talking about the Series D investment, HiBob’s CEO and co-founder Ronni Zehavi commented: “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 organizations will want to have the right infrastructure in place before then.”

A bright future for HiBob?

The latest influx of funding, which came from General Atlantic and Bessemer Venture Partners, will help HiBob continue to strengthen its position in the HRIS space.

Currently, HiBob is available in 13 languages and 166 countries worldwide. It supports 2,500 brands, including VaynerMedia, Fiverr, Monzo, and Checkout.com, with their talent management needs.

Zehavi wrote in a blog post: “We will use this additional capital to drive global expansion and innovation around the Bob offering. We will continue listening to our customers who trust us to deliver the digital tools for their business success.”

Talking about the investment, Anton Levy, General Atlantic’s co-president, managing director and global head of tech investing, said: “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.” General Atlantic had also invested in HiBob’s Series C round.

Bessemer Venture Partners’ partner Adam Fisher added: “HiBob’s ability to grow alongside its largest customers and move with them into new geographies is a remarkable sign of execution.

“We are proud to continue our support for the company with another significant investment from our fund.” Like General Atlantic, Bessemer Venture Partners had also participated in the October 2021 Series C.

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