With the most recent funding round, the worldwide HRIS platform’s valuation has increased to $2.45 billion and its overall funding since launch has reached $424 million.
Just ten months after securing a $150 million Series C round of fundraising in October 2021, HiBob, the business that created Bob the HR platform, revealed today that it has raised another $150 million in expansion funding.
HiBob’s Series D round, which was led by General Atlantic, a renowned global growth equity firm, and included Bessemer Venture Partners and other insiders, raises the company’s valuation to $2.45 billion and brings its total funding to $424 million since its founding.
According to a statement from the company, this most recent expansion investment will help HiBob capitalize on its market leadership as it continues to carry out important business initiatives in the present market situation.
Midsize company business leaders are aware of the crucial role that an adaptable HR technology platform can play in leading their staff. To enhance the employee experience and assist clients in keeping top talent, Bob offers modules that go beyond standard HR, such as talent management, workforce planning, and compensation management.
As the company seeks to meet important market needs with innovative, flexible technology, we are happy to continue working with leadership and the HiBob team, said Anton Levy, co-president, managing director, and global head of technology investing at General Atlantic.
Even in the face of growing market uncertainties, according to Ronni Zehavi, CEO and co-founder of HiBob, there is still a fierce rivalry for talent.
Modern companies that appreciate their employees understand that HRIS is about proactive and effective people management during expansion and recession, not only about the increasing staff. Many businesses will likely start hiring again in the coming quarters, so shrewd organizations will want to put the necessary infrastructure in place beforehand, he said.
“Our clients are globally recognized, cutting-edge corporations. If I were to describe their superpower in one word, it would be “flexibility” because they are aware of the changing nature of the workplace. Internal mobility, career advancement, and a respectable work-from-home alternative are all included in this. The development of their most valuable resource, talent, is something that our customers also want to enable their managers to do across the entire organization, Zehavi continued.
HiBob has more than 370 new personnel since Q4 2021, more than doubling its size to support its expansion and expanding customer base. To better serve the DACH region, HiBob also opened an office in Berlin and extended its New York and London operations. HiBob is one of the only platforms for contemporary multinationals employing hundreds of employees, with users in 166 countries and support for 13 different languages. The company intends to open more regional offices in the following 24 months with the help of this Series D financing, according to the statement.