HR technology is becoming an essential investment in a world of remote and hybrid working.
One company that has seen its value increase during this period is Hibob. The company has now managed to raise $150 million in its Series C funding round. This achievement comes shortly after Hibob became the latest unicorn.
The investment was led by General Atlantic, and also had support from existing investors. This includes Bessemer Venture Partners, Battery Ventures, Eight Roads, Perpetual Investors, Entrée Capital, and Israel Growth Partners.
On the back of the round, Hibob has achieved a total of $274 million in capital raised since 2015.
Moreover, the company now has over 1,500 customers and 300 employees in offices in London, New York, San Francisco, Tel Aviv, Sydney, and Amsterdam.
In a statement, CEO and co-founder of Hibob, Ronni Zehavi acknowledged some of the factors that have made it a success: “Hibob was a mature product before the world’s big shift into remote and hybrid work.
“As a result, our Go-to-Market strategy was ready very early on in our journey. This readiness was vital to accelerating our growth and widespread adoption by global companies. It has earned us more funding and the ability to develop bob into an even greater product.”
Speaking about the investment itself Zehavi said: “As an HR tech platform, we’re dedicated to keeping our culture people-focused and best serving your [customers] needs.
“We love hearing feedback from our customers and implementing it in the product. It’s why I’ve made speaking with customers a top priority and just completed 30 meetings with 30 customers in 30 days.
“As Hibob enters this new phase in our growth, we’ll continue to invest in you and provide the functionality and support you need as you grow your business.”
In terms of what the new funding will go towards, Hibob outlines a series of plans. These include putting their customers first as they expand globally. Additionally, there is a plan to invest in the current line of products that Hibob offers and cultivate positive cultures for employees.
Finally, Hibob wants to strategic acquisitions to complement our product offering
Zehavi also noted: “The future of work is being redefined as we speak. It’s remote, hybrid, diverse, and flexible. Our vision is that the bob platform will be the last HR tech suite mid-sized companies will ever need to purchase.
“We will continue listening to our customers to give them exactly what they need to propel their businesses forward.”
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