- Series D follows HiBob’s $150M Series C just 10 months ago
- HiBob now valued at $2.45B; Series D was led by global growth investor General Atlantic, with participation from Bessemer Venture Partners and other existing investors
- Demand for talent and modern HR systems remains robust despite the slowing economy
New York, NY & Tel Aviv, Israel – August 17, 2022: HiBob, the company behind Bob, the HR platform transforming how organizations operate in the modern world of work, today announced it has raised an additional $150M in growth funding, just ten months after raising a $150M Series C in October 2021. The latest round is underpinned by HiBob’s sixth consecutive year of triple digit revenue growth, with continued support from investors including General Atlantic, Bessemer Venture Partners, and others.
With unemployment rates at record lows, the battle to attract and retain talent remains a top priority for modern businesses, even during an economic slowdown. Flexible HR systems like Bob remain a mission-critical component in any modern organization, particularly during dynamic periods characterized by uncertainty and change. HiBob provides midsized and sub-enterprise businesses employing many hundreds of people with an agile HR system that allows them to refine and optimize their people operations as efficient growth becomes a dominant theme across industry sectors.
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 $2.45B and total funding to $424M since inception. This latest growth investment is intended to support HiBob in capitalizing on its market leadership as the company continues to execute on key business priorities in the current market environment.
Anton Levy, Co-President, Managing Director, and Global Head of Technology Investing at General Atlantic, commented: “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.”
Adam Fisher, Partner at Bessemer Venture Partners, the first investor in HiBob, commented: “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.”
Talent is Still Scarce
Ronni Zehavi, CEO and Co-Founder of HiBob, explained: “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.”
Zehavi added: “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 organization in the development of their most valuable resource: talent. We believe customers choose Bob because it provides an amazing employee experience and productivity gains, and the platform is able to grow with evolving business needs. “
Unprecedented Growth at HiBob
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.
Led by Ronni Zehavi, CEO and Co-Founder, and Israel David, CTO and Co-Founder, HiBob offers a unique HR platform for companies that number in the many hundreds to the few thousands of employees worldwide. With customers that span the globe, HiBob’s platform Bob serves both global as well as national organizations. The HR management platform offers a multi-site approach to implementation from the start, and uniquely comes with built-in local languages, currencies, culture adaptation, automation processes, and regulatory set-ups.
HiBob is on a mission to transform how organizations operate in the modern world of work with its HR platform ‘Bob’. Leading the way for the future workplace, Bob offers resilient, agile technology that wraps all the complexities of HR processes into a game changing, user-friendly tool that touches every employee across the business.
Since 2015, trusted and empowered ‘Bobbers’ from around the world have brought their authentic selves to work, inspired to build the exceptional HR systems that will revolutionize the work experience for HR professionals, managers, and employees. Agile and adaptable, HiBob innovates through continuous learning loops to produce seismic cultural shifts for companies with dynamic, distributed workforces.
HiBob is used by more than 2,500 multinational companies – including Cazoo, Gong, Hopin, Monzo, Happy Socks, Fiverr, and VaynerMedia. Organizations using Bob are able to accelerate hiring, retain the best talent, up skill and elevate employee engagement. For more information about HiBob, visit www.hibob.com.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $73 billion in assets under management inclusive of all products as of as of June 30, 2022, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit the website: www.generalatlantic.com.