Human resources company Hibob lands $17.5m Series A
London-based HR firm will invest in more partnerships and ongoing international expansion
Hibob, a London-based human resources (HR) platform, has closed $17.5m in Series A funding from US venture capital (VC) firm Battery Ventures, alongside Eight Road Ventures, Arbor Ventures and Bessemer Ventures.
Founded in 2015, Hibob is a people management system offering mobile features to help businesses deal with on and off-boarding, time off, time log, performance management and company engagement, as well as benefits such as life insurance, pension, cash plans and travel.
The company employs 50 people across the UK and Israel and says “hundreds” of customers use its platform.
The funding, which takes investment in the company to $25m, will be used to secure more partnerships, address regulatory requirements and to fuel global expansion throughout the year.
Ronni Zehavi, co-founder and CEO of Hibob, commented: “Our vision is to transform the way businesses engage with their employees and empower HR to be at the forefront of this fundamental change.”
“We see mobile and social media, the growing millennial workforce and cloud technologies as major forces for this long-needed innovation. We are honoured to have raised additional investment from VCs who were part of our seed round and welcome new visionaries on our journey to reshape the way businesses understand and interact with their employees.”
Scott Tobin, general partner at Battery Ventures, said: “HR needs to be able to consolidate and simplify its administrative responsibilities so that it can be freed up to convert the energy and passion that young people arrive with into long-term engagement.
“We believe hibob’s highly experienced team has an intrinsic understanding of how to address these core issues that businesses must solve.”