Total amount raised
$574 Millions
Latest funding date
9/1/2023
Location
HiBob has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive HR system designed to enhance productivity, engagement, and retention within modern businesses.
Keep reading to explore the intricacies of HiBob's fundraising journey and the investors backing this innovative platform.
What Is HiBob?
HiBob, founded in 2015, is an innovative HR platform designed to manage time, talent, performance, and culture within organizations. The company was established by Ronni Zehavi and Israel David, with its headquarters in Tel Aviv.
HiBob's platform offers a comprehensive suite of features, including core HR, onboarding, time and attendance, compensation management, payroll, hiring, learning management, performance management, and people analytics. The platform is user-friendly and customizable, catering to the needs of HR professionals and employees alike.
With a global presence, HiBob has offices in New York, London, Amsterdam, Sydney, Berlin, and Lisbon. The company employs over 500 people, supporting modern, fast-growing businesses worldwide.
How Much Funding Has HiBob Raised?
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: November 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart the development of HiBob's HR platform.
- Seed Round
- Amount Raised: $7.5M
- Date: June 2016
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of the HiBob platform.
- Series A
- Amount Raised: $17.5M
- Date: April 2017
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's features and scale operations.
- Series A
- Amount Raised: $20M
- Date: March 2019
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and support customer acquisition.
- Series A
- Amount Raised: $9M
- Date: November 2019
- Lead Investors: Perpetual Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling the platform and expanding market reach.
- Series B
- Amount Raised: $70M
- Date: December 2020
- Lead Investors: Israel Growth Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Series C
- Amount Raised: $150M
- Date: October 2021
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand globally and invest in new product development.
- Series D
- Amount Raised: $150M
- Date: August 2022
- Lead Investors: General Atlantic
- Valuation at Round: $2.45 billion
- Motivation Behind the Round: To strengthen market position and support strategic growth initiatives.
- Series D
- Amount Raised: $150M
- Date: September 2023
- Lead Investors: Alpha Wave Global, Farallon Capital Management
- Valuation at Round: $2.7 billion
- Motivation Behind the Round: To enhance customer value, expand geographically, and grow the partner ecosystem.
HiBob has raised a total of $574M with a current valuation of $2.7 billion.
Key Investors
- Farallon Capital
- Details: Farallon Capital is a leading global asset management firm with approximately $50 billion in assets under management. It is known for its diversified investment strategies across various asset classes.
- Investment Focus Areas: Public and private equity, credit, real estate.
- Notable Investments: This is Farallon Capital's first investment in an Israeli company.
- Alpha Wave Global
- Details: Alpha Wave Global is a global investment firm that focuses on long-term investments in high-growth companies. It is known for its strategic investments in technology and innovation sectors.
- Investment Focus Areas: Technology, innovation, high-growth companies.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. It has a strong track record of investing in technology and innovation.
- Investment Focus Areas: Technology, healthcare, financial services, consumer.
- Notable Investments: Airbnb, Uber, Slack.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a prominent venture capital firm that invests in early-stage companies. It has a history of backing innovative startups in various sectors.
- Investment Focus Areas: Technology, healthcare, financial services, consumer.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. It invests in companies at all stages, from seed to growth and buyout.
- Investment Focus Areas: Software, industrial technology, consumer, IT infrastructure.
- Notable Investments: Glassdoor, Nutanix, Sprinklr.
What's Next for HiBob?
HiBob's future is brimming with opportunities. The company plans to sell upmarket and increase Annual Revenue Per User (ARPU) by launching new modules, expanding into new geographical locations, and growing its ecosystem of partners. With $150 million in new funding, HiBob is well-positioned to capitalize on these opportunities and continue its impressive growth trajectory.
Future fundraising opportunities look promising, especially with the potential for an IPO when market conditions improve. However, HiBob will need to navigate challenges such as managing global expansion, adapting to rapidly changing market conditions, and maintaining a competitive edge in a crowded HR tech market. Despite these hurdles, HiBob's commitment to innovation and strategic growth sets a strong foundation for continued success.
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