Human resource software startup Hibob announced it has raised $70 million in fresh funding, capping off its fourth consecutive year of triple-digit growth. To keep up the momentum, the Series B will be used to expand the company globally and grow its team, with several open tech positions available at its NYC headquarters and offices in London and Tel Aviv.
Hibob’s co-founder and CEO Ronni Zehavi says that, although the HR tech market has been around for decades, it hasn’t managed to keep up with the evolving business environment. These days, remote work is king, which makes things like social engagement, collaboration, transparency and an identifiable company culture more important than ever to employees.
“I’ve spent my career managing people in different kinds of organizations and came to the realization that the vast majority of HR tech tools I used were not designed for the way people work today — globally, remotely, and collaboratively,” Zahavi said in a statement. “We founded Hibob to create a modern HR platform built for the changing demands of the modern workplace.”
The company has done this by building an intuitive, data-driven platform that aims to bring all the aspects of a well-rounded company to one place. People teams can unite tens, hundreds or even thousands of employees through the site’s communication management, onboarding, attendance and performance tools. Plus, Hibob integrates with other third-party software like Slack and Microsoft Teams.
Unlike most other HR tech tools, Hibob focuses mainly on mid-sized businesses. It has managed to gain more than 1,000 customers, including Fiverr, DraftKings and Gong since its launch in 2015. These companies are located across the United States, Europe and the Middle East, and Hibob hopes to expand even more in light of this recent funding.
The round was led by investors SEEK and Israel Growth Partners and brings Hibob’s total funding raised to $124 million.
