The transition to remote work undeniably had a huge impact on how businesses operate internally. Outside of adjusting to a displaced workforce and ensuring staff had the technology they needed, companies also grappled with transitioning their office cultures to an online environment.
As remote work increasingly becomes a norm, HR teams have to be able to adapt their workforce to meet the changing dynamics. New York-based HiBob says it has the technology to do just that.
This week, HiBob raked in $150 million in a Series D funding round. The raise, led by General Atlantic, takes the company’s valuation to $2.45 billion.
On the HiBob platform, called Bob, HR teams at small to medium-sized companies can do things like accelerate their hiring practices, monitor team performance and enable workforce communication.
Built In last caught up with HiBob 10 months ago after the tech-fueled HR management platform raised its $150 million Series C raise. The plan then was to fuel global expansion. Since the Series C, the company has reportedly doubled in size by adding more than 370 new hires to its global offices since Q4 of 2021.
With its new capital, HiBob expects to “capitalize on significant business momentum” and help companies bring on talent during a slowing labor market, according to a company statement.
“The competition for talent remains intense even in the midst of increasing market uncertainty,” Ronni Zehavi, CEO and co-founder of HiBob, said in a statement. “Modern businesses that value their talent know that HRIS [human resource information systems] are 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.”
In addition to its recent raise, HiBob is continuing its hiring efforts. The company has nearly 70 open positions ranging from engineering to sales and finance roles.
