Israeli startup Hibob announced a $70 million Series C. The investment was led by SEEK and Israel Growth Partners, with participation from Bessemer Venture Partners, Battery Ventures, Eight Roads Ventures, Arbor Ventures, Cerca Partners, Entrée Capital, Presidio Ventures, and Perpetual Partners. According to TechCrunch’s report, the round was raised based on a half a billion dollar valuation.
The employee managing platform
Hibob’s SaaS platform aims to provide small and medium businesses with a management system for their human capital throughout their time with the company. From the onboarding process, including contracts, paid vacation days, to stock options, and even covering the entire offboarding process. Instead of managing tedious Excel sheets of the old days, Hibob deploys an easy to use system that looks like what you’d expect of a modern day HR tool.
The company’s HR platform goes by the name Bob (which led to the Hi, Bob name). Hibob notes that currently competing HR systems develop a “one fits all” solution that doesn’t quite fit the size of the customer’s company or what they’re about, therefore leading Hibob to highlight the design and comfort of using their system, which on one hand enables HR management clear employee visibility, and on the other hand invites workers to utilize the platform for various day-to-day needs.
Hibob was founded Ronni Zehavi, former CEO of Cotendo, a content delivery network which was acquired by Akamai for $300m, and CTO Israel David. The company was founded in Israel, but calls London and New York home nowadays. The company has raised $124 million to date.