News: HR tech firm HiBob raises $150M in new round of funding

Funding & Investment

HR tech firm HiBob raises $150M in new round of funding

With 3,500 customers, the HCM provider aims to use the funds for new market expansion and upscaling to increase annual ARPU.
HR tech firm HiBob raises $150M in new round of funding

HiBob has raised $150 million in funding, with key investment participation from Farallon Capital, Alpha Wave Global, and existing investors.

The new funding brings HiBob’s total capital raised to $574M.

The HR tech startup raised $150 million in Series D in August 2022 following a fund raise of  similar amount in October 2021.

The focus is on continuing to provide their innovative HCM platform to a broader range of modern, mid-sized, and multinational organisations worldwide, with additional product development to support their growing customer base, the company said in a statement.

The company's strategic approach encompasses three core areas. Firstly, HiBob will concentrate on upscaling their services and increasing Annual Revenue Per User (ARPU) by introducing new modules that offer comprehensive HR support throughout the employee journey.

HiBob plans to expand into new geographic locations, aiming to bring their unique approach to HR leaders around the world. Simultaneously, they will make significant investments in their current operational regions, aiming to enhance customer support, regardless of location.

As part of their investment strategy, HiBob plans to expand their ecosystem of partners. This includes technology and HR consulting partners, providing customers with flexibility in the implementation and integration of Bob, as stated in company statement.

"We look forward to working with Ronni and the team as HiBob enters this next stage of growth," said Ido Krakowsky, Investment Director at Farallon Capital.

"In a challenging economic climate, this new funding reflects the strength of our strategy, our business, and our ability to deliver results," said Ronni Zehavi, CEO and Co-Founder at HiBob.

From technology partnerships to HR consultant collaborations, the company aims to provide its customers with greater flexibility in how they choose to implement and integrate Bob.

The HCM provider has over 3,500 customers including Monzon and McLaren.

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Topics: Funding & Investment, HCM/HRMS/HRIS

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