HR platform Hibob has closed a $17.5m Series A financing round led by Battery Ventures and with the participation of Eight Road Ventures, Arbor Ventures and Bessemer Ventures, who led last year's $7.5 million seed round. The company, with offices in Tel Aviv and London, has raised $25 million to date.
The company will use the proceeds to scale up, build additional partnerships, address regulatory requirements and expand worldwide in 2017.
Hibob cofounder and CEO Ronni Zehavi said, “Our vision is to transform the way businesses engage with their employees and empower HR to be at the forefront of this fundamental change.”
He added, “We see mobile and social media, the growing millennial workforce and cloud technologies as major forces for this long-needed innovation. We are honored to have raised additional investment from VCs who were part of our seed round and welcome new visionaries on our journey to reshape the way businesses understand and interact with their employees."
The company, which was founded by Zehavi, CPO Amit Knaani, CTO Israel David and CSO Andy Bellass, currently employs 50 people including 30 in Israel and has hundreds of companies using its platform in the UK. Hibob plans hiring 30 more people this year.
Battery Ventures general partner Scott Tobin said, "HR is evolving from a compliance-only function to a strategic business role. It needs to be able to consolidate and simplify its administrative responsibilities so that it can be freed up to convert the energy and passion that young people arrive with into long-term engagement. We believe Hibob’s highly experienced team has an intrinsic understanding of how to address these core issues that businesses must solve."
Published by Globes [online], Israel business news - www.globes-online.com - on April 25, 2017
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