I’m beyond thrilled to announce Hibob’s latest round of funding to support our next phase of hyper-growth, accelerate our US presence, expand to more countries across Europe and hire more tech talent. Hibob received $20 million in Series A+ funding from our existing investors: Bessemer Venture Partners, Battery Ventures, Fidelity Ventures, Eight Roads, Arbor Ventures, and Presidio Ventures. This investment is an extension of our company’s Series A, announced in April of 2017.
Hibob was founded in late 2015 with a mission to create the first HR platform built for the workplace of the future. This revolution required a deep understanding of today’s most valuable employees: those who seek daily engagement, feedback, and meaning; they work in tribes and seek opportunities for growth. They demand personalization with a soul. In parallel, HR needs to be data-driven and democratized, creating consumer-friendly new tools for attracting, retaining and growing valuable employees – and making them available more broadly across the organization.
We created our platform bob for that bright, shiny – and sometimes scary – new world of work. The rapid emergence of the workplace of the future is led by a new generation of digital natives that will dominate the workforce global economy in the coming years. This generation wants to work for fast-growing companies doing meaningful things, disrupting the norm, challenging authority and through that, challenging their people to grow and develop in a nurturing culture.
When we looked around, we realized that no HR tools in the market were created with this generation and these attributes front and center. Today’s workforce is made up of people that want to grow as individuals and thrive in teams, as part of a larger nurturing culture. We enable individuals to use our platform to connect around shared interests and passions because we recognize that people are more than their job descriptions or payroll record. Hibob is flipping traditional employee, manager, and HR roles on their head with a platform built for everyone.
We’re already helping hundreds of businesses globally including Monzo, Etoro, Happy Socks, Fiverr, Receipt Bank and Karmarama. We owe much of our success to our loyal customers and our valuable partners and integrations including Slack, Workable, GreenHouse, TeamTailor, Perkbox, Aviva, Canada Life, and UNUM.
We know that it’s a crowded market out there. The HR tech industry is growing fast and is expected to reach $22.5bn by 2022. The proliferation of this technology is not just down to a need for employees and HR teams to better navigate admin tasks like payroll processes, performance reviews and holiday requests. Rather, organizations are realizing that their people are more than just numbers, resource or talent – management decisions that affect them should be holistic, data-driven and personalized to drive real business results.
“There are about 1,400 HR tech vendors in the market,” said Josh Bersin, one of the global HR thought leaders. According to him “One of the more innovative new core HCM platforms is a product called bob, from a fast-growing company called Hibob. bob is designed as a management platform first and HR platform second, so its entire design is focused on what information managers, employees, and executives need.”
Modern business growth and success relies on people, so it makes sense that companies are more willing to invest in HR technology and innovation than ever before. As a fast-growing company ourselves, we keenly understand the needs of mid-sized high growth companies and the specific challenges they face when attracting and retaining the best talent. This additional funding fuels our momentum to keep building the HR solution needed for the workplace of the future.
Join the HRevolution with us!