Hibob raises $20m to modernise HR

Eight Roads portfolio company, Hibob, has raised $20 million in Series A+ funding. The Eight Roads European Ventures team invested alongside Arbor Ventures, Bessemer Venture Partners, Battery Ventures and Presidio Ventures.

Since its founding in late 2015, Hibob has achieved 460 percent year-over-year growth and now boasts hundreds of customers, including Monzo, Etoro, Happy Socks, Ironsource, Receipt Bank, Fiverr and Karmarama, as well as strategic platform integrations with Slack, Workable, GreenHouse, Aviva, Canada Life, UNAM. Following a seed round of $7.5 million and a series A of $17.5 million, the total investment in Hibob now sits at $45 million in just three years. Hibob was founded with a mission to create the first HR platform built for the workplace of the future. The market has embraced Hibob, as HR leaders in fast-growing companies recognize that their legacy tools are stuck in the past, unable to deliver on both the engagement needs of the multi-generational workforce and the data-driven needs of progressive HR professionals.

“There is a paradigm shift in the way people work, and HR is shifting from a system of records and resources to a way to manage relationships and productivity. Companies need the right tools to develop and maintain top talent as they grow from hundreds of employees to thousands,” said Ronni Zehavi, Co-founder and CEO of Hibob. “We are pleased that our investors understand the great need in this market and know that we are poised to deliver the most innovative and intuitive product that will allow businesses to flourish in the rapidly evolving world of work.” 

Davor, Head of our Europe Ventures team, said: “Hibob is the perfect partner for companies that strive to put their people first, but lack the right tools to attract, engage, and retain them. Hibob can support the evolution of high-growth companies with its easy-to-use, next-generation tool, allowing teams to maintain all-important company culture as they expand into new locations and increase headcount. We feel privileged to have been a part of Hibob’s success story so far and we look forward to continuing our partnership; leveraging the Eight Roads global network to help them scale.”