Educators are turning to technology to better manage their classrooms and keep up to date with ever-evolving educational trends. HiBob, an Israeli HRTech company, is providing them with the tools to do just that.
Recently, HiBob has secured $150 million in new funding from a round led by Farallon Capital, with participation from Alpha Wave Global and existing investors. The company plans to use the new funds to provide additional value to its customers, expand into new markets, increase the number of partners with whom it collaborates, and invest more in product creation and development.
The HR platform, Bob, allows HR managers and employees to work together to adjust employment processes and keep up to date with changes to how, where, and when they work. Its modular approach caters to multinational companies, allowing them to create agile technology and robust analytics to support operations across distributed workforces.
The startup, which currently has 800 employees (half of which are in Israel), serves 3,500 customers across the globe, with offices in various international locations. Organizations use HiBob’s Bob platform to accelerate hiring, retain talent, and elevate employee engagement.
Ronni Zehavi, CEO and co-founder of HiBob, said: “Our partnership with Farallon Capital and Alpha Wave Global is a testament to our continued leadership in the HCM software category. Modern HR leaders support teams across the business and the globe, delivering agile, data-driven people solutions to today’s most demanding business challenges. HiBob enables these teams with powerful HCM capabilities, helping our customers drive engagement and keep their people at the centre of every strategic initiative. In a challenging economic climate, this new funding reflects the strength of our strategy, business, and ability to deliver results. We value the trust that Farallon Capital and our existing shareholders have placed in us.”
Ido Krakowsky, Investment Director of Farallon Capital, added: “The role of technology in human capital management is constantly rising, and HiBob has consistently proven its product excellence as a mission-critical, full-service solution serving a diverse global customer base. In a dynamic environment, HiBob enables HR leaders to serve an increasingly strategic function and adapt nimbly to evolving HR priorities. HiBob has established itself as the go-to option for organizations looking to streamline HR processes while emphasizing talent retention, employee engagement, and data-driven decision-making. We look forward to working with Ronni and the team as HiBob enters this next growth stage.”
This is the company’s third investment round in two years, following a Series D round in August 2022 and a Series C round in October 2021. It has so far raised a total of $574 million.
Tech-savvy teachers are beginning to rely on HR technologies to manage their classrooms and keep up with educational trends. HiBob has been providing HR teams with the tools to do just that, and its recent investment of $150 million will go a long way to helping them continue to do so. With offices in various international locations and 3,500 customers across the globe, HiBob is proving to be a powerful resource for educators and HR teams alike.
