HR platform Hibob collects $70m in its Series B round

HR platform Hibob secures $70m in its Series B funding round, which was led by SEEL and Israel Growth Partners.

The round was supported by existing Hibob backers Bessemer Venture Partners, Battery Ventures, Eight Roads Ventures, Arbor Ventures, Presidio Ventures, Entrée Capital, Cerca Partners and Perpetual Investors.

With the capital, the company will further its global expansion and its product development.

Hibob offers a HR platform that helps dynamic teams of in-office and remote workers. Its tools include payroll, onboarding, time and attendance, compensation, and more.

The FinTech witnessed a triple-digit year-over-year growth in 2020.

With the close of the round, the company has raised a total of $124m in funding since it launched in 2015.

SEEK CEO and co-founder Andrew Bassat said, “Our investment philosophy includes investing in emerging HR SaaS leaders with platforms that deliver superior solutions, provide better value, and allow for an improved employee experience for scaling businesses.

“Hibob has been on our radar because of its strong value proposition and impressive business growth. Hibob has a great team led by an impressive and experienced founder, and has delivered an outstanding product to the market. We are pleased to join the board and be partnering with Hibob in their next phase of growth.”

Payroll solution developer Immedis reached a $575m valuation after the close of a $50m investment round. The company processes payroll in more than 150 countries, and the capital hopes to expand its international expansion.

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