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Hibob, the startup behind the HR platform that goes by the name of “bob” has raised 70 million in funding at a valuation close to $500 million. The Series B is being led by Israel Growth Partners and SEEK, with participation also from Battery Ventures, Arbor Ventures, Bessemer Venture Partners, Eight Roads Ventures, Entree Capital, Perpetual Partners, and Cerca Partners.
In an interview, Zehavi said that Hibob specializes in mid-market customers and says that it has more than 1,000 of them currently on its books across the U.S., Europe, and Asia, including Revolut, ironSource, Happy Socks, Fiverr, Gong, and VaynerMedia.
While the HR functions cover all of the necessary HR bases like payroll and further compensation, onboarding, managing time off and benefits, it further brings in a variety of other features that help build out bigger profiles of users, such as performance and culture, with the ability for peers, managers, and workers themselves to provide feedback to enhance their own engagement with the company, and for the company to have a better idea of how they are fitting into the organization, and what might need more attention in the future.
The end result is a platform that has a significant shot at building even more over time. For example, another large area that has been seeing traction in the world of enterprise and B2B software is employee training.
Specifically, enterprise learning systems are creating another way to help keep people not only up to speed on important aspects of how they work but also engaged at a time when connections are under strain.
“That is a very complex issue and requires deeper integrations finance and the CFO’s office. We streamlined it and made it easy to use. We launched two months ago and it’s on fire. After learning and development, there are other modules also down the road.” said Zehavi.
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