Cloud-based human resources (HR) platform HiBob announced today that it has raised $150 million in a Series D funding round at a valuation of $2.45 billion.
This represents a nearly 50% increase compared to its Series C valuation round just 10 months ago, when it also raised $150 million. But perhaps most interestingly, HiBob appears to have bucked a broader trend that has seen valuations of start-ups and start-ups plunge in a sea of corrections and rounds down: in the past month, Swedish fintech buy now pay later, Klarna, saw its valuation drop 85% to $6.7bn in the space of a year, while payments giant Stripe has apparently seen its own internal valuation drop 28% to $74bn. millions of dollars.
Founded in Israel in 2015, HiBob’s platform, which he calls Bob, provides HR teams. .
It’s worth noting that one of HiBob’s rivals in the space, Personio, recently raised $200 million at a valuation of $8.5 billion, a 35% increase from last year. So it’s clear that investors are pretty bullish on HR tech, particularly at a time when companies are navigating a new world where remote and hybrid working have increasingly become the norm. and the competition for talent has reached a fever pitch.
In fact, HiBob said it’s just coming off its sixth straight year of “triple-digit revenue growth,” while its internal headcount has doubled with more than 370 new hires in the past year.
“Competition for talent remains intense even amid growing market uncertainty,” HiBob CEO and co-founder Ronni Zehavi said in a press release. “Modern companies that value their talent know that HRIS (human resource information systems) is not just about headcount growth, but about effective and proactive people management during periods of expansion and contraction.”
HiBob The Series D round was led by General Atlantic, with the participation of Bessemer Venture Partners, among others. The company has now raised around $425 million since its inception.