Hibob, an Israeli startup that developed human resources management software, announced that it raised $20 million in an extension of its series A funding round from investors including Bessemer Venture Partners, Battery Ventures, Eight Roads, Arbor Ventures, and Presidio Ventures.
In 2017, Hibob raised an initial $17.5 million in Series A, preceded by a $7.5 million seed round in 2016. This latest round brings Hibob’s total venture capital raised to $45 million.
Founded in 2015, Hibob’s flagship software, called Bob, serves as a central hub for a company’s every HR need, and includes attendance records, time-off schedules, and nearly any piece of data a firm would collect from its employees. The software is designed so employees can input much of the data themselves. It also offers strategic platform integrations with Slack, Workable, GreenHouse, Aviva, Canada Life, and UNAM.
“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,” said Hibob CEO and cofounder Ronni Zehavi, according to Venture Beat. “Companies need the right tools to develop and maintain top talent as they grow from hundreds of employees to thousands. 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.