Hibob, the UK-based provider of a human resources (HR) and employee engagement app, has completed a $70m series B round co-led by online recruitment marketplace Seek and growth equity firm Israel Growth Partners.
Founded in 2015, Hibob has developed an employee engagement app that lets human resources professionals onboard, manage and incentivise employees using a range of data-oriented tools.
Clients use the company’s mobile or web-based interface to quickly register new personnel and can then introduce teammates and the working culture while monitoring employee performance.
The series B funding will help Hibob pursue a greater market share, and a representative from Seek will take a seat on its board of directors in conjunction with the corporate’s investment. Hibob said the round increased its overall funding to $124m.
The comapany closed a $37.5m series A round in March 2019 that included Presidio Ventures and Eight Road Ventures, subsidiaries of diversified conglomerate Sumitomo and investment and financial services group Fidelity respectively.
Venture capital firms Bessemer Venture Partners (BVP), Arbor Ventures and Battery Ventures also supplied series A capital, after a $7.5m seed round led by BVP in 2016 that included LocalGlobe, Entrée Capital and Taavet Hinrikus.
Andrew Bassat, co-founder and chief executive of Seek, said: “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.”