Hibob, a UK-headquartered human resources software provider, has secured $20m in a series A-plus round featuring Presidio Ventures, a corporate venturing subsidiary of diversified conglomerate Sumitomo.
Eight Roads Ventures, a venture capital arm of investment and financial services group Fidelity, also took part in the round, an extension to Hibob’s $17.5m series A in April 2017, as did Bessemer Venture Partners (BVP), Battery Ventures and Arbor Ventures.
Founded in 2015, Hibob has created a cloud-based software platform that incorporates human resources functions such as payroll, time and attendance tracking, onboarding, performance reviews and benefits.
The company, which has offices in New York, London and Tel Aviv, will use the extra funding to bankroll its expansion plans in the US and across Europe.
Davor Hebel, managing partner and head of Europe for Eight Roads, said: “Hibob can support the evolution of high-growth companies with its easy-to-use, next-generation tool, allowing teams to maintain all-important company culture as they expand into new locations and increase headcount.”
The round increased Hibob’s total funding to $45m. Battery Ventures led the 2017 series A round, investing alongside Eight Roads, Arbor Ventures and BVP.
BVP had previously led Hibob’s $7.5m seed round the year before, investing with LocalGlobe, Entrée Capital and private investors Taavet Hinrikus.