Israeli human resources technology startup Hibob said today it has raised $20 million in a Series A funding round, bringing its total financing to date to $45 million. Existing investors Bessemer Venture Partners, Battery Ventures, Eight Roads, Arbor Ventures and Presidio Ventures participated in the funding round. The expanded investment will help the company accelerate its penetration in U.S. and European markets.
Said CEO and cofounder Ronni Zehavi in an interview with VentureBeat, “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. 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.”
Hibob was founded in 2015 and employs 130 people in New York, London, and Tel Aviv.