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Hibob closes $17.5m Series A, brings total raised to $25m

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London-based HR platform Hibob has closed a $17.5m Series A led by US-based VC Battery Ventures.

The startup also drew support from Eight Road Ventures, Arbor Ventures and Bessemer Ventures, who led its $7.5m Seed last year.

With $25m in funding, Hibob says it will use the money to scale, build additional partnerships, address regulatory requirements and expand across the globe by the end of the year.

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Speaking about the news, Ronni Zehavi, the co-founder and CEO, said: “Our vision is to transform the way businesses engage with their employees and empower HR to be at the forefront of this fundamental change.”

“We see mobile and social media, the growing millennial workforce and cloud technologies as major forces for this long-needed innovation. We are honored to have raised additional investment from VCs who were part of our seed round and welcome new visionaries on our journey to reshape the way businesses understand and interact with their employees,” Zehavi added.

The company says it currently employs 50 people in the UK and Israel and claims to have ‘hundreds’ of companies actively using its platform in the UK.

Scott Tobin, general partner at Battery Ventures, said HR was evolving from a compliance-only function to a strategic business role.

“It needs to be able to consolidate and simplify its administrative responsibilities so that it can be freed up to convert the energy and passion that young people arrive with into long-term engagement. We believe hibob’s highly experienced team has an intrinsic understanding of how to address these core issues that businesses must solve,” he added.

 To check out the latest UK tech investments, visit the Tech City News Investment Tracker.

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