Hibob, a HR tech platform with bases in London and New York, has raised £52.5m in funding for its global expansion plans.
The firm, which offers a cloud-based human resource and benefits platform, secured the investment with the help of the venture capital firms Seek and Israel Growth Partners.
Since its launch in 2015, Hibob has raised roughly £93m to extend its global presence and drive its product development.
Ronni Zehavi, co-founder and CEO at the company, said: “We see this investment as a signal not only of our potential as a company but of the importance of the HR function in companies and HR tech as a platform for HR leaders.
“This $70m (£52.5m) investment isn’t just for us at Hibob—it’s for HR as an industry. Now is the time to invest in HR as a discipline and a function.”
Hibob is currently the management platform of choice for almost 1,000 companies, including multinational brands such as Monzo, Revolut, and Cazoo.
Zehavi added that the firm’s “out-of-the-box” customer feedback has allowed it to “build the best people management platform”.