Funding round
HiBob Series B
HiBob, which works in HR management platform solutions in New York, raised $70M in a Series B round announced on 10 Dec 2020, led by SEEK and Israel Growth Partners, at a $500M post-money valuation. 10 firms took part. It is HiBob's third venture round on record; the one before was a Series A in Apr 2017.
$70M
Amount raised
$500M
Post-money valuation
$430M pre-money
10
Investors
2 leads
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced HiBob at $500M after the new money. The $70M bought investors about 14% of the company. It came 44 months after HiBob's Series A. It is 9.8% of the $711M HiBob has raised in the venture rounds on record. HiBob raised again 10 months later: a Series C round of $150M in Oct 2021, at $1.65B post-money.
HiBob's funding rounds
HiBob has 7 venture rounds on record. This one is highlighted.
- Seed 1 Jun 2016, led by Bessemer Venture Partners $7.5M
- Series A 25 Apr 2017, led by Battery Ventures $18M
- Series B this round 10 Dec 2020, led by SEEK and Israel Growth Partners $70M$500M post-money
- Series C 13 Oct 2021, led by General Atlantic $150M$1.65B post-money
- Series D 17 Aug 2022, led by General Atlantic $150M$2.45B post-money
- Growth 19 Sep 2023, led by Farallon and Alpha Wave Global $150M$2.70B post-money
- Growth 1 Sep 2026, led by Salesforce Ventures $166M$3.20B post-money
Investors
Who put money in
SEEK and Israel Growth Partners led the round with 8 other firms.
Lead investors
- SEEK new investor
- backs 16 venture-backed companies new investor
Also in the round
- Bessemer Venture Partners backs 412 venture-backed companies new investor
- Battery Ventures backs 215 venture-backed companies new investor
- backs 125 venture-backed companies new investor
- backs 20 venture-backed companies new investor
- backs 37 venture-backed companies new investor
- backs 80 venture-backed companies new investor
- backs 21 venture-backed companies new investor
- new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
798 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 2.3 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| ClickUp Tech Companies | 15 Dec 2020 | $100M | $1.00B | Georgian |
| Tech Companies | 8 Dec 2020 | $75M | not disclosed | New Enterprise Associates and Koch Disruptive Technologies |
| Orca Security Tech Companies | 8 Dec 2020 | $55M | not disclosed | ICONIQ Growth |
| Tech Companies | 10 Dec 2020 | $44M | not disclosed | EQT Ventures |
| Tech Companies | 31 Dec 2020 | $43M | not disclosed | not named |
| Tech Companies | 16 Dec 2020 | $40M | not disclosed | Stripes and Moore Strategic Ventures |
| Tech Companies | 16 Dec 2020 | $40M | $255M | OpenView |
| Tech Companies | 7 Dec 2020 | $35M | not disclosed | Andreessen Horowitz and Sequoia Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did HiBob raise in its Series B round?
HiBob raised $70M in its Series B round, announced in Dec 2020.
Who led HiBob's Series B round?
SEEK and Israel Growth Partners led it, with Bessemer Venture Partners, Battery Ventures, Eight Roads, Arbor Ventures and Presidio Ventures and 3 more.
What was HiBob's valuation at the Series B round?
$500M post-money ($430M pre-money).
How does it compare with other Series B rounds in Tech Companies?
798 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 2.3 times the median.
Did HiBob raise again after this round?
Yes: a Series C round in Oct 2021 of $150M at $1.65B post-money.