Funding round
HiBob Series C
HiBob, which works in HR management platform solutions in New York, raised $150M in a Series C round announced on 13 Oct 2021, led by General Atlantic, at a $1.65B post-money valuation. 5 firms took part, 4 of them already investors. It is HiBob's fourth venture round on record; the one before was a Series B in Dec 2020.
$150M
Amount raised
$1.65B
Post-money valuation
5
Investors
1 lead
3.3x
Step-up from the Series B
$500M in Dec 2020
9.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced HiBob at $1.65B after the new money, 3.3 times the $500M of its Series B (Dec 2020). The $150M bought investors about 9.1% of the company. It came 10 months after HiBob's Series B. It is 21% of the $711M HiBob has raised in the venture rounds on record. HiBob raised again 10 months later: a Series D round of $150M in Aug 2022, at $2.45B 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 10 Dec 2020, led by SEEK and Israel Growth Partners $70M$500M post-money
- Series C this round 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
General Atlantic led the round with 4 other firms. Bessemer Venture Partners, Battery Ventures, Eight Roads and Entrée Capital had backed HiBob before.
Lead investor
- General Atlantic backs 134 venture-backed companies new investor
Also in the round
- Bessemer Venture Partners backs 412 venture-backed companies existing investor
- Battery Ventures backs 215 venture-backed companies existing investor
- backs 125 venture-backed companies existing investor
- backs 80 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and acquisitions.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
Comparable rounds
How it compares
500 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 2.4 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Orca Security Tech Companies | 5 Oct 2021 | $550M | $1.80B | Temasek |
| ClickUp Tech Companies | 27 Oct 2021 | $400M | $4.00B | Andreessen Horowitz and Tiger Global |
| Rippling Tech Companies | 21 Oct 2021 | $279M | $6.52B | Sequoia Capital |
| Tech Companies | 8 Oct 2021 | $275M | $10.00B | Sequoia Capital and Coatue |
| Tech Companies | 11 Oct 2021 | $250M | $6.00B | Greenoaks and Insight Partners |
| Tech Companies | 28 Oct 2021 | $188M | $1.30B | Sapphire Ventures |
| Tech Companies | 7 Oct 2021 | $135M | $1.00B | Altimeter |
| Tech Companies | 26 Oct 2021 | $111M | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did HiBob raise in its Series C round?
HiBob raised $150M in its Series C round, announced in Oct 2021.
Who led HiBob's Series C round?
General Atlantic led it, with Bessemer Venture Partners, Battery Ventures, Eight Roads and Entrée Capital.
What was HiBob's valuation at the Series C round?
$1.65B post-money.
How does it compare with other Series C rounds in Tech Companies?
500 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 2.4 times the median.
Did HiBob raise again after this round?
Yes: a Series D round in Aug 2022 of $150M at $2.45B post-money.