UK HR management and employee benefits platform Hibob has raised $17.5m in its Series A funding round.
The investment was led by US VC Battery Ventures with Eight Roads Ventures (the proprietary investment arm of Fidelity), Arbor Ventures and existing backer Bessemer Venture Partners also participating.
Hibob’s platform is designed to help businesses to manage and engage with their employees as well as providing them with access to a marketplace of employee benefits such as pensions, healthcare and insurance.
Hibob co-founder and CEO Ronni Zehavi 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.”
The company last month partnered with insurer Aviva to automatically use employee information to assess eligibility, plan costs and feed directly into Aviva’s online system.
Hibob says it will use the capital to forge new partnerships like this as well as to further develop its tech.
The startups previously raised $7.5m in a Seed round led by Bessemer Venture Partners with participation from LocalGlobe and Entree Capital.
“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,” commented Zehavi.
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Copyright © 2018 RegTech Analyst
