HiBob series D funds product, employee, and market growth

HR software platform HiBob has achieved a $214m series D raise following a series C raise of the same amount in October 2021. In conversation with HR Leader, HiBob's regional head for APAC Damien Andreasen explains what the raise means for their market.

On 18 August 2022, HiBob revealed their latest fund raise of $150m USD ($214M AUD). Following the announcement, Mr Andreasen said: “HiBob has made great strides in Australia over the past 12 months, helping modern, mid-sized organisations transform their HR function. As a result, we’ve recently been named a Forbes Cloud 100 company and have been awarded a Great Place To Work accreditation in Australia."

“Our regional success comes down to the fact that there’s no HR tech company in Australia that caters to mid-market quite like we do. We understand that the HR challenges facing a mid-sized organisation are very different to those facing small and large organisations. As a result, we’ve signed a great number of new customers over the past year, and our customer acquisition projections are extremely healthy for the next 12 months – despite a global economic downturn."

Speaking with HR Leader, Mr Andreasen highlighted how the series D funds will be used. He shared that the money would go to: "Product development – continuing to invest heavily in product development, including enhancing our existing capabilities and launching new features like workforce planning in quarter four. We will continue to develop features based on the needs of our clients so we become the last HRIS they will ever need."

He added that the raise would also be used for: "Employee and regional growth – [continuing] to invest in ANZ and APJ to strengthen our teams to better service our clients as we continue to expand our global footprint."

“This funding round enables HiBob to inject even more resources into Australia, through hiring new people across the board, evolving our product capabilities, and supporting our existing customers.”

Don't miss HiBob's podcast with The HR Leader: 'HiBob on how tech is supporting the future of work' and Mr Andreasen's article: '3 ways companies can support employee mental health during a recession'.

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Shandel McAuliffe

Author

Shandel has recently returned to Australia after working in the UK for eight years. Shandel's experience in the UK included over three years at the CIPD in their marketing, marcomms and events teams, followed by two plus years with The Adecco Group UK&I in marketing, PR, internal comms and project management. Cementing Shandel's experience in the HR industry, she was the head of content for Cezanne HR, a full-lifecycle HR software solution, for the two years prior to her return to Australia.

Shandel has previous experience as a copy writer, proofreader and copy editor, and a keen interest in HR, leadership and psychology. She's excited to be at the helm of HR Leader as its editor, bringing new and innovative ideas to the publication's audience, drawing on her time overseas and learning from experts closer to home in Australia.

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