Remote working HR technology startup Hibob raises $70mn
An undeniable consequence of the ongoing COVID-19 pandemic has been the unprecedented move to remote working. Supporting that move has been a wide array of technological solutions, from collaboration tools such as Slack to video conferencing software like Zoom.
Among those solutions is human resources software firm Hibob, which operates a “people management” platform known as bob. The platform emphasises its social engagement features more than time tracking or payroll features, allowing managers to engage with employees who are working remotely.
It also features integrations with widely used third-party software such as Slack and Microsoft Team and among its customers, Hibob counts companies such as Monzo, Revolut and Fiverr.
Since being founded in 2015, the company has raised across six funding rounds. Its latest Series B round, announced yesterday, saw the company raise from lead investors SEEK and Israel Growth Partners, alongside Presidio Ventures, Perpetual Investors, Entree Capital, Eight Roads Ventures, Cerca Partners, Bessemer Venture Partners, Battery Ventures and Arbor Ventures.
In , Ronni Zehavi, CEO and Co-founder of Hibob, said: "As we were developing the concept behind our HR platform, we looked at the world of work and recognized that it was changing. I've spent my career managing people in different kinds of organizations and came to the realization that the vast majority of HR tech tools I used were not designed for the way people work today - globally, remotely, and collaboratively. We founded Hibob to create a modern HR platform built for the changing demands of the modern workplace."
The company said it would use the funds to expand globally, grow its operations and further develop its products.
"Our investment philosophy includes investing in emerging HR SaaS leaders with platforms that deliver superior solutions, provide better value, and allow for an improved employee experience for scaling businesses," said SEEK CEO and Co-founder, Andrew Bassat.
ServiceNow pumps millions into EU service compliance
ServiceNow, the digital workflow company, has announced a multimillion euro investment to help EU customers meet compliance requirements.
The legal, technical and organisational safeguards will help companies to comply with the the Schrems II judgment and European Data Protection Board (EDPB) Recommendations issued in June 2021.
ServiceNow’s investment means all EU-hosted data will be exclusively handled within the EU, and the cloud-hosted digital workflow provider claims its solution will come “without impact on current delivery and service”.
ServiceNow upgrade: free of charge
There will be no cost for current customers to opt in to the data compliance solution, even though ServiceNow is investing an unspecified multimillion euro sum and hiring more than 80 new staff across the bloc.
Mark Cockerill, vice president legal, EMEA and global head of privacy at ServiceNow, said: “With any regulation change, cloud services companies have a choice. They can adopt a ‘wait and see’ approach or get proactive and help customers and partners innovate. At ServiceNow we are on the front foot, continually investing in our customers, allowing them to operate with the highest level of choice and control over their EU data.
ServiceNow upgrade: ‘peace of mind’
“Our new EU-centric service delivery model will give our current customers and partners peace of mind. For customers and partners operating in highly regulated industries, or in the public sector, or those that have yet to make the switch to the cloud, this model gives them certainty and simplicity when selecting the cloud service that best suits their needs.”
Carla Arend, lead analyst, cloud in europe for IDC, said, “The Schrems II ruling has led European organizations to revisit their cloud-related data protection policies and processes when it comes to international data transfers through cloud services.
“Contractual, privacy, and security safeguards and the assurance that data will be kept and handled in the EU help European organizations to comply with European data protection laws while taking advantage of global cloud platforms. Vendors, such as ServiceNow, that invest to support their customers in response to this ruling are providing essential choice to their customers.”