HiBob, which offers cloud-based HR tools, has raised a $150M Series D led by General Atlantic at a $2.45B valuation, up from $1.65B in October 2021
Paul Sawers / TechCrunch :
Context & Ripple Effects
HiBob’s new round follows a $150M Series C in October 2021 that was also led by General Atlantic and valued the HR software provider at a reported $1.65B. It also extends a financing progression from its $70M Series B in 2020 and earlier HR and benefits funding.
The valuation increase matters because it shows HiBob preserving upward financing momentum while raising the same dollar amount as its prior round, with its existing lead investor again backing the company.
First-order effects
- HiBob adds $150M of financing at a $2.45B valuation, while General Atlantic reinforces its position as the company’s repeat lead investor.
- HiBob’s stated valuation rises by $800M from the reported October 2021 level, giving the company a stronger capital and valuation benchmark within cloud HR software.
Second-order effects
- Other HR-software vendors, including hourly-worker management provider Homebase, face a better-capitalized HiBob when competing for customers and future investor attention.
- Repeat backing from General Atlantic raises the importance of investor continuity in later-stage HR-software fundraising, rather than making a new lead investor the signal of confidence.
Third-order effects
- If successive rounds continue to reward vendors such as HiBob with higher valuations, cloud HR software may increasingly separate into well-financed platforms and smaller specialist providers with less access to growth capital.
- The pattern points to HR software becoming a sustained late-stage venture category, where repeat investors help determine which companies can maintain independent expansion.
The trend: Cloud HR software is attracting follow-on late-stage capital as investors concentrate behind vendors that can carry valuation gains across multiple rounds.