The VC firm has previously injected funding into LinkedIn, Pinterest and Skype, while UK-based LocalGlobe – an early backer of Citymapper and Zoopla – and angel investors also contributed to the round.Hibob describes itself as “people management platform” and promises to reduce churn and enhance staff engagement for its SME partners. The capital will be used to market the business as “the go-to platform for modern businesses that care about their employees”. Currently, the cloud-based service works on an invite-only basis, which makes its investment – “one of UK’s largest ever seed rounds” – even more significant. Hibob says it can save firms almost two months of HR and admin work annually. The company backed up its efficiency claims by noting that 90 per cent of those looking after HR rely on spreadsheets for daily tasks. To that end, Hibob says its data-based design will provide SMEs the chance to make informed decisions on employee perks and so on. Andy Bellass, co-founder of hibob, said: “As pressure mounts on SMEs to get auto-enrolment sorted, this is the perfect time for businesses to get smarter on how they manage their people overall.” Bellas added that he and his co-founders believed the people management process had “stagnated” while other business procedures had evolved, which prompted them to set out on changing the marketplace.
Read more on successful funding rounds:
- Antonio Banderas named lead in Salty – world’s first equity crowdfunded Hollywood film
- Former Grazia editor takes “Uber for beauty” to Seedrs for crowdfunding investment
- Eight UK social enterprises secure seed funding to use tech for good
Uber has offered entrepreneurs the chance for an in-car pitch to investors, which could see funding and a meeting with CEO Travis Kalanick.
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