Salesforce leads $166 million investment in HiBob, valuing Israeli HR tech company at $3.2 billion
The Bob developer says its platform can provide the workforce data, organizational context and permissions needed to deploy AI tools and agents inside companies.
HiBob, the developer of the Bob employee management platform, has completed a $166 million funding round led by Salesforce. The round is the largest in the company’s history.
HiBob has raised more than $700 million since its founding. Its latest round values the company at approximately $3.2 billion, up from $2.7 billion in its previous funding round, about three years ago.
Sources familiar with the deal said HiBob plans to use the new capital to pursue acquisitions and expand its platform.
The Bob platform provides organizations with workforce data and information about the organizational context in which employees operate. The company is positioning the platform as infrastructure for deploying AI tools and agents, which require access to accurate workforce data, organizational structures, permissions and established work processes.
The Salesforce investment comes as enterprise software companies face questions about how their businesses will evolve as AI increasingly takes over tasks traditionally handled by software. Rather than making cloud software, or SaaS, less important, the shift toward AI could increase the value of platforms that control trusted organizational data and are deeply embedded in companies’ workflows.
For HiBob, the funding represents a significant increase in valuation from its previous round. The company raised $150 million in September 2023 at a valuation of approximately $2.7 billion. That round was led by Farallon Capital, in its first investment in an Israeli company, alongside Alpha Wave Global and existing investors.
Over the years, HiBob has attracted investment from prominent venture capital and growth funds, including General Atlantic, Bessemer Venture Partners, Battery Ventures, Eight Roads Ventures, Index Ventures, Norwest Venture Partners, Entrée Capital, Vintage Investment Partners and Arbor Ventures.
