Salesforce Backs HiBob with $166M Funding Round

Salesforce is leading a $166 million funding round for HiBob, valuing the company at over $3.2 billion. This brings the total amount of capital raised by HiBob to over $700 million.

HiBob's software helps companies manage HR tasks like onboarding and compensation, with a focus on midsize customers. The company serves 5,500 customers in 170 countries and competes with Workday Inc.

HiBob CEO Ronni Zehavi said the fresh capital will be used to invest in the company's HR platform, pursue acquisitions, and expand into new regions.

Zehavi believes that SaaS companies are not being replaced by AI, but rather are reinventing themselves. He argued that HR systems require security and governance needs that cannot be easily swapped out by AI alone.