Currently an invite-only beta, Hibob, a London/Tel Aviv based company boasts $7.5m before its launch thanks to a round led by Silicon Valley VC Bessemer Ventures Partners where Taavet Hinrikus, co-founder and CEO of TransferWise, is an investor, along with Robin and Saul Klein’s LocalGlobe. Hibob’s co-founder and CEO Ronni Zehavi are part of the reason why the startup was able to raise such a good seed round for a European venture. He previously founded CDN Cotendo, which, in 2011, was sold to Akamai for around $300 million notes TechCrunch. In a call, Zehavi and Hibob’s CSO Andy Bellas explained that Hibob is targeting SMEs with a people focused HR platform competing with Excel other aged systems with which small businesses attempt to manage their employees.
Hibob aims to improve the workflow managing and engaging employees, saving admin time, complying and generating a host of common HR reports but it is probably pension schemes that are the biggest Hibob bid. Come for the personal-touch management, and stay for auto-enrolment solving enormous administration headaches that the mandatory workplace pensions schemes will create in the U.K. Different rules apply to different employees, based on length of company service and must lead to the inevitable of Hibob becoming pension brokers.