Start-up HiBob raises another £14 million for HR platform

A Shoreditch-based start-up chaired by Lady Barbara Judge has raised another £14 million for its growth, just four months after officially launching its human resources software.

HiBob’s latest cash injection came from US investment firm Battery Ventures, as well as Fidelity’s venture capital fund Eight Roads Ventures.

Early backers include TransferWise chief executive Taavet Hinrikus, and Saul and Robin Klein’s fund LocalGlobe.

HiBob, whose platform helps companies manage office perks, staff holidays and pensions, has already raised £20 million in two funding rounds in its bid to shake up the human resources industry.

The company welcomed Lady Judge, the chairman of the Institute of Directors and former chairman of the Pension Protection Fund, in August, having launched beta testing two months earlier. The service went live in December.

Co-founder and chief executive Ronni Zehavi, an Israeli entrepreneur who sold his last company for $300 million, said auto-enrolment provided an “opportunity for us to come in and innovate”.

HiBob has teamed up with Aviva and has other similar pensions partnerships in the pipeline.