Hibob raises $7.5M to help SMEs manage their people (and those pesky workplace pensions)

Hibob, a U.K.-based HR tech startup, has raised $7.5 million in seed funding led by Bessemer Venture Partners. The company offers a cloud platform to help businesses manage their employees, with a particular focus on simplifying pension auto-enrolment in compliance with recent U.K. legislation. Hibob targets SMEs struggling with traditional HR methods, aiming to streamline workflows and improve employee engagement. The platform offers features like automated reports, compliance tracking, and employee grouping based on shared interests. With its user-friendly interface and comprehensive HR solutions, Hibob is well-positioned to address the growing need for efficient people management tools in the U.K. market.

Hibob Secures $7.5M Seed Funding to Streamline HR and Pension Management for SMEs

Hibob is a U.K. startup that has developed a cloud-based platform designed to assist businesses in managing their workforce. The platform encompasses a range of HR functionalities, including the management of employee benefits, staff engagement initiatives, churn reduction strategies, and notably, 'auto-enrolment.' This latter feature addresses recent pension legislation in the U.K. that mandates all employers to provide a workplace pension scheme. The company's decision to prioritize the U.K. market for its initial launch was significantly influenced by this legislative change. Hibob's platform strives to simplify and enhance the process of managing and engaging employees, minimizing administrative burdens associated with tasks such as compliance assurance and the generation of routine HR reports. A standout feature of the platform is its capability to categorize employees based on shared characteristics beyond their formal work roles. This encompasses factors like parental status or participation in workplace 'clubs' such as a cycling group. This approach aims to align people management software with the offline dynamics and culture of the workplace. A key aspect of Hibob's strategy lies in its focus on pension schemes. The company aims to capitalize on the administrative challenges posed by mandatory workplace pension schemes in the U.K., which involve varying regulations for employees based on their tenure. By providing a solution for auto-enrolment, Hibob positions itself to potentially function as a pension broker.

Hibob is a cloud-based platform that helps businesses manage their people, including HR tools, employee engagement, and pension auto-enrolment.

9 years ago

Hibob Secures $7.5M Seed Funding to Streamline HR and Pension Management for SMEs

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