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Hibob attracts Silicon Valley investment in $7.5m seed round

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Hibob, a startup which seeks to disrupt the way in which SME’s approach people management, has raised $7.5m in seed funding.

Silicon Valley-based Bessemer Venture Partners – an investor in Skype, LinkedIn and Pinterest – led the round, which also drew support from LocalGlobe and several angel investors.

Andy Bellass, co-founder of hibob, commented on the round’s closure : “As pressure mounts on SMEs to get auto-enrolment sorted, this is the perfect time for businesses to get smarter on how they manage their people overall. As a business owner myself, I found it frustrating that people management seemed to have stagnated as other business processes modernised around it, even though it’s so crucial to success.

“My co-founders found themselves in similar situations, so we decided to do something about it and build a platform that sorts all the people stuff while still being user friendly,” he added.

Launching today, the people management platform claims to save businesses up to 36 days a year on day-to-day tasks and drive staff retention.

The money, Bellass said, will be used to grow the business.