San Francisco-based multi-strategy hedge fund Farallon Capital Management has led a funding round in HR cross-platform software specialist HiBob at a valuation of $2.66bn, up from the company’s 2022 valuation of $2.45bn, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as confirming that as part of the Series D deal, Farallon invested $100m, while Alpha Wave Global and existing investors provided an additional $50m.
According to Bloomberg’s sources, all capital invested in the deal is primary — meaning the cash isn’t buying out founders or existing investors. HiBob is planning to use the funding to “help attract larger accounts, expand into new geographies, accelerate partnerships and invest in technology such as artificial intelligence,” said co-founder Ronni Zehavi in an interview.
Farallon has around $39bn of assets and commitments, with about a quarter of that having been allocated to private deals.