Market Chatter: Salesforce Invests in HiBob to Expand HR Software Platform

MT Newswires Live19:01

Salesforce (CRM) is investing in human resources software company HiBob as part of a $160 million funding round that values the startup at more than $3.2 billion, Bloomberg reported Tuesday, citing people familiar with the matter.

According to the report, Salesforce is leading the round and providing the majority of the funds, with participation from Farallon Capital Management.

HiBob plans to use the proceeds to invest in its HR software platform, explore acquisitions and expand geographically, Bloomberg reported, citing Chief Executive Officer Ronni Zehavi.

Salesforce did not immediately respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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