HiBob ECONOMIC

Supply Chain & Sourcing Relationships

HiBob is a SaaS/HCM technology provider rather than a retailer, food distributor, physical-goods importer, or financial institution.^{1, 2, 3} no public evidence identified of a relationship to agricultural aggregators or exporters, including Mehadrin, Hadiklaim, Galilee Export, Agrexco successors, or comparable physical-goods suppliers.^{1, 2} no public evidence identified of an importer-of-record structure, customs function, seasonal sourcing pattern, physical-goods supply chain, or third-party sourcing of Israeli-origin goods by HiBob.^{1, 2}

Product Origin, Labeling & Regulatory Compliance

HiBob’s disclosed business model is software-as-a-service rather than the sale of physical goods.^{1, 2, 3} no public evidence identified of settlement-origin products, country-of-origin labeling practices, or a corporate policy on goods from occupied or contested territories; these product-labeling categories are not applicable to the company’s disclosed software business model.^{1, 2}

No public evidence identified of HiBob or Cassiopeia operations, sales, customers, or revenue in West Bank, East Jerusalem, or Golan Heights settlements in the reviewed materials.^{4, 5, 6, 7, 8}

Investment, Capital & Financial Exposure

HiBob was founded in Tel Aviv in 2015 by Amit Knaani, Ronni Zehavi, Israel David, and Andy Bellass.^{1, 9, 10, 3} HI BOB LTD is an active Israeli limited company, registration number 515297281, created on 16 August 2015, with its recorded legal and headquarters address at 148 Derech Menachem Begin, Tel Aviv, Israel.³ Its Tel Aviv presence is therefore an operational nexus rather than a passive portfolio investment.^{11, 12, 2, 13, 3}

The company has raised successive institutional funding rounds: a $70 million Series B in December 2020; a $150 million Series C led by General Atlantic in 2021; a $150 million Series D up-round led by General Atlantic in 2022; and a further $150 million round in 2023 at a reported $2.7 billion valuation.^{14, 15, 16, 17, 18, 19} Identified institutional investors include General Atlantic, Bessemer Venture Partners, and Israel Growth Partners, an Israel-based growth-capital fund.^{20, 18, 21, 22} General Atlantic appointed Yoram Tietz as Senior Advisor in Israel in December 2022; this indicates an Israel advisory presence at the investor level, but no HiBob-specific relationship beyond reported board representation is established by the cited material.²³

On 1 September 2026, HiBob announced an investment led by Salesforce with Farallon participation, described in the announcement title and artwork as $166 million; the announcement does not disclose each investor’s amount or resulting ownership percentage.²⁴

No public evidence identified of HiBob holding Israeli sovereign bonds, maintaining a separate Israeli-company investment portfolio, or engaging in Israel Bonds sales, sovereign-debt underwriting, or trade-finance facilities to Israeli defense primes.^{20, 14, 15, 18, 21, 25}

Operational Presence & Market Activity

HiBob’s current public materials list offices in Tel Aviv, New York, London, Sydney, Amsterdam, Berlin, Lisbon, and Zagreb.^{11, 2} The Tel Aviv office is listed at 148 Derech Menachem Begin Street, while sources differ as to whether Tel Aviv or London is characterized as the company’s headquarters.^{1, 11, 12, 3} HI BOB LIMITED is a separate active UK private limited company, number 09787994, incorporated on 22 September 2015, with registered office at 5 New Street Square, London.²⁶

As of HiBob’s February 2024 Pento acquisition announcement, the company was reported to employ approximately 800 people, with half based in Israel.^{27, 28} Calcalist reported approximately 1,200 global employees, half in Israel, on 6 February 2025; this is dated reporting rather than a current payroll or registry record.²⁹ CEO Ronni Zehavi has publicly characterized HiBob as embedded in and supportive of Israel’s high-tech sector.³⁰

No public evidence identified confirming HiBob’s specific Israeli Preferred Technology Enterprise tax status.^{2, 3} no public evidence identified of a Cassiopeia or HiBob IDF procurement, Israeli-government procurement, defense-prime, settlement, Israel Bonds, sovereign-debt, or Israeli-tax/PTE nexus beyond the Israeli incorporation and operating-presence evidence stated in this audit.^{4, 5, 6, 7, 8}

Corporate Structure & Foundational Ties

HiBob is Israeli-founded rather than an acquired company.^{1, 9, 10, 3} Its own disclosures identify Hi Bob Ltd. at 148 Menachem Begin Road, Tel Aviv-Jaffa, as a group affiliate providing services, and identify Hi Bob Ltd. together with its affiliates as the company for purposes of the technology-partner terms.^{13, 31} The current affiliate disclosure also lists UK, Netherlands, German, Portuguese, Australian, Canadian, and United States affiliates, but is expressly limited to affiliates that may act as sub-processors and is not a complete historic acquisition register.¹³

The available Bloomberg LEI and UK registry records establish the coexistence of HI BOB LTD and HI BOB LIMITED, but do not conclusively establish their ownership relationship or identify either entity as the ultimate parent.^{3, 26, 32} HI BOB LIMITED’s filing history records group accounts for the year ended 31 December 2024, filed on 10 September 2025, together with 2025–2026 share-allotment filings; the reviewed material does not verify the subsidiary schedule or ownership percentages in those accounts.³² HI BOB LIMITED’s directors include Ronni Zehavi and Adam Fisher, both Israeli nationals resident in Israel, alongside Alexander Crisses, Michael Ettling, Davor Hebel, Ido Krakowsky, Scott Tobin, and Damien Wodak.³³ Its current PSC register states that it knows of no registrable person or registrable relevant legal entity; Ronni Zehavi’s prior PSC entry ceased on 4 January 2017 and does not establish a present ownership percentage.³⁴

HiBob’s current company page identifies Ronni Zehavi as CEO and co-founder and Israel David as CTO and co-founder; it also identifies executives Nirit Peled-Muntz, David Sussely, Michal Lewy Harush, Nadav Goshen, Paul Zeiter, Adi Janowitz, and Sophie Chesters.² The same page identifies board members Ronni Zehavi, Scott Tobin, Ido Krakowsky, Adam Fisher, Davor Hebel, Damien Wodak, Alex Crisses, and Mike Ettling, without disclosing a chair or ownership percentages.²

HiBob’s disclosed acquisitions include the following. It acquired Cassiopeia on 3 June 2021; it acquired Denmark-founded, UK-headquartered payroll company Pento in February 2024 for an estimated $40 million; and it acquired San Diego-based FP&A platform Mosaic in February 2025 for approximately $35 million, with roughly 70 Mosaic employees reported to have joined HiBob.^{27, 28, 35, 36, 37, 38, 39, 40, 7, 8}

HiBob’s 3 June 2021 acquisition announcement describes Cassiopeia as a Techstars-backed workplace-relationship-analytics startup with U.S. headquarters in San Francisco, California, serving customers primarily in the United States, United Kingdom, and Israel.⁷ The announcement does not identify Cassiopeia’s incorporation jurisdiction, registration number, Israeli legal entity, Tel Aviv office, or exact office configuration at closing.⁷ Secondary directory material identifies the acquired business as Cassiopeia Social Innovation Ltd., Israeli company number 515652782, established in 2017, and reports an Israel–United States footprint; these directory entries are not substitutes for a certified Israeli Registrar extract and do not establish the precise office configuration at acquisition.⁴¹

In a co-founder interview published on 31 August 2020, Shiran Yaroslavsky stated that Cassiopeia’s R&D was in Israel and its business side was in the United States. This directly establishes an Israeli development function before acquisition, independently of founder nationality; it does not establish the legal entity transferred or the exact office configuration in June 2021.⁴²

No public evidence identified of a primary corporate-registry filing, merger agreement, or other primary transaction record establishing Cassiopeia’s legal entity, seller, transfer mechanism, or post-closing ownership structure.^{7, 8, 41} Israeli customers identified in the acquisition announcement do not themselves establish Israeli incorporation or a physical Israeli operating presence.⁷

HiBob’s full acquisition announcement does not state purchase consideration, cash/share mix, valuation, ownership percentage acquired, or a purchase-price allocation.⁷ A contemporaneous HRO Today transaction table records the deal size as “n/a,” which does not establish that consideration was zero.⁴³ no public evidence identified of disclosed acquisition consideration in the reviewed acquisition materials and contemporaneous reporting.^{7, 8, 43}

HiBob stated that the Cassiopeia team joined HiBob and named co-founders Tomer Laszlo, Maayan Lahav, and Shiran Yaroslavsky; it stated that Yaroslavsky would become VP Product, U.S., based in California to lead North American product management.⁷ This supports team integration and a California-based role for Yaroslavsky at acquisition, but does not establish the retention, relocation, or separation of all Cassiopeia personnel.⁷ A later interview supports that Yaroslavsky joined HiBob after the acquisition and subsequently moved to SmartRecruiters, while not establishing the status of the remaining former Cassiopeia personnel.⁴⁴

HiBob stated in its 2021 acquisition announcement that it would add Cassiopeia’s technology to Bob, and its current corporate history states that it acquired “Cassiopia” and incorporated the Your Voice anonymous-reporting tool into Bob.^{7, 2} HiBob continues to market Your Voice as an available anonymous-reporting feature, and an independent ISG report describes the acquisition as adding workplace-relationship analytics technology.^{45, 46} These sources support continuing availability of Your Voice, but do not establish that the original Cassiopeia interaction-analytics code, connectors, or infrastructure survived, or identify the engineering team or development location responsible for the current feature.^{2, 7, 45, 46}

HI BOB LTD’s continuing Tel Aviv registration and affiliate disclosure establish HiBob’s continuing Israeli operating entity, not a Cassiopeia-specific post-acquisition office, R&D team, or retained legal entity.^{13, 3} no public evidence identified that Cassiopeia retained a separate Israeli office, that HiBob relocated Cassiopeia R&D to Israel, that Cassiopeia personnel were assigned to occupied territory, or that Cassiopeia operated as a separately branded unit after the acquisition.^{13, 7, 8, 3, 41}

CEO and co-founder Ronni Zehavi is a member of the executive committee of the IDF Disabled Veterans Organization (Beit Halochem).³⁰ In November 2025, Calcalist reported that HiBob was establishing and funding “Beit HaLochem 2.0,” a veteran-transition centre in Tel Aviv, alongside a storytelling platform and funded courses for wounded IDF soldiers.³⁰ In February 2025, Calcalist reported that HiBob awarded stock options specifically to its reservist employees who had served in the Israel-Hamas/Gaza war, and HiBob publicly discussed its employee response to the 7 October 2023 attacks.^{47, 48} These reported activities post-date the July 2024 ICJ Advisory Opinion and the November 2024 ICC arrest warrants.^{47, 30}

A full-text company-name check of the retained Don’t Buy Into Occupation 2025 report found no HiBob or Hi Bob match. This finding is confined to that report and does not establish absence from every external database or future edition.⁵

No public evidence identified of Israeli state ownership, government board appointees, a “critical national infrastructure” designation, golden shares, or structural governance features tying HiBob to Israeli state policy.^{13, 31, 3, 26, 32}

Profit Repatriation & Economic Contribution

No public evidence identified of Israel-specific revenue attribution. HiBob is privately held, and disclosed ARR or revenue figures, including a third-party estimate of approximately $121.7 million ARR in 2024, are global aggregates rather than country-level revenue disclosures.²⁵

Available reporting identifies institutional investors including General Atlantic, Bessemer Venture Partners, Farallon Capital, Battery Ventures, Eight Roads, Entrée Capital, Israel Growth Partners, and Rhone Growth, while Israel remains an operational and engineering base.^{20, 14, 15, 18, 21, 22, 3} No primary financial disclosure identified in the reviewed material establishes the direction, amount, or recipient of profit repatriation, and the current group records do not verify an intercompany ownership schedule or beneficial-ownership percentages.^{3, 26, 32, 34}

HiBob has been characterized in Israeli technology press as a prominent HR-tech unicorn and employer within Israel’s high-tech sector.^{27, 28, 47, 30} no public evidence identified of a formal government or industry-body designation of HiBob as a sector anchor.^{27, 28, 47, 30}