Israeli HR unicorn HiBob, which develops an HR management platform Bob, has announced the acquisition of cloud-based UK payroll automation platform Pento.
Why Pento?
Founded by Jonas Bøgh Larsen and Emil Hagbarth in 2016, Pento leverages real-time payment automation to deliver a fast, simplified, and error-free approach to payroll management. It has reduced payment processing from weeks to minutes for over 400 UK customers already using the Bob platform.
Pento’s technology will enable HiBob to expand its modern approach to human capital management into payroll, enhancing its full-suite capabilities for customers with UK operations looking to break away from cumbersome legacy payroll solutions.
Ronni Zehavi, CEO and Co-Founder at HiBob said: “The ultimate goal is an ‘all-in-one’ solution, where all aspects of people management are handled from a single platform. Modern businesses need their HR and payroll teams focused on people, not on manual work and traditional payroll processes are time-consuming, error-prone, and difficult to manage.”
He added: “Pento’s modern approach, along with their strong founders and proven track record, make them hugely complementary to our business. We are thrilled to be welcoming their team to HiBob.”
“We are incredibly proud of what the Pento team has achieved over the years, and this milestone is no different. We have built the best-in-class payroll offering that modern businesses deserve, and can’t wait to see the opportunities it will unlock when we pair this with the best HRIS on the market,” said Jonas Bøgh Larsen, co-founder and CEO at Pento.
Revolutionises HR tech
Established by Ronni Zehavi and Israel David in 2015, HiBob aims to disrupt the Human Capital Management (HCM) sector, providing an alternative to traditional platforms. HiBob empowers HR leaders, managers, and employees to adapt their processes in sync with the evolving work landscape, regardless of when, where, or how they operate.
HiBob’s flagship software Bob serves as an integrated HR hub, efficiently managing attendance records, time-off schedules, and various employee data inputs. Further, it enables employees to actively contribute to their data management, aligning with the company’s collaborative HR approach.
HiBob raised $150 million in its most recent funding round in October 2023 at a valuation of $2.7 billion. The company serves 3,500 customers across the globe, with offices in various international locations in London, Berlin, Amsterdam, Israel, and Germany, and its headquarters in New York.
Organisations using Bob can accelerate hiring, retain the best talent, elevate employee engagement, upskill, and produce seismic cultural shifts for their dynamic, distributed workforces.
