Friday Fundings: Outschool, Hailo, and Hibob
Online Classes Marketplace Operator Raises $110 Million
Outschool, a marketplace for children’s enrichment classes, raised $110 million in a Series D round of funding. The fundraising, which was led by previous investor Tiger Global Management, values the startup at $3 billion. Other investors which participated in the round included BOND, Lightspeed Ventures, and Union Square Ventures.
The startup has raised funding at a fast clip in the past 12 months as demand for its classes surged during the pandemic. It now has more than 140,000 virtual, small-group classes for kids between the ages of 3 and 18. Investors are enthusiastic about the company even though most schools have returned to in-person learning. Outschool plans to use the money for global expansion and to add new products for parents and schools.
Israeli AI Chip Maker Raises $136 Million
Hailo, a startup which makes artificial chips, raised $136 million in fresh funding. The round, which was led by Poalim Equity and Gil Agmon, gives the company a $1 billion valuation. Hailo has raised a total of $224 million since its inception. Demand for AI processors for devices that sit at the edge of the network is growing, presenting an opportunity for the AI chipmaker. Hailo’s chips are used in smart cities, for industrial applications, and by retailers.
Hailo plans to use the money to make next-generation chips. It also plans to expand in its new and existing markets.
Digital HR Platform Raises $150 Million
Hibob, an HR digital platform startup, has raised $150 million in venture funding. The Series C round was led by the growth equity firm General Atlantic. The round also included participation from Bessemer Venture Partners, Battery Ventures, Eight Roads, and Entrée Capital. The round values Hibob at $1.65 billion. Hibob operates a modern human resources information system platform that enables HR teams, leadership, managers, and employees to collaborate.
Proceeds from the fundraising round will be used for Hibob to expand globally to reach more companies and to develop new technology to support its customers.
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