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.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS21101503
All your finances.
All in one app.
App Store rating
