Israeli HR and benefits solutions platform HiBob has acquired Pento, a payroll automation platform with headquarters in London. The conditions of the agreement are still unknown.
Pento spares employers the laborious and sometimes agonizing task of going through spreadsheets, looking over PDFs, proofreading emails, and other error-prone processes in favor of a suite of tools, real-time computations, and enhanced transparency to ensure the task is completed.
For over 400 UK customers, the business claims to have slashed payment processing time from weeks to minutes. Since many of these clients are already familiar with Bob, the acquisition and the ensuing technique integration and merger ought to be smooth, if not entirely invisible.
Founded in 2017, Seedcamp, The Phoenix Group, General Catalyst, Avid Ventures, and Tiger Global are among the investors who supported Pento.
Pento had raised about $54 million.
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.
“We are thrilled to join HiBob to give our shared customers an integrated offering that is levels above other solutions in the market, and are excited to continue to make payroll stress-free for even more businesses.
Jonas Bøgh Larsen, CEO Pento
HiBob raised $70M in December 2020.
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15/02/2024
