Israel has added two more technology startups to its growing list of unicorns, with chipmaker Hailo and HR engagement platform Hibob raising fresh capital at a valuation of more than $1 billion.
The two companies join more than a dozen and a half other Israel-based or Israeli-origin tech companies that have pocketed new funding cheques and joined the unicorn club in 2021. These include HoneyBook, Sunbit, Deel, Redis Labs, Orca Security, Wiz, Yotpo, Papaya Global, Earnix and Axonius Inc.
Hailo raised $136 million in a Series C round led by Poalim Equity and Gil Agmon.
Other new investors who joined the round include Carasso Motors, Comasco, Shlomo Group, Talcar Corp., and Automotive Equipment.
A number of existing backers including Hailo chairman Zohar Zisapel, Swiss-based ABB Technology Ventures, London’s Latitude Ventures and Israel’s OurCrowd also took part in the round.
Hailo didn’t disclose the valuation at which it raised the money, but local media said it was valued at more than $1 billion.
With this money, the company has raised $224 million since it was founded in 2017 by CEO Orr Danon, CBO Hadar Zeitlin and CTO Avi Baum, all former intelligence officers of the Israeli defence forces.
The company said the new money will help it meet demand for the Hailo-8 AI processor, further develop next-generation products, and expand into new and existing markets across the world.
HR-technology platform Hibob entered the unicorn club with a $150 million fundraise which values it at $1.65 billion, local media reported.
The investment round is set to be backed by US-based growth equity provider General Atlantic and will include Hibob’s previous investors, according to news website Calcalist.
This round will follow a $70 million Series B fundraise the company had raised in December. That round was led by SEEK and Israel Growth Partners.
The company was founded in 2015. It is also backed by Bessemer Venture Partners, Battery Ventures, Eight Roads, Arbor Ventures, Entrée Capital, Cerca Partners, Perpetual Partners, and Presidio Ventures.