Cloud-based HRTech HiBob has raised $150 million U.S. in a Series D round of funding, giving it a $2.5 billion valuation.

This investment comes 10 months after a previous Series C round of $150 million U.S. The latest capitalization was led by General Atlantic with participation from Bessemer Venture Partners and other investors.

The human resource management startup will invest the funds to support its growth and open more offices in the next two years. HiBob also plans to pump more resources into growing its Singapore presence by making new hires and expanding product capabilities, according to Damien Andreasen, the company’s regional head for the Asia-Pacific market.

Founded in Israel in 2015, HiBob (also known as Bob) gives HR teams many of the tools needed to manage their workforce, including automating onboarding workflows for new hires, arranging timesheets and time-off approval, delivering surveys and other services.

“The competition for talent remains intense even in the midst of increasing market uncertainty. Modern businesses that value their talent know that HRIS (human resource information systems) is not simply about headcount growth, but rather about effective and proactive people management during periods of expansion and contraction,” said HiBob CEO and co-founder Ronni Zehavi.

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