HiBob acquires US fintech Mosaic to integrate AI-powered financial management into HR platform
Workforce management tech provider HiBob is set to acquire Mosaic, an AI-powered financial planning and analysis platform based in San Diego, California, for an undisclosed sum.
HiBob acquires Mosaic for undisclosed sum
Mosaic’s platform provides financial planning tools for mid-market companies including real-time analytics, predictive reporting and cash forecasting using big data and machine learning technologies.
Launched in 2019, Mosaic is backed by the likes of OMERS Ventures, Founders Fund and General Catalyst, and last raised $26 million through a Series C round closed in mid-2023.
As part of the acquisition, Mosaic’s platform is now set to be integrated into HiBob’s human capital management platform, Bob.
According to HiBob, this combination is expected to provide “real-time insights into how workforce productivity and employee engagement drive business outcomes” for the 4,400 businesses currently subscribed to Bob, with the aim to foster “stronger alignment between HR and finance teams for better cross-departmental decision-making”.
Ronni Zehavi, CEO of HiBob, says that by embedding Mosaic’s tech into the Bob platform, “we’re introducing a fully integrated HR and financial planning solution that builds on our existing suite of workforce planning, compensation management, payroll, and analytics offerings”.
Recent developments to this suite include automated payroll tools – secured through HiBob’s acquisition of UK-based fintech Pento in February last year – an integrated applicant tracking system called Bob Hiring, launched in April, and an employee learning and development module called Bob Learning launched in October, which consolidates sources from LinkedIn Learning, Udemy and Go1.
