- HiBob to integrate Mosaic’s financial tech into its platform Bob
- Acquisition aims to strengthen HR and finance alignment for 4,400 businesses
What happened: HiBob acquires Mosaic for strategic HR and financial integration
Workforce management provider HiBob has announced the acquisition of Mosaic, an AI-driven financial planning platform, for an undisclosed sum. Mosaic, founded in 2019 and based in San Diego, offers real-time financial analytics, predictive reporting, and cash forecasting powered by big data and machine learning technologies. The company had raised $26 million in Series C funding as of mid-2023, with backing from top investors like OMERS Ventures.
This acquisition marks a strategic move for HiBob, aiming to integrate Mosaic’s capabilities into its existing platform, Bob. The integration will offer real-time insights on how workforce productivity and employee engagement directly impact business outcomes. HiBob, currently serving 4,400 businesses, expects the new toolset to enhance collaboration between HR and finance teams, ultimately improving decision-making processes across departments.
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Why it’s important
This acquisition marks a significant step for HiBob in solidifying its position in the human resources and financial technology sectors. By incorporating Mosaic’s financial planning tools, HiBob is enhancing its suite of solutions, which already includes workforce planning, compensation management, payroll, and analytics. The strategic merger allows HiBob to offer a more comprehensive solution for HR teams by integrating financial data into their workforce management systems.
Mosaic’s real-time financial insights, predictive reporting, and advanced cash forecasting techniques will empower companies to make data-driven decisions that optimise both financial and workforce strategies. For users, the integration is expected to bring improved transparency between HR and finance departments, thereby fostering stronger cross-functional collaboration.
