Salesforce (CRM) is investing in human resources software company HiBob as part of a $160 million funding round that values the startup at more than $3.2 billion, Bloomberg reported Tuesday, citing people familiar with the matter.

According to the report, Salesforce is leading the round and providing the majority of the funds, with participation from Farallon Capital Management.

HiBob plans to use the proceeds to invest in its HR software platform, explore acquisitions and expand geographically, Bloomberg reported, citing Chief Executive Officer Ronni Zehavi.

Salesforce did not immediately respond to MT Newswires' request for a comment.

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