In France, e-health players continue to make progress. Bpifrance, the public investment bank, has just injected €20 million in equity into Hublo, a publisher of an HR platform dedicated to healthcare facilities. The experts at AURIS Finance, a mergers and acquisitions advisory firm, analyze this new market move.
Tech at the service of caregivers
Founded in 2016, Hublo was built around a simple idea: to streamline staff replacements in hospitals, clinics, and medico-social institutions by automating administrative processes and facilitating internal communication. To achieve this, the company developed a SaaS platform specializing in managing staff replacements and scheduling for healthcare professionals. Ten years later, Hublo has become a leader in the hospital sector, boasting 5,600 partner institutions and 1.2 million registered healthcare professionals. With a subscription-based business model, the group aims to reach €30 million in revenue by the end of 2025 (up from €22 million at the end of 2024) and plans to maintain strong organic growth of around 40% per year.
Supporting growth
From startup to scale-up, Hublo has evolved into a company with proven technology poised to scale. To do so, the group—seeking financial support—turned to Bpifrance. The public investment bank injected €20 million through its “Mid Cap Equity” branch, a fund dedicated to profitable SMEs and mid-cap companies with high potential. Bpifrance has become a shareholder in the scale-up. This investment provides Hublo with new room to grow while avoiding excessive debt. It is worth noting that Bpifrance’s entry into Hublo’s capital follows a broader context: in June 2025, Hublo had already completed a leveraged buyout (LBO) with the investment firm Five Arrows (the private equity arm of Rothschild & Co), which acquired a slight majority stake. That transaction valued the group between €200 and €300 million. Bpifrance’s investment further strengthens Hublo’s equity base.
European ambitions
With the backing of its shareholders, Hublo is now setting its sights on Europe, in line with its strategic goal of accelerating the international deployment of its platform. Already present in Germany, Belgium, Spain, and Switzerland, the company plans to intensify its presence through external growth operations. The commercial team will also be expanded. Hublo aims to become the European reference for managing staff replacements and HR scheduling in the healthcare sector. Some of the funds will also be allocated to R&D to enhance the product offering through the use of artificial intelligence, enabling better optimization of schedules and improved tracking of internal mobility for caregivers.
Our experts by your side
Hublo is a scale-up with an offering that addresses several major challenges: the digitalization of healthcare facilities and the need to track caregiver mobility in a context of talent shortages. Bpifrance’s investment marks a real turning point for the company, enabling it to expand beyond France’s borders. The experts at AURIS Finance specialize by sector. We stand by your side to support you in your strategic decisions.
