Personio, a leading provider of comprehensive human resource (HR) software for midsized businesses, has just announced that the company has closed a successful Series D funding round. This new financing round will provide the company with additional capital to help accelerate its growth and expansion.
Latest investor General Atlantic and previous investors Balderton Capital, Index Ventures and Accel led the €85M funding raised during the Series D round. Alongside this injection of funds into Personio, many key figures from Europe’s tech industry have also invested in the company including SV Angel, Sound Ventures, Eduardo Saverin (co-founder of Facebook), and Vulcan Capital.
This impressive line up of investors is testament to Personio’s success and potential to revolutionize HR software for modern businesses. Personio seeks to provide a unified platform to automate HR processes while helping midsized businesses scale faster with a clear focus on user experience.
Personio announces $125M in Series D funding and a $1.7B valuation as it builds Europe’s leading HR platform for SMEs
Personio, the leading provider of a cloud-based HR platform for SMEs, announced its Series D funding of $125 million, at a valuation of $1.7 billion.
This infusion of funds is expected to drive the company’s growth and ambition to become Europe’s leading HR platform.
This article will provide an overview of the company and an insight into the investment.
Personio’s Series D Funding
Personio, a Munich-based provider of human resources (HR) software for small and midsize companies, announced it has closed a Series D funding round of $125 million. In addition to bringing total funding for Personio to $210 million since its founding in 2015, this new round is backed by many strategic investors.
The Series D funding will help Personio accelerate its growth into the European and international HR market. The company’s SaaS platform covers the entire employee lifecycle and is specifically tailored to meet the needs of small and midsize enterprises. Employers use Personio to manage tasks such as onboarding, payroll and performance analysis— all from one integrated system.
Personio was founded in Munich in 2015 by Tobias Buxhoidt, Hanno Renner, and Immad Akhund. Since 2019, the company has been led by CEO and Co-Founder Tobias Buxhoidt who will continue driving forward his vision of making HR processes more efficient.
Personio has now established itself as a global HR platform with operations in 7 countries (U.K., Germany, Austria, France Switzerland, Ireland). The company currently employs more than 500 people across four continents.
Personio’s $1.7B Valuation
Personio, a Munich-based HR software company, has secured Series D funding at a $1.7 billion valuation. The financing round was led by funds and accounts advised by T Rowe Price Associates with participation from existing investors Accel, Index Ventures, and Atomico as well as new investor Canada Pension Plan Investment Board (CPPIB).
The funding brings Personio’s total funds raised to over $300 million since it was founded in 2015. It comes after the company reported strong growth in the past year due to strong market demand for their HR management software.
Personio provides an integrated suite of tools that help businesses manage employee onboarding, payroll processing, performance appraisal and compensation analysis, and other human resources and recruiting management tasks.
With this new capital infusion, Personio plans on accelerating its growth across Europe and continue expanding its product offerings to provide businesses with innovative HR technology solutions to facilitate all aspects of human resources including compensation analysis, succession planning and time tracking. In addition, the company has plans to expand into North America as part of their growth strategy.
Personio’s Goal of Becoming Europe’s Leading HR Platform for SMEs
Personio raised €75 million in a Series D funding round led by PayPal Ventures and Tiger Global Management, with existing investors Accel, VC Next Phase and Project A also participating. The new San Francisco-based investor had 18 funds close in the last 24 months across Europe. Personio will use the funds to accelerate its ambition of becoming Europe’s leading HR platform, empowering SMEs to build successful companies through improved people operations.
Personio has experienced rapid growth since inception in 2015. The company today serves more than 5,800 customers with 98 team members in offices across Munich, London, Madrid and Lisbon. It has grown more than sevenfold in 2020 alone and aims to double its customer base within the next 12-months.
Personio’s solutions enable SMEs to improve their work processes related to personnel and talent management—with an all-in-one platform for recruiting & onboarding, HR & payroll administration, time tracking & employee data analytics. In addition, its unified booking tool allows managers a full overview of their workforce’s availability—as well as automated capacity planning, leave management and job applications—all from one centralized platform, enabling users to make informed decisions based on relevant data insights from personnel trends.
The cloud-based Human Resources software suite helps businesses of all sizes successfully manage payroll administrators and provide real-time reporting about workforce availability—including notable features like shift-swapping between employees as well as automated alerts when policies are violated or deadlines are missed—enabling companies to focus less on administrative tasks such as managing scheduling conflicts or day off requests while empowering them with valuable data insights they can use for growth initiatives such as recruiting more talent or improving operational efficiency.
Impact
Personio’s Series D funding will greatly impact the company’s future growth. The €75 million raised will help the company scale its product capabilities, international expansion, and hiring ambitions across Europe and beyond.
To become the leading HR tech platform in Europe within the next five years, Personio can use the injection of capital to accelerate its ambitious plans for international expansion while continuing to add core functionalities to its platform. Additionally, this funding round will undoubtedly make Personio an attractive recruitment target for other companies looking to get into HR tech or expand their presence within Europe.
Overall, this Series D funding round means business owners worldwide can benefit from Personio’s HR software as it becomes an even more comprehensive solution. Furthermore, entrepreneurs considering partnering with a “scalable HR software provider” could potentially find a perfect fit in Personio as it grows and diversifies its operations abroad.
Benefits
Personio’s Series D funding round is another testament to the strength of the company and its ability to create a powerful HR platform tailored to small and medium enterprises. The $125 million investment and a $1.7 billion valuation will help the company accelerate its growth as it expands into new markets.
The funding will also help Personio boost its customer-centric approach and expand its feature-rich product portfolio. Next, we will take a closer look at the potential benefits of this new funding.
Personio’s Ability to Accelerate Growth
Personio’s recent Series D funding round of $125 million underscores the company’s potential to deliver significant growth in the HR and payroll space.
The Munich-based company, founded in 2015, offers all-in-one HR solutions. It enables businesses to save time and money sharing vital employee information while automatically regulating payroll tax, holidays and other perks through its cloud platform. This ease of paying attention to administrative details has seen Personio become one of Europe’s fastest-growing SaaS companies.
The Series D funds will accelerate the company’s growth by providing a larger engineering team to improve the system’s scalability and capabilities. This will allow web labs in more countries outside EU so companies now have access to localized versions. Additionally, funds will be allocated for marketing purposes and reinvesting further into research and development team to explore machine learning and AI capabilities.
Personio is proving it has the potiential to revolutionize how global businesses manage their workforce — from onboarding new employees, handling major life events like parenthood or retirement, and simplifying offboarding processes such as notifying authorities when transferring employees abroad — all presented within one controlled interface.
Having already established partnerships with large enterprises such as UberEats, TestBirds, Catawiki, Takeaway , Personio is strengthening its position even further for global expansion opportunities beyond Europe which this fund raise enables.
Personio’s Ability to Expand into Additional Markets
Personio’s Series D funding will not only enable the company to accelerate growth, but also allow it to expand into additional markets. The company operates in Europe from its headquarters in Munich, Germany and has recently started expanding into the United Kingdom, Ireland and Spain.
Personio is one of a few HR technology startups that exists today. This funding is expected to help them continue their growth into these new markets and move into other countries across Europe.
The Series D funding bolsters both their finance team and product development teams, enhancing Personio’s ability to continue growing its business throughout longtime human resources industry veteran’s experience with global clients will be highly beneficial as they continue to innovate and explore more offerings within HR technology space to meet customer needs.
These developments are seen by the company’s internal team members and its investors externally as a testament to their long-term commitment to revolutionize HR technology for businesses worldwide.
Conclusion
Personio, having raised €75 million in Series D funding, is now well-positioned to accelerate its growth while taking advantage of opportunities across Europe and beyond. The company aims to provide a comprehensive HR technology platform, including integrated payroll, analytics, and recruiting solutions as it moves into the next exciting phase of expansion.
Given the market opportunity, Personio’s Series D financing demonstrates that investors are confident in the company’s technology and growth prospects. With this additional funding, Personio can build on its proven success and solidify its position among leading players in HR technology.