Personio announced on January 19 that it would raise “approximately” 103.5 million euros in a series D fundraiser. The round of funding is led by its long-standing partner Index Ventures with the participation of early supporters who are Accel, Lightspeed Venture Partners, Northzone, Global Founders Capital and Picus. Meritech enters the circle of investors.
This new funding round brings the valuation of the German nugget to around 1.4 billion euros. It aims to accelerate the international expansion of the platform specializing in human resources management, a phase which follows a solid year of business growth, with turnover doubling. The start-up intends to use these new funds to become “the first human resources platform for SMEs in Europe“.
3,000 SME users
Founded in 2015 by Hanno-Renner and based in Munich, Personio has developed an all-in-one HR software dedicated to small and medium-sized businesses with between 10 and 2,000 employees. The cloud-based SaaS solution automates human resource management, including recruiting and payroll topics, focusing on the basic HR processes that all businesses need to perform.
3,000 SMEs in Europe are using the solution which, according to its designers, should become the leading HR operating system in Europe. Established in Germany, Austria and Switzerland, it intends to double its investments for the Spanish, British, Irish, Nordic and Benelux zone markets. His arrival in France and Italy is scheduled for this year. European SMEs employ 100 million people.
The company, which employs 500 people, plans to double its workforce by the end of the year. It has offices, in addition to the headquarters of Muniche, in Madrid, London and Dublin, where the sales teams and the R&D center are based. At the start of 2020, she had raised 67.6 million euros.