Personio Raises $200 Million at $8.5 Billion Valuation

Personio is a start-up that provides startups, and small- and medium-sized enterprises with software for human resource management and recruiting solutions. The service gathers all the information about the recruitment process, salary, vacation, and sick days, as well as employees’ documents and reports on the cloud. Personio’s mission is to enable HR managers to focus on the most valuable source – people by making HR processes transparent and efficient.

The funding round was led by Greenoaks Capital Management which was also a lead investor in the recent round in October 2021 at a valuation of $6.3 billion. As of now, Personio plans to focus only on organic growth, the money raised will support it as well as new acquisitions. “As long as our customers employ people who need to be paid, for example, and who take a vacation, our software remains in use,” Hanno Renner, Personio’s CEO.

Personio, Munich, Germany, was founded by Hanno Renner, Arseniy Vershinin, Ignaz Forstmeier, and Roman Schumacher in 2015. As of now, the company has 6000 customers, small and medium-sized companies. The main Personio focus is on speeding up the HR processes in the enterprises. Moreover, this service allows streamlining automation with such companies as Slack, Salesforce, and Microsoft Teams. “We had the feeling that now was a good time with everything going on to prop up our balance sheet and be able to continue to make sensible investments over the coming years and be able to make the right decisions for the business,” Hanno Renner. Now, Personio is one of the most valuable startups in Germany after Celonis, a process mining software company, and N26, a digital bank.

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