Personio, an all-in-one HR software for small- and medium-sized businesses, just announced a $200 million extension to its Series E round raised in October 2021.
Valuation reaches $8.5B
The extension round was led by Existing investor Greenoaks that backed StarkWare and Linktree. The new funding brings the total capital raised through its Series E to $470 million and values the company at $8.5 billion, which makes it a future decacorn. With this round, Personio is among the fastest growing and most valuable software startups worldwide.
The investment will turbocharge the development of People Workflow Automation, Personio’s vision to automate people processes across an organisation’s multiple departments and tools.
The investment round follows Personio’s recent acquisition of Back, an employee experience solution that automates key people processes. Back’s team brings significant experience in developing workflows that span fragmented systems, along with a specific ticketing and knowledge management service that boosts efficiency for HR teams.
Neil Mehta, Founder and Managing Partner of Greenoaks Capital: “We believe Personio is among the best SaaS companies in the world, with rapid growth, a sustainable business model, and exceptional leadership. We are thrilled to once again partner with Hanno and his team, and look forward to continuing our journey for many years to come.”
Hanno Renner, Co-Founder and CEO of Personio: “Those expansions will all be embedded into People Workflow Automation, which allows customers to automate workflows based on events in the employee lifecycle, from promotions and location changes to holiday requests. By continuing to focus on this strategy we expect to continue our strong growth trajectory and accelerate into 2022 and 2023, while providing customers with a great service that enhances the efficiency of their businesses.”
Digitises and automates people processes
Founded by Hanno Renner, Roman Schumacher, and Arseniy Vershinin in 2015 in Munich, Personio has offices in London, Dublin, Madrid, Barcelona, Berlin and Munich. It is the People Operating System for small and medium-sized companies with 10 to 2,000 employees.
The fragmentation of processes and applications leads to wasted time, delays and missed opportunities for both employers and employees alike. People Workflow Automation solves issues faced by automating people processes across all applications and teams in an organisation.
Personio is a more critical platform than ever that helps customers make their HR and payroll processes more efficient and resilient while delighting employees and employers alike. It offers SMEs recruiting, HR management and payroll support through its all-in-one HR software.
The company’s mission is to make HR processes as transparent and efficient as possible so HR can focus on what matters most: people. It does the same by offering an all-in-one HR software that includes human resources management, recruiting and payroll, enabling HR to go beyond HR. Currently, it helps over 6,000 customers across Europe to remove delays and realise opportunities.