HRtech Personio raises $125M at a valuation of $1.7B
The Germany-based startup Personio has received $125 million in a Series D funding round at a valuation of $1.7 billion. The round was co-led by existing investor Index Ventures and new one Meritech Capital. Previous backers Accel, Lightspeed Venture Partners, Northzone, Global Founders Capital and Picus also participated.
Founded in 2015 in Munich, Personio offers cloud-based HR management and recruiting solutions and software for startups, and small- and medium-sized enterprises. The company enables its customers to store and manage all employee data and HR processes in one place, including vacation and sick days, approvals, salary, attendance, employee documents, performance, reporting, and employee on-boarding.
The startup wants to use the capital to continue expansion into new European markets, such as France and Italy. Personio is also planning to invest the proceeds into its further growth on the recently-entered markets – Spain, UK, Nordics, Benelux, and in acquiring more customers in the DACH region. Besides, HR tech will develop its existing software offering used by more than 2,500 customers worldwide to cover more HR processes.