Personio, an all-in-one HR software platform for small- and medium-sized companies, launches its service in the UK and Ireland following a significant $75 million (approx €67.5 million) funding round.
This brings Personio’s total investment amount to $130 million (approx €117 million) since its launch in 2015. The funding round was led by Accel. Additional capital comes from Lightspeed Venture Partners, Lars Dalgaard, and other existing investors, including Index Ventures, Northzone, Global Founders Capital, and Picus Capital.
The company is planning to use this funding to grow strongly and expand into additional markets across Europe. As per the company claims, Sales of Personio’s software has almost tripled in the past twelve months, while the number of employees has more than doubled to over 350. The company is set to reach 700 employees by the end of 2020.
If you are unaware, Personia is based in Munich, Madrid, and London, Personio’s mission is to make HR processes as transparent and efficient as possible so HR can focus on the most valuable assets in the company: the people.
The Personio solution includes human resources, recruiting, and payroll and supports all core HR processes every business needs to do. More than 2,000 customers in over 40 countries use Personio.
Hanno Renner, Co-founder, and CEO of Personio, commented:
Adding Accel and Lightspeed Venture Partners, both highly experienced investors, to our list of supporters shows how much people believe in our product.
This preemptive funding comes earlier than we had anticipated. Such strong interest and support from the market demonstrate not only the value of Personio’s offer but also the huge potential the business has for further development and growth in the future.
The new funds will help support our expansion into the UK and Ireland. Businesses in these markets can take advantage of our best-in-class German engineering to automate HR admin processes and free up time for more valuable tasks. Whether it’s fintech or food delivery, SMEs across the UK will now have our full support when it comes to choosing and transitioning to Personio.
Harry Nelis, Partner at Accel, and the newest member of the Personio board, also commented:
While software entrepreneurs have traditionally overlooked developing solutions for SMEs, Personio has recognised this large and growing market of customers hungry for better solutions for their businesses. With millions of SMEs looking for improved human resource and recruitment management, Personio will lead the way. As Personio’s highly-ambitious team moves into their next stage of growth, we are excited to be part of the journey.
Main image credits: Personio
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