German startup Personio raises €35M to digitalise HR management of SMEs

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Replacing the ecosystem of exhausting paperwork and Excel sheets, Munich-based startup Personio facilitates the human resource department of small and medium-sized enterprises (SMEs) with its digital solution.

Who are the investors?

Personio has secured €35 million in a series B funding round led by Index Ventures, with participation from existing investors Northzone and Global Founders Capital. Earlier, the German startup had raised €10.5 million in series A funding in 2017 and €2.1 million in seed funding in 2016. Now, the present investment brings its total capital to €47 million.

Martin Mignot, Partner at Index Ventures stated, “Personio is tackling the recruiting and HR challenges faced by millions of SMEs across Europe who employ tens of millions of workers. We believe Personio has the potential to become the HR operating system of small businesses by helping them address all the common headaches associated with recruiting, managing and developing teams.”

Personio – efficient cloud-based HR management

Personio offers its digital solution ‘The HR Operating System’ that enables enterprises to store and manage all employee data and HR functions in single place covering attendance, leaves, approvals, payroll, employee documents, performance, reporting, and employee onboarding.

The platform transforms the recruitment process hassle-free with applicant tracking, interview scheduling, entrant assessments, and many other features.

Manages 150,000+ employees in 35+ countries

Headquartered in Munich, Personio was founded in 2015 by Hanno Renner, Roman Schumacher, Arseniy Vershinin and Ignaz Forstmeier. Notably, the core management team hails from the Center for Digital Technology Management (CDTM) in Munich, incubator for emerging startups.

With an enthusiastic team of 150 members, Personio’s HR solution platform manages more than 150,000 employees serving in over 1,000 companies across 35 countries.

Aspires to lead in Europe

Invigorated with the latest capital infusion, Personio is looking forward to expanding its team and operation. The startup is focusing to become the market leader in HR software for SMEs in Europe.  

Hanno Renner, co-founder and CEO of Personio, emphasised, “This investment further enables us to execute on our strategy and lets Personio stay on its steep growth trajectory. I am excited about the positive impact Personio has on the work lives of thousands of HR managers and their employees every day.”

Further, he added, “We will use the resources to invest into building the best product for current and future customers. In 2019, we will expand into new European markets. Our international team, which doubled in the last 12 months to 150 employees from 27 different countries, will continue to significantly grow in all functions.”

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