Personio, the German HR-management and recruiting platform based in Munich, has raised €10.5 million in a Series A funding led by the VC firm Northzone and joined by former investors Global Founders Capital and Picus Capital. With the fresh capital Personio will push its SaaS-product and establish itself as Europe’s leading software in Human Resources for small and middle-sized companies.
Northzone is an experienced investor that also supports companies as Spotify, Klarna and Trustpilot and with the funding of Personio is now broadening its activities in the branch of Human Resources Technology.
Hanno Renner, founder and CEO of Personio stated: “This invest guarantees a solid growth strategy. We still focus on the enhancement of our product to provide our present and future clients the best possible solution.”
At the moment, over 400 clients are using Personio to manage all their HR and recruiting processes, get a better overview of their personnel and safe a lot of time by the first-hand service.
Michiel Kotting, Partner at VC Northzone said: “With their innovative, one-stop solution for talent acquisition, HR administration, and employee retention, Personio is a game-changer in the HR solutions market for small and medium enterprises in Europe. In a market that has a global value of $ 14 billion, HR teams of SMEs are still served by outdated and disparate systems. Personio changes all of that. We have been hugely impressed with what Hanno and the team have achieved since their launch in 2015, and believe they are in a strong position build the category leadership in the space.”
In the future Personio will be offering further solutions around its HR-operating system that are incorporating the branches recruiting, administration and development of staff. Customers from over 30 countries are using Personio already but the focus over the next years is on the expansion in Europe.
The goal of Personio is, to become the central platform for human resources management that is bundling all digital HR-processes, e.g. payroll accounting or continuous feedback within one software solution. Ultimately HR-responsibles will be spending less time with administrative tasks and thereby can focus more on valuable personnel work.
