Munich-based startup Personio, an HR and recruiting platform that allows companies to digitise all HR processes acoss the employee life-cycle, has raised €35 million in a Series B round. The round was led by Index Ventures, with participation from existing investors Northzone and Global Founders Capital. Personio previously raised a €10.5 million Series A round in 2017, and we featured it as one of the 10 European startups with the potential to disrupt the HR industry in 2018.
Founded in 2015, Personio targets SMEs, and has more than 1,000 clients in 35 countries already using its platform for their HR and recruiting processes. In total, Personio manages over 150,000 employees, along with several hundred thousand applicants.
Despite the market potential of 1.7 million SMEs in Europe, most of them still use outdated, non-digital or fragmented systems to manage their employees. By contrast, Personio’s cloud-based product “The HR operating system” lets HR managers store, process, and manage all employee data through one solution. Personio’s workflow automation enables HR managers to save time on administrative tasks while staying on top of critical ones, allowing HR teams to operate more efficiently, transparently and effortlessly. While the software covers all core HR processes, including recruiting, absences, and payroll, it also integrates with other solutions to serve customers with specific needs.
Hanno Renner, co-founder and CEO of Personio, said: “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. 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.”
Martin Mignot, Partner at Index Ventures who is now joining Personio’s board, commented: “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.”