Personio raises $200m in second Series E

This week, the European-based HR software firm Personio announced a second closing of a preemptive Series E round of funding, worth $200 million. Personio’s first Series E was in October 2021 and raised $270 million. 

As a result of this latest influx of funding, it has raised a total of $470 million, which brings its value to $8.5 billion.

The most recent found of funding was led by Greenoaks Capital, an investment firm focused on long-term investments in technologically-focused companies. 

Greenoaks sees Personio as a long-term investment prospect; founder and managing partner of Greenoaks Capital, Neil Mehta said: “We believe Personio is among the best software as a service (SaaS) companies in the world, with rapid growth, a sustainable business model, and exceptional leadership. We are thrilled to once again partner with Hanno Renner, co-founder and CEO of Personio, and his team, and look forward to continuing our journey for many years to come.

Personio is a German HR software startup, which has expanded throughout much of the European continent. The company now has offices in Munich, Berlin, Madrid, Barcelona, London, Dublin, and Amsterdam. 

Its clients include Spendesk, Premier Inn, Mindful Chef, Engel and Volkers, as well as non-governmental organizations such as Stonewall and Viva Con Agua.  

The purpose of the funding

The company has big plans for its latest cash injection. 

This round of Series E funding will allow Personio to further develop People Workflow Automation, a tech solution that merges the functions of an organization’s applications across platforms protects data, and scales workflow configurations. 

Personio claims that this technology will make HR processes much more efficient by automating data updates and time-consuming manual HR tasks. 

According to Renner, CEO of Personio, “those expansions will all be embedded into People Workflow Automation, which allows customers to automate workflows based on events in the employee lifecycle, from promotions and location changes to holiday requests.” 

Next Steps for Personio

Personio also announced last month an expansion of its offices to Berlin and Barcelona, in tandem with its new Performance and Development Solution, a software that ensures corporations are taking care of their employees’ wellbeing.

Personio also just acquired Back, another automation technology that reduces the manual effort for key people processes in HR. 

Watch this space, Personio looks set for further growth in the coming years.