Personio raises $200 million

After an extended Series E round, the start-up is now worth 8.5 billion US dollars.

Personio receives 200 million US dollars after a second Series E financing round. This brings the total capital Personio has received through the Series E to 470 million US dollars, resulting in a valuation of 8.5 billion US dollars. The existing investor Greenoaks, which led this round, is also involved in the new financing round.

Personio intends to use the new capital to work on HR software that will give companies more security. Hanno Renner, CEO and co-founder of Personio, says: "These enhancements will all be embedded in People Workflow Automation, which enables customers to automate workflows based on events in the employee lifecycle, from promotions and relocations to vacation requests."

Neil Mehta, Founder and Managing Partner of Greenoaks Capital, comments on Personio's software: "Personio's product has become an indispensable tool for small and medium-sized companies in Europe that have recovered from the challenges of the pandemic." Customers are already using over 100 integrated apps and APIs as well as new workflow automation and monitoring functions. This reduces the administrative burden in areas such as recruitment, data analysis and time recording.