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 funding round. This brings the total capital Personio has received through Series E to US$470 million, resulting in a valuation of US$8.5 billion. The new funding round also includes existing investor Greenoaks, which led the round.

With the new capital, Personio wants to work on HR software that will give companies more security. According to Hanno Renner, CEO and co-founder of Personio, "These enhancements will all be embedded in People Workflow Automation, which allows customers to automate workflows based on events in the employee lifecycle, from promotions and location changes to leave requests."

Neil Mehta, founder and managing partner of Greenoaks Capital, commented on Personio's software, "Personio's product has become an indispensable tool for small and medium-sized businesses in Europe recovering from the challenges of the pandemic." Already, he said, customers are taking advantage of more than 100 integrated apps and APIs, as well as new workflow automation and monitoring features. This reduces administrative overhead in areas such as hiring, data analysis and time tracking.