Personio's figures for 2019: turnover doubled, loss tripled

The new German unicorn Personio publishes figures for 2019: it doubled its turnover - but its losses tripled. This is also due to investments.

The HR start-up Personio achieved unicorn status just a few days ago, and now the Munich-based company has published its figures for the 2019 financial year in the Federal Gazette. According to the figures, Personio generated revenue of 9.3 million euros in 2019, compared to 4.6 million euros in 2018, which is around half the amount.

By contrast, the loss tripled from 5.1 million euros in the 2018 financial year to 17.95 million euros in 2019. This is also due to investments in personnel and marketing: 98 new hires caused personnel costs to rise by 150%. Personio invested more than nine million euros in marketing and sales, over 200% more than in 2018.

Since 2015, Personio has been a provider of HR software that manages the entire HR administration process, from payroll accounting to recruiting, all in one. According to the company, over 3,000 customers use the service and the company has 600 employees at four locations. At the beginning of the year, founder and CEO Hanno Renner announced that Personio should have 1,000 employees by the end of 2021. He also announced that he is aiming to float his start-up on the stock market in the near future.