Total amount raised
$724.3 Million
Latest funding date
6/1/2022
Location
Personio has successfully raised funds through seven distinct funding rounds, with the latest being a Series E round. The company has attracted a total of 21 investors, including notable names like Northzone, Accel, and Greenoaks.
Keep reading to explore the intricacies of Personio's fundraising journey and the investors backing this innovative HR platform.
What Is Personio?
Personio, based in Munich, Germany, is a comprehensive HR software platform designed for small and medium-sized enterprises. The company operates in various industries, including employment, human resources, information technology, recruiting, SaaS, and software.
Founded by a team of innovators, Personio has grown to employ between 1001 and 5000 people. The platform is trusted by over 15,000 companies for its adaptability, automation, and insightful data analytics, making it a leader in HR solutions.
How Much Funding Has Personio Raised?
- Seed Round
- Amount Raised: USD 2,100,000
- Date: July 2016
- Lead Investors: Global Founders Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the HR software and establish a market presence.
- Series A
- Amount Raised: USD 12,000,000
- Date: August 2017
- Lead Investors: Northzone
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: USD 40,000,000
- Date: January 2019
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: USD 75,000,000
- Date: January 2020
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and support international growth.
- Series D
- Amount Raised: USD 125,000,000
- Date: January 2021
- Lead Investors: Index Ventures, Meritech Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand the customer base.
- Series E (First Tranche)
- Amount Raised: EUR 233,400,000 (approx. USD 270,000,000)
- Date: October 2021
- Lead Investors: Greenoaks
- Valuation at Round: USD 6,300,000,000
- Motivation Behind the Round: To support the expansion of Personio’s People Workflow Automation system and invest in product development.
- Series E (Second Tranche)
- Amount Raised: USD 200,000,000
- Date: June 2022
- Lead Investors: Greenoaks
- Valuation at Round: USD 8,500,000,000
- Motivation Behind the Round: To continue building the customer base and enhance the platform with more automation tools.
Total Amount Raised: USD 724,100,000. Current Valuation: USD 8,500,000,000.
Key Investors
- Greenoaks Capital Partners
- Details: Greenoaks Capital Partners is a San Francisco-based global investment firm led by Neil Mehta. The firm is known for its focus on high-growth technology companies.
- Investment Focus Areas: Technology, internet, software-as-a-service (SaaS).
- Notable Investments: Robinhood, Coupang, Brex.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology and life sciences companies. The firm has offices in London, San Francisco, and Geneva.
- Investment Focus Areas: Technology, life sciences, software.
- Notable Investments: Dropbox, Slack, Robinhood.
- Accel
- Details: Accel is a venture capital firm that invests in early and growth-stage technology companies. The firm has a global presence with offices in Palo Alto, London, and Bangalore.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Facebook, Dropbox, Spotify.
- Northzone
- Details: Northzone is a venture capital firm that invests in technology companies at various stages. The firm has offices in London, New York, and Stockholm.
- Investment Focus Areas: Technology, fintech, software.
- Notable Investments: Spotify, Klarna, Trustpilot.
- Global Founders Capital
- Details: Global Founders Capital is a global venture capital firm that invests in technology and internet companies. The firm has a strong presence in Europe and the United States.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, LinkedIn, Zalando.
What's Next for Personio?
Personio stands at the cusp of significant growth opportunities, driven by the expansion of its People Workflow Automation system and the increasing demand for HR automation tools. With a robust market presence among small and mid-sized businesses, the company is well-positioned to capitalize on the growing trend towards digital transformation in HR processes.
Future fundraising efforts are likely to be bolstered by Personio's strong valuation and investor confidence. The company may pursue additional investment rounds to support product development and market expansion, potentially leading to an IPO in the coming years. Strategic acquisitions could also play a role in enhancing their technology stack and service offerings.
However, Personio may face challenges such as intense competition from other HR software providers and the need to continuously innovate to meet customer expectations. Navigating regulatory compliance across different markets and managing rapid growth will also be critical to sustaining their upward trajectory.
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