Personio has closed a $40 million Series B financing round. The Munich-based startup offers an HR software solution for small and medium-sized businesses.
The technology investor Index Ventures, which has investments in companies such as Dropbox, Slack and Zendesk, is increasing its Munich HR startup Existing investors Northzone and Global Founders Capital are also participating in the round.
With this investment, the Munich-based company aims to drive the further development of its cloud-based software. According to the company, over 1,000 customers use the software for their HR and recruiting processes. A total of more than 150,000 employees and several hundred thousand applicants are already managed with Personio. The system is designed to make HR processes in companies more efficient and transparent. Hanno Renner, Co-founder and CEO of Personio, says:
"With this investment, we are able to continue our steep growth trajectory. I am pleased that we can simplify the daily work of so many HR professionals and provide real added value on the path to becoming a modern organization. We will use the investment to develop the best solution for existing and future customers."
Personio already employs 150 people
In 2019, Personio plans to expand into additional European markets, Renner says, and become the leading HR software solution for small and medium-sized businesses in Europe. He says:
“Our international team, currently comprising 150 employees from 27 nations, has more than doubled in size in the last year and will continue to grow in all areas.”
