Personio increases its company valuation to €8.1 billion ($8.5 billion) with the additional financing. Existing investor Greenoaks is leading the round. The fresh capital will be used to further develop the software solution for automating HR processes. Munich companies already has more than 6,000 corporate customers with over 500,000 employees. Hanno Renner, Co-founder and CEO of Personio, says:
"Our customers are the reason for everything we do. Creating sustainable value for them therefore remains our top priority. We decided on this additional round of financing because we see many further opportunities to invest in our product to provide companies with even greater value. All product enhancements will be integrated into People Workflow Automation, allowing our customers to automate any work process along the employee lifecycle – from promotions and relocations to vacation requests. By continuing to focus strongly on this strategy, we expect to continue our strong growth trajectory and accelerate even further in 2022 and 2023. Our primary focus is always to provide our customers with excellent service that makes their companies more efficient."
“We believe Personio is one of the world’s best SaaS companies”
Neil Mehta, Founder and Managing Partner of Greenoaks Capital, says:
"Personio's product has become an indispensable tool for small and medium-sized businesses in Europe recovering from the challenges of the pandemic. Given the potential economic uncertainties facing SMEs, Personio's platform is more important than ever, helping customers make their HR processes more efficient and resilient while delighting employees and employers alike. We believe Personio, with its rapid growth, sustainable business model, and exceptional leadership team, is among the world's best SaaS companies. We are very excited to continue working with Hanno and his team and continue our journey together for many years to come."
