Munich-based HR software for SME’s Personio has raised $270 million in a Series E round at $6.3 billion valuation. The raise arrives in conjunction with Personio’s announcement of a new product launch, People Workflow Automation, which capitalises on the features we’ve seen growing from a number of smaller HR techs, namely that of the automation of tedious previously manual tasks associated with the HR department.
“This investment highlights the continued fast growth of the business and the immense market potential, but also the belief in our vision for the future of HR tech. While I consider this funding a major milestone, we are still at the very beginning of our journey,” commented co-founder and CEO Hanno Renner. “Now we want to help HR teams go beyond HR. Launching the People Workflow Automation category is a big step forward along this path, serving the most important asset of any business, its people. We are excited to see Europe’s SMEs thrive as they make use of this technology.”
We sat down with Hanno back in July to get his thoughts about scaling up in Europe.