Personio, an all-in-one HR platform for small- and medium-sized businesses, has announced $125 million of Series D funding in an investment round that values the German business at $1.7 billion. With last year’s $75 million Series C in the bank, plus the pandemic-induced rise in remote work, the software company was able to double revenues in 2020. Now with this momentum and fresh capital, Personio plans to continue its international expansion. This includes further coverage in Germany, Austria and Switzerland, while doubling down in markets that the business entered last year, such as Spain, UK & Ireland, the Nordics and Benelux. 2021 will see new markets, including France and Italy. The HR tech company aims to double its headcount from 500 to 1000 by the end of this year, adding members across its four offices in Munich, Madrid, London and Dublin, where its new international sales and engineering hub is based.
The Series D round was led by existing investor Index Ventures, which has previously supported high-profile software companies including Slack, Dropbox and Zendesk to their IPO. All of other previous backers — Accel, Lightspeed Venture Partners, Northzone, Global Founders Capital and Picus — participated as well. The only reported newcomer is Meritech, the first outside investor in Salesforce.
Photo: Co-founder and CEO Hanno Renner
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