Munich-based startup Personio raises USD 75 million
Munich — In a Series C financing round, Munich-based startup Personio raised $75 million. This brings the total investment volume of the company, which was only founded in 2015, to $130 million. Since the new investment, the company has been valued at a total of $500 million — halfway to becoming a unicorn.
The financing round was announced back in December, and has now been completed. Leading this Series C round is Accel, an international investor with roots in Silicon Valley. Accel has already invested in companies such as Slack and Facebook and helped streaming service Spotify go public.
In addition to Accel, Lightspeed Venture Partners and Lars Dalgaard are also joining the HR software provider. Dalgaard is the founder and CEO of Successfactors. He sold his cloud-based HR software to SAP in 2011 for $3.4 billion, but he is going private with Personio. The Munich-based startup’s previous backers, Index Ventures, Northzone, Global Founders Capital and Pius Capital, also participated again in the funding round.
Demand from the investor side was high
Actually, a new financing round had been planned for a much later date, Hanno Renner (photo), CEO and co-founder of Personio, announced. The investment was only made because of the high demand from investors. However, he is very pleased to know that the financing round has brought other such experienced partners to the startup’s side.
The investment is primarily intended to further the international expansion of the software provider. Currently, Personio has nearly 2,000 customers in over 40 countries, according to the company. The company plans to have 700 employees at three sites by 2020.