Updated Tuesday, October 12, 2021 – 12:19
With a new round of financing of 230 million euros, the German-born startup stands out as the most valued unicorn in Europe in the human resources sector
Hanno Renner, CEO and founder of Personio.ANTONIO HEREDIA
Personio, a startup of German origin that serves human resources solutions to SMEs in Spain, has raised a financing round of 270 million dollars (230 million euros), so its value shoots up to 6,300 million dollars ( 5,440 million euros).
Thus, the category of unicorn (startup that exceeds a billion dollars) has become too small for this fledgling technology company, dedicated to human resources, dedicated to various tasks from hiring staff to controlling schedules and vacations. . The new investment round is linked to another one from this year and dating from January; Between the two openings to investors, Personio has raised more than 500 million dollars (430 million euros) and has established itself as the highest valued human resources technology project in Europe.
This latest round of funding has given entry into the startup to Greenoaks Capital Partners, where Altimeter and Alkeon Capital participate. These funds credit a strong presence in software companies, for example UiPath, Hubspot, Stripe or Snowflake. Personio’s current investors (Index Ventures, Accel, Meritech, Lightspeed, Northzone and Global Founders Capital) remain interested and have invested again to avoid any dilution in the project.
“Personio has proven that it is a sustainable and resilient business that can not only retain revenue and guarantee low turnover, but can even grow in tough economic conditions. In addition, currently we only serve 0.3% of the market of 1.7 million European SMEs with between 10 and 2,000 employees“Explains about his forecasts Hanno Renner, co-founder and CEO of Personio and contacted by EL MUNDO. Renner has already explained in Actualidad Econmica, this newspaper’s magazine, his interest in this market:” Spain is the first market to which we came and we have more than a hundred clients, such as Domino’s Pizza, Habitissimo, Bipicar, Euromed, Mr. Wonderful, the Samaipata fund …“.
“Small businesses are the backbone of the European economy, but they have long seen how legacy outdated structures They have not considered many of their needs or offered the service they needed. Personio democratizes the capabilities of companies and helps them take a leap in their productivity “, said Neil Mehta, founder and managing partner of Greenoaks:” We are fortunate to be partners with many of the leading private companies in technology throughout the world. world and I am sure that the mission of Personio’s team has just begun. “
The pandemic has extended the digitization of companies, although even before the outbreak of the coronavirus crisis, Personio had channeled the hiring of more than 80,000 workers around the world. Now Cwith standard teleworking, there are many virtual hiring, ERTE management and time controls, among other tools. Personio has framed the communication of this new round of financing (and the associated valuation) with the launch of People Workflow Automation, a new category of software for SMEs.
According to the criteria of
The Trust Project Learn more