Personio, a European HR software company for small and medium-sized businesses, has raised an additional $200m in its Series E round.
The funding brings the total capital raised through its Series E to $470m, valuing the company at $8.5bn.
Existing investor Greenoaks led the round.
Based in Munich, Berlin, Madrid, Barcelona, London, Dublin and Amsterdam, Personio’s mission is to make HR processes as transparent and efficient as possible. The company offers an all-in-one HR software that included human resources management, recruiting and payroll.
Personio said the funding will fuel the development of its People Workflow Automation solution, which is part of its vision to automate people processes across an organisation’s multiple departments and tools.
Hanno Renner, co-founder and CEO of Personio, said, “Our customers are the reason we exist and creating value for them is our first priority. We decided to raise the additional capital because we saw so many more ways to invest in our product that will increase the value we can provide.
“Those expansions will all be embedded into People Workflow Automation, which allows customers to automate workflows based on events in the employee lifecycle, from promotions and location changes to holiday requests. By continuing to focus on this strategy we expect to continue our strong growth trajectory and accelerate into 2022 and 2023, while providing customers with a great service that enhances the efficiency of their businesses.”
The company raised $125m in January this year, which saw it reach a $1.7bn valuation.
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