German HR Firm Personio Raises $40 Million From Index Ventures,Others

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Munich, Germany-based Personio, the HR company has secured a $40 million fresh investment in Series B round which was led by Index Ventures, a Switzerland-based multi-stage international venture capital firm. The latest financing saw participation from existing backers that included Northzone and Rocket Internet’s Global Founders as well.

The fresh capital takes the total amount raised by the 4-year-old company to $54.3 million. The other backers of the company include Picus Capital which invested in the Series A round and seed investment round along with Benjamin Guenther, Andreas Franz, Philipp Roesch-Schlanderer.

Started in 2015 by Arseniy Vershinin, Hanno Renner, Ignaz Forstmeier and Roman Schumacher the company aims Startups and SMEs as their customers and provide them holistic HR management and recruiting solution. The company's cloud-based solution caters to all the HR and recruitment requirements of the firms. The additional advantage of the product apart from its amazing core functionality is the ability to integrate with the third-party software. 

Through the platform with a team of 150, Personio now manages 150,000 employees serving in over 1,000 companies across 35 countries. Through the fresh funds, the firm plans to increase their team size and operations with an aim to become a market leader in the segment for SMEs across Europe.

Hanno Renner, the CEO, and co-founder of the firm commenting on the fundraising through a statement said, “This investment further enables us to execute on our strategy and lets Personio stay on its steep growth trajectory. I am excited about the positive impact Personio has on the work lives of thousands of HR managers and their employees every day.”

 

Image Courtesy : personio

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