Personio, the human resources, recruiting and payroll software company, has launched in the UK - including Northern Ireland - and Ireland.
The company, which was founded in Munich, recently secured an investment of $75 million following a successful funding round.
The new investment comes as Personio continues to grow strongly and expand into additional markets across Europe, and brings its total investment amount to $130 million since its launch in 2015.
Personio describes itself as the all-in-one HR software for small and medium-sized companies and its mission is to make HR processes as transparent and efficient as possible.
The company's software solution includes human resources, recruiting and payroll and supports all core HR processes every business needs to do. More than 2,000 customers in over 40 countries use the software to date.
In 2019, tech consultancy GP Bullhound included Personio in a list of 50 European start-ups set to achieve a billion-dollar valuation over the next two years, giving them ‘unicorn’ status.
The latest funding round was led by Accel, the global venture capital firm founded in Silicon Valley, which has backed the likes of Slack and Facebook, as well as Spotify through to their IPO and UiPath through its rapid growth.
Additional capital comes from Lightspeed Venture Partners, who have helped build companies such as Snap, AppDynamics and Mulesoft.
In addition, Lars Dalgaard, the founder and former CEO of SuccessFactors, is joining the funding round of the Munich-based platform privately. Previous investors Index Ventures, Northzone, Global Founders Capital, and Picus Capital also participated in the round.
“Adding Accel and Lightspeed Venture Partners, both highly experienced investors, to our list of supporters shows how much people believe in our product," said Hanno Renner, Co-founder and CEO of Personio. "This preemptive funding comes earlier than we had anticipated. Such strong interest and support from the market demonstrates not only the value of Personio’s offer, but also the huge potential the business has for further development and growth in the future.
"The new funds will help support our expansion into the UK and Ireland. Businesses in these markets can take advantage of our best-in-class German engineering to automate HR admin processes and free up time for more valuable tasks.
"Whether it’s fintech or food delivery, SMEs across the UK will now have our full support when it comes to choosing and transitioning to Personio.”
The additional capital will help support Personio’s entry into the UK and Ireland with the opening of an additional office in Borough, London.
Source: Written based on press release.
