The financing round is led by existing investor Index Ventures, Meritech is participating for the first time as a co-lead investor, and existing investors Accel, Lightspeed Venture Partners, Northzone, Global Founders Capital and Picus are also pulling in the $ 125 million for the Series D. This also shows that the big rounds in Europe are mostly made in the USA.
The re are plans to introduce a dedicated marketplace to connect tools such as Slack, Microsoft Teams and other HR-related software solutions to your own software. After the DACh region, Spain, Great Britain, the Nordics and Benelux, France and Italy are now also to be tackled.
The number of employees is also to be doubled from the current 500 to 1,000, not only in Munich, but also in offices in Madrid, London and Dublin.
Around 3,000 customers
Around 3,000 small and medium-sized businesses are currently customers of Personio. Depending on the size of the company, you pay a monthly amount of at least 800 euros. Depending on the range of functions, this subscription fee can rise to 3,000 euros per month and more.
The accelerated digitization in 2020 has helped the company, says Hanno Renner, co-founder and CEO of Personio. “This renewed funding round comes earlier than expected as we still have capital available from our Series C round in January 2020.
The market is huge and still undersupplied; I am convinced that we are still at the very beginning of our development. ”