Only nine months after its last funding round, Personio has raised $270 million in a Series E. This brings its total funding to $500 million and value to $6.3 billion.
The investment was led by Greenoaks Capital Partners, Altimeter Capital and Alkeon. Personio’s existing investors, including Global Founders Capital, Meritech and Accel, also participated in the round.
At the same time as announcing this funding round, Personio also launched a new product category called People Workflow Automation aimed specifically at small and medium-sized businesses (SMEs).
Talking about both announcements, CEO and co-founder Hanno Renner noted: “This investment highlights the continued fast growth of the business and the immense market potential, but also the belief in our vision for the future of HR tech.
“While I consider this funding a major milestone, we are still at the very beginning of our journey. Now we want to help HR teams go beyond HR.
“Launching the People Workflow Automation category is a big step forward along this path, serving the most important asset of any business, its people. We are excited to see Europe’s SMEs thrive as they make use of this technology.”
Greenoaks managing partner and founder Neil Mehta added: “While small businesses are the backbone of the European economy, they have been underserved and overlooked by legacy players for too long.
“Personio democratizes enterprise capabilities and delivers a step change in productivity, simplifying HR workflows across the full employee lifecycle.
Spotlight on People Workflow Automation
Renner also discussed the new product category, People Workflow Automation, at Personio’s HUG conference keynote on Tuesday morning.
He explained that the product, which Personio has been working on for 12 months, will help “enable HR to go beyond HR” and is central to the company’s vision for the future for the entire HR software space.
The tech helps small companies to automate and streamline all fragmented their HR tech tools and workflows.
This means they won’t miss out on a great hire or employee productivity. It also means that when employees resign their accounts will be automatically disabled so that companies can better protect their intellectual property.
As well as launching this new product category, Personio used the HUG conference to share other news around integrations, which have doubled from 35 to 72. Notable examples include Slack and Microsoft Teams, as well as Okta.
The next thing on the agenda for Personio is the release of Global Task Management, which is one centralized inbox for tasks and includes prioritization so employees and managers can focus on the most important tasks.