Personio raises $75M Series C led by Accel

Human resources, recruiting and payroll platform Personio has announced its launch in the UK and Ireland following a significant $75 million Series C funding round.

This brings Personio’s total investment amount to $130 million, since its launch in 2015. With Accel and Lightspeed, Personio secures the backing of two more top international VCs.

The 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.

Accel’s distinguished reputation and track record of successful investments make them a strong addition to Personio’s current partners.

Additional capital comes from Lightspeed Venture Partners, who have helped build many category defining 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. 

Hanno Renner, Co-founder and CEO of Personio, commented: “Adding Accel and Lightspeed Venture Partners, both highly experienced investors, to our list of supporters shows how much people believe in our product. 

“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. 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.”

Harry Nelis, Partner at Accel, and the newest member of the Personio board, also commented: “While software entrepreneurs have traditionally overlooked developing solutions for SMEs, Personio has recognised this large and growing market of customers hungry for better solutions for their businesses.

“As Personio’s highly-ambitious team moves into their next stage of growth, we are excited to be part of the journey.”

Lars Dalgaard, Founder of SAP SuccessFactors, added: “Having had the chance to meet and work with Hanno and his team over the past few months, it’s remarkable to see how they’ve built a fast growing company and a great product, both with relentless focus on the customer. Working with Personio as they now bring that value to small and mid-sized companies across Europe is an exciting prospect, and I’m happy to be part of the team and support them on their mission.”

The additional capital will help support Personio’s entry into the UK and Ireland with the opening of an additional office in Borough, London, and the company is set to reach 700 employees by the end of 2020.