Personio raises $200m to further expand HR software business
Summary
It means that the Munich-headquartered company, which provides HR software to small and medium-sized businesses, is now one of the most valuable start-ups in Europe. The firm’s founder and managing partner, Neil Mehta, said that Personio’s product has become “an indispensable tool for Europe’s small and medium-sized businesses” as they bounce back from the challenges of the pandemic. “As SMEs face the possibility of economic uncertainty ahead, Personio is a more critical platform than ever, helping customers make their HR and payroll processes more efficient and resilient while delighting employees and employers alike.” Mehta added that he believes it is “among the best SaaS companies in the world”. It recently acquired Back, a Berlin-based company developing an employee experience platform that automates key people processes to boost efficiency. Commenting on the latest funding, Renner said Personio decided to raise the additional capital to invest in product expansion.
Funding
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