Home Business NewsBusinessBusiness Growth News Yacht skipper turned CEO raises $75m for HR Tech start-up

Yacht skipper turned CEO raises $75m for HR Tech start-up

by Peter Smyth Tech Journalist
22nd Jan 20 5:59 am

On Tuesday Personio, the human resources, recruiting and payroll platform, launches in the UK and Ireland following a significant $75m funding round. This brings Personio’s total investment amount to $130m, 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 said, “Adding Accel and Lightspeed Venture Partners, both highly experienced investors, to our list of supporters shows how much people believe in our product.

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.”

Harry Nelis, Partner at Accel, and the newest member of the Personio board said, “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. With millions of SMEs looking for improved human resource and recruitment management, Personio will lead the way. As Personio’s highly-ambitious team moves into their next stage of growth, we are excited to be part of the journey.”

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