Personio, Europe’s leading HR software company for small and mid-sized businesses, today announced People Workflow Automation, a new category of software. SMEs will now be able to transform manual and fragmented people processes into automated workflows that span across the entire organization and all its applications, removing painful delays and helping to realize opportunities. Tied to its vision for the new category, Personio has raised pre-emptive Series E funding of €233.4 million, valuing the company at €5.45 billion.
The Series E funding adds to significant reserves from Personio’s last funding round in January 2021, bringing the total capital raised to over €432 million. The fresh capital allows Personio to evolve its product to lead the People Workflow Automation category and continue to execute its long-term oriented strategy, focused on the needs of its customers.
The latest funding round was led by Greenoaks Capital Partners, with participation from Altimeter Capital and Alkeon. These three funds are united by their strategy of investing in category-leading companies across their public and private journeys, for the long term. Their portfolios include notable software companies such as UiPath, Hubspot, Stripe and Snowflake. Personio’s existing investors (Index Ventures, Accel, Meritech, Lightspeed, Northzone and Global Founders Capital) all also invested again in this Series E funding round.
Hanno Renner, Co-founder and CEO Personio, stated: “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.”
People Workflow Automation by Personio aims to solve this by automating people processes across all applications and teams in an organisation. Changes such as terminations, team changes, promotions, location changes and sick leave requests happen frequently at any organization. Each triggers a workflow Personio can help streamline, avoiding those painful delays that lead to missed opportunities, while also freeing up time for HR teams, managers and employees. HR teams can easily manage issues that in the past would have involved manual tasks across multiple departments.
Full Article:- EU-Startups
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Edited by:- Shafique Fakih (Mainstage Hub)