The Series E funding brings Personio to a $6.3B valuation. Here are the top-line bullets you need to know.
Personio, an HR tech company, has raised $270M in a Series E. The round drew participation from Accel, Alkeon Capital Management, Index Ventures, and Northzone Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Germany-based Personio integrates payroll, absence tracking, recruitment, and performance reviews into a single cloud-enabled software platform for small and medium-sized businesses (SMBs).
- The company has expanded its customer base from 3,000 to 5,000 since January. Its clients are Spendesk, Tractable, GoSpooky, and Avetta, among others.
- It has 1,000 employees spread across its offices in Munich, London, Madrid, Dublin, and Amsterdam.
WHY DOES THE MARKET MATTER?
- The global HR software market is expected to grow at a CAGR of 10.08% and reach a value of $33.58B by 2028, according to Verified Market Research.
- The increasing adoption of cloud-based workforce management solutions across verticals by businesses of all sizes amid the pandemic has resulted in market growth.