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Reviews Personio valuation more than doubled in just one year: financing round in the nine-digit range

05:25  03 march  2021
05:25  03 march  2021 Source:   finanzen.net

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According to its own statements, the German startup Personio is now worth billions: In addition to a valuation of 1.7 billion US dollars, the HR platform received a financing round in January nine-digit range reported.

Hannelore Foerster/Getty Images © Provided by Finanz.net Hannelore Foerster / Getty Images

"They are [...] great founders, a great team, there is no great competition, they offer a wonderful product, customers are willing to pay and will pay more because Personio is constantly upgrading its offer. " With these benevolent words, Martin Mignot from Index Ventures describes the German startup Personio to the business magazine Forbes.

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financing round with revenues of 125 million US dollars According to a Personio press release,

Mignot invested in the startup on January 18th during the D financing round with Index Ventures. Index Ventures was the main investor, but the other previous investors Accel, Lightspeed Venture Partners, Northzone, Global Founders Capital and Picus also participated in the financing round. According to its own statements, Personio raised a total of 125 million US dollars in the financing round - this corresponds to almost double the amount of the last financing round (C) in January last year, in which the investors made 75 million US dollars available.

Personio: valuation of 1.7 billion US dollars in January 2021

At the time of the last financing round in early 2020, Personio was valued at 500 million US dollars - this amount has increased by 1.2 billion US dollars within one year, As Personio reports: In January of this year, the startup was valued at $ 1.7 billion.

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The startup was founded in 2015 by a group of young people from Munich and initially financed itself. In 2016, it had 40 paying customers and started the first round of financing, which raised 2.1 million euros. The income from the financing rounds has increased rapidly every year since then.

HR subscription software Personio with income for charitable purposes

In January 2020 Personio reported that regular sales from subscription income had also tripled since the previous year; in January of this year, according to the Personio press release, there was only a doubling .

Right from the start, the startup committed itself to donating one percent of its regular income and 15 percent of its own contribution to charity. Hanno Renner, co-founder and current CEO of the company, told Forbes: "All investors have to do the same: If they want to invest in Personio, they have to sign this clause". He is also working on a Personio Foundation that wants to do even more to promote education and environmental protection.

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plans for 2021: Personio wants to drive expansion

In 2020, the number of employees of the company with customers in 80 countries around the world increased from 370 to 600 - the goal for 2021 is an increase to 1,000 employees, Personio explains on its Website. New functions are also to be developed and further expanded, as the majority of investors are currently still from Europe. Renner is quoted as follows in the Personio press release from January on the subject of the corona pandemic: "While the past year has proven to be quite difficult for numerous industries and companies, it also ensured a rapid acceleration of digitization in many small and medium-sized companies . 2020 also showed the crucial role HR teams play - also because so many of us will increasingly work from home in the future. "

The specialty of Personio: As Mignot explains to Forbes, there is hardly any competition for HR programs for small and medium-sized enterprises (SMEs) with up to 2,000 employees. According to the company, the Personio concept is quick and easy to integrate and offers HR professionals excellent functions. Renner explains the success aspect of his company to Forbes: "We have developed a platform that supports [HR] in everything that has to do with their most important plant - the employees". Olga Rogler / Redaktion finanzen.net

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