According to its own statements, the Munich-based personnel software provider Personio is rising to become the second most valuable start-up in Germany.
The company, which was founded in 2015 and which some time ago had reached the “unicorn” threshold of a valuation of one billion dollars, is now receiving capital from investors again and is thus worth 6.3 billion dollars.
As Personio announced on Tuesday night, the company raised $ 270 million.
Bastian Benrath
Editor in business.
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The financing round was led by the Californian venture capitalist Greenoaks Capital, which is also invested in the food delivery service Gorillas, the streaming platform Discord and the payment service Stripe, among others. With Altimeter and Alkeon Capital, two other American donors are participating in the financing round, and the existing investors around Index Ventures and Northzone also gave further money. Personio had only received $ 125 million earlier this year, most of which is still in place, according to the company.
The start-up offers software for personnel management that is particularly aimed at the needs of small and medium-sized customers.
At the same time as the financing round, Personio announced the new software category “People Workflow Automation”.
This is intended to automate all processes that are associated with hiring an employee, for example.
The financing is another success for the start-up location Munich.
The city has firmly established itself as a second start-up location in Germany alongside Berlin, thanks in part to the good dovetailing of the Technical University of Munich with technology companies such as Google and Apple.
With the company software provider Celonis, Germany’s currently most valuable start-up is also based on the Isar.
The company was last valued at around $ 11 billion.