Index leads $40m funding round for Personio

The financing was led by US-based Index Ventures and included investment from previous investors Northzone and Global Founders Capital. Index is currently investing from its $650m Index Ventures IX fund, which closed in July 2018.

The capital will be used to invest in the product and expand into new European markets. Index partner Martin Mignot will join the board following the funding round.

Previous funding
In 2016, Global Founders and Picus Capital structured a €2.1m seed funding round in exchange for a minority stake in the company.

Northzone first became involved in 2017 when it led a €10.5m series-A funding round. Global Founders and Picus also participated in this round. The capital was intended to hire software developers and integrate more partners into the service.

Personio now employs 150, up from 60 in 2017 and claims to have 1,000 clients, up from 400 in 2017.

Company
Founded in 2015 at the Center for Digital Technology Management in Munich, Personio aims to foster the digitisation of human resources departments in small and medium-sized enterprises. It offers a single software for HR processes and offers networking events.

People
Personio – Hanno Renner (co-founder, CEO).
Index Ventures – Martin Mignot (partner).

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• Topics
• Expansion
• Technology
• DACH
• Index Ventures
• Northzone
• Germany
• Venture