HR software platform Personio has reached a $1.7bn valuation following the close of a $125m funding round.
The capital injection was led by previous backer Index Ventures, with contributions also coming from Accel, Lightspeed Venture Partners, Northzone, Global Founders Capital, Picus and Meritech Capital.
This equity will be used to drive the FinTech’s expansion across Europe and further develop its existing software.
Its roadmap for 2021 includes releasing tools to cover more HR processes and launching new features for its Personio Marketplace to let customers automate workflows across tools like Slack, Microsoft Teams, and other HR-related software solutions.
The FinTech is planning to further growth in the DACH region, Spain, UK, Nordics and the Benelux region, as well as entering France and Italy. Finally, the company hopes to increase its number of employees from 500 to 1,000 across its offices in Munich, Madrid, London and Dublin.
Personio offers a suite of HR tools, including payroll, onboarding absence management, attendance tracking, applicant tracking, workflow management and more.
While 2020 was a tough year for many, Personia says the “true potential of HR was realized.”
Personio CEO Hanno Renner said, “HR offers an emphasis on people that leads to corporate success. When companies give their HR departments the freedom to work strategically, only then can they be truly successful. For this to work, we need to truly rethink the way HR is done.”
The company raised $75m its Series C in 2020.
Since the company was founder, it has raised $250m in total equity.
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