Personio raises $125M on a $1.7B valuation for an HR platform targeting SMEs – TechCrunch
Personio — the German startup that targets small and medium-sized businesses (10-2,000 employees) with an all-in-one HR platform covering recruiting and onboarding, payroll, absence tracking and other major HR functions — has picked up $125 million in funding at a $1.7 billion post-money valuation. Personio currently counts some 3,000 SMEs in Europe as customers. Although SMEs can be a notoriously challenging customer segment, Renner said that a new opportunity has emerged: a new wave of people in the SME sector have started to realise the value of having a modern and integrated HR platform. “We started Personio in 2016 wanting to become the leading HR platform for mid-market companies, and we knew it could be a great company, but we realize it can be hard to grasp what HR really means,” he said. Hibob is looking to build in more training tools, underscoring the feature race that Personio will also have to run to keep up.