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12. October 2021
Series E Funding: Personio’s Vision For People Workflow Automation
It's official: Personio has received a pre-emptive Series E funding round totaling $270 million, giving the company a $6.3 billion valuation and a clear path forward — helping European SMEs realize the goal of People Workflow Automation.
But, how did this all come together and what does it mean for the future of HR? In this article, we’ll cover all of the details, the road ahead, and how this funding round is set to both validate and propel forward a vision to help SMEs remove delays and realize opportunities across Europe.
People Workflow Automation Is Here
Over the last twelve months, the team at Personio has spent time listening to our 5,000 plus customers and learning from them. What we noticed was that HR teams are often dependant on other teams within an organization to accomplish critical tasks related to people processes.
This results in delays that lead to missed opportunities. Whether it’s your organization team missing out on a great hire, an employee missing out on an opportunity to recharge their batteries on holiday, or a potential data leak due to delayed off-boarding.
People Workflow Automation is designed to unlock the productive potential of European SMEs, by turning manual processes into automated workflows that connect applications, eliminate these delays, and help organizations realize opportunities.
It’s all of a company’s workflows, across all of the applications that touch people processes, so that HR can go beyond HR and drive productivity across the business. More importantly, it’s a new way to think, talk about, and accomplish strategic HR work — and Personio is prepared to lead that conversation.
Following the launch of People Workflow Automation and the recent round of funding, Personio’s Co-Founder and CEO, Hanno Renner, offered the following insight:
"We want to help HR teams go beyond HR. Launching the People Workflow Automation category is a big step forward along this path, serving the most important asset of any business, its people. We are excited to see Europe’s SMEs thrive as they make use of this technology."
And, to really help this new category take hold, Personio received an endorsement from a host of investors. Here are all the details behind the latest funding round…
Personio’s Series E Funding: Explained
How much capital is Personio receiving?
A pre-emptive round of $270 million leading to a $6.3 billion valuation. In particular, this round adds to already significant reserves from Personio’s last funding round in January 2021, bringing the total capital raised to over $500 million.
Who participated in this round of financing?
The latest funding round was led by Greenoaks, with participation from Altimeter and Alkeon Capital. These three funds are united by their strategy of investing in category-leading companies across their public and private journeys, for the long term. Their portfolios include many notable software companies such as UiPath, Hubspot, Stripe, and Snowflake. Personio’s existing investors – Index Ventures, Accel, Meritech, Lightspeed, Northzone, and Global Founders Capital – all also invested again, underlining the strength of Personio’s vision and trajectory of growth.
What will happen with the raised capital?
The raised capital will help Personio evolve our product to lead the People Workflow Automation category while continuing to execute on a long-term-oriented strategy — focusing on the needs of customers and their people.
A Resounding Endorsement Of People Workflow Automation
Equipped with a fresh round of funding, Personio is now more focused than ever on helping European SMEs unlock their productive potential through People Workflow Automation.
More importantly, though, it means extending that confidence in a new category to a whole host of new investors. Again, from our CEO and Co-Founder, Hanno Renner:
“This investment highlights the continued fast growth of the business and the immense market potential, but also the belief in our vision for the future of HR tech. While I consider this funding a major milestone, we are still at the very beginning of our journey.”
The feeling is mutual on the investor side, with Neil Mehta, Founder and Managing Partner of Greenoaks, offering the following insight:
“Launching the People Workflow Automation category will deliver even more value to businesses across Europe. We are proud to join Personio at this thrilling stage of their journey and look forward to being partners for many years to come.”
So, at this point in the journey, what happens next when it comes to People Workflow Automation?
At A Glance: People Workflow Automation In Action
Alongside the launch of People Workflow Automation, Personio also released several new features that will allow our customers to benefit from a whole new level of workflow automation when it comes to a company’s people processes.
This includes integrations collaboration platforms such as Slack and MS teams, as well as integrations with identity manager providers such as Okta or MS Azure Active Directory, in addition to a Workflow Hub where HR teams can oversee statuses and potential delays across all their workflows.
All your people workflows, across all your applications, and all in one place. Don’t miss out, because Personio is helping make it a reality.
Remove Delays, Realize Opportunities
Think of it like this: People Workflow Automation solves the problem of improper processes leading to delays that cause companies to miss out on a host of opportunities.
It does it by automating these processes, across all applications, teams, and across the organization. Terminations, team changes, promotions, location changes, and sick leave requests. They all happen in one place, automatically.
Now, with People Workflow Automation, HR teams not only have a handle on all of these tasks, but they can rise above them to help drive productivity across the entire business. HR can go beyond HR and can help lift productivity to new heights.
It’s an exciting future ahead, and Katarina Berg, CHRO at Spotify and one of the newest members of the Personio Board, put it best:
“HR teams have been constrained by having to work across different applications, departments, and stakeholders for too long. People Workflow Automation democratizes an important technology trend that will have a significant impact and allow HR to go beyond HR.”
For Personio, it’s simply the next step in a much bigger journey. People Workflow Automation has arrived, and it’s here to help change the way teams think about HR and, ultimately, how HR can make the most of opportunities.
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