German HR platform opens first UK office in London following $75m investment
A human resources platform has launched in the UK and Ireland today following a $75m funding round.
Personio, which also provides recruitment and payroll support, received funding from venture capital firms Accel and Lightspeed Venture Partners, bringing its total investment amount to $130m since its launch in 2015.
Additional investors in Personio include Index Ventures, Northzone, Global Founders Capital and Picus Capital.
The company’s expansion into London follows rapid growth across Europe, with it more than doubling its workforce in the past year. The firm expects to do the same again by the end of this year.
Personio has also tripled its sales within the last year, with nearly 2,000 customers across 40 countries.
Hanno Renner, co-founder and CEO of Personio, said: “Adding Accel and Lightspeed Venture Partners, both highly experienced investors, to our list of supporters shows how much people believe in our product.
“This preemptive funding comes earlier than we had anticipated. Such strong interest and support from the market demonstrates not only the value of Personio’s offer, but also the huge potential the business has for further development and growth in the future.
“The new funds will help support our expansion into the UK and Ireland. Businesses in these markets can take advantage of our best-in-class German engineering to automate HR admin processes and free up time for more valuable tasks.”
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