This story requires our BI Prime membership. To read the full article,Munich-based HR startup Personio has just raised a pre-emptive $75 million Series C round.
Silicon Valley fund Accel led the round with participation from Lightspeed Ventures. Previous investors Index Ventures, Northzone, Global Founders Capital, and Picus Capital also participated in the funding, which takes Personio's total to $130 million. Investors propositioned Personio throughout 2019 before Renner agreed to talks, which took three weeks from the end of November and saw the deal close just before Christmas. Personio had no formal pitch deck for the process and instead held a series of workshops and talks with investors about the sector.
Despite that, sales of Personio's software has almost tripled in the past twelve months, while the number of employees has more than doubled to over 350 from 120 at the start of the year. The company is set to reach 700 employees by the end of 2020, according to Renner.
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