A HR software company is plotting rapid growth in the UK following a mammoth £200 million funding round.
Personio, headquartered in Germany, serves small and mid-sized businesses and has been valued at $6.3 million by the Series E round.
It has also announced People Workflow Automation, a new category of software, which will allow SMEs to transform manual and fragmented people processes into automated workflows that span across the entire organisation and all its applications.
This can reflect changes such as terminations, team changes, promotions, location changes and sick leave requests.
“People Workflow Automation is particularly relevant in advanced markets like the UK which typically have more tools and therefore face more complexity,” said Sam Richards, UK country manager.
“The UK is the second most important, and largest, market for Personio, which is experiencing an exciting 4x growth year on year.
“We are increasing our headcount in the UK and planning to hire over 100 people in the next year.”
The latest funding round was led by Greenoaks Capital Partners, with participation from Altimeter Capital and Alkeon. Personio’s existing investors – Index Ventures, Accel, Meritech, Lightspeed, Northzone and Global Founders Capital – all also invested again.
Hanno Renner, co-founder and CEO, said: “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. Now 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.”