Personio Revenue, Valuation, Funding & Investors

Personio is valued at $8.5B as of June 2022, a 35.1x multiple on its last reported $242M revenue.

Last Personio valuation

$8.5B

Series E · Jun 2022

Last Personio funding round

$200M

Series E · Jun 2022

Personio revenue

$242M

Series E · Jun 2022

Key investors in Personio

  • Global Founders Capital
  • Index Ventures
  • Northzone
  • Picus Capital
  • Accel
  • Lightspeed Venture Partners

Personio Overview

About Personio

Personio is a comprehensive HR platform designed for small and medium-sized businesses throughout Europe. Founded in 2015 and headquartered in Munich, Germany, the company delivers integrated tools for recruiting, payroll processing, performance reviews, time tracking, and employee onboarding. It supports localized compliance in countries including Germany, France, the United Kingdom, Spain, the Netherlands, Austria, Switzerland, and Ireland. Personio connects with applications such as Microsoft Teams, Slack, and Google Workspace to streamline workflows. The platform processes payroll for over 1 million employees monthly and maintains ISO 27001 certification for data security.


Founded

2015

HQ

GermanyMunich

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$242M (Jun 2022)

Valuation

$8.5B (Jun 2022)

Personio Valuation

Personio is currently valued at $8.5B, based on its Series E in June 2022.

The $200M round was led by Greenoaks, with participation from Index Ventures, Global Founders Capital, Altimeter Capital, Lightspeed Venture Partners, Accel and 3 other investors.

Personio's valuation has grown 52x from $165M at its Series B in January 2019 to $8.5B in June 2022, across 5 priced rounds.

Personio valuation by funding round

Revenue multiple
Personio valuation by funding round
DateStageValuationRevenue Multiple
Jun 2022Series E$8.5B35.1x
Oct 2021Series E$6.3B63.0x
Jan 2021Series D$1.7B-
Jan 2020Series C$500M-
Jan 2019Series B$165M33.0x

Personio Revenue

Personio's latest recorded revenue is $242M, as of its Series E in June 2022. At a $8.5B valuation, that implies a 35.1x revenue multiple.

Revenue grew from $5M in January 2019 to $242M in June 2022, while the revenue multiple moved from 33.0x to 35.1x.

Personio revenue by funding round

Personio revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2022$242M$8.5B35.1xSeries E
Oct 2021$100M$6.3B63.0xSeries E
Jan 2019$5M$165M33.0xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Personio Funding History

Personio has raised a total of $724M across 7 funding rounds.

Personio's first fundraising round was a $2M seed round in July 2016. The most recent completed round was a $200M Series E in June 2022.

Personio funding rounds

Personio funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2022Series EGreenoaks (lead); Index Ventures; Global Founders Capital; Altimeter Capital; Lightspeed Venture Partners; Accel; Alkeon Capital; Northzone; Meritech Capital Partners$200M$8.5BPersonio is Europe's leading HR software platform for small and mid-sized businesses (SMBs), targeting companies with 10 to 5,000 employees but seeing strongest growth from 200-2,000 employee firms. It provides an all-in-one people operating system covering HR processes like payroll, performance management, recruiting, time tracking, and workflow automation, serving over 6,000 customers and 500,000+ employees across sectors including tech, mid-market, NGOs, and public organizations. In June 2022, Personio completed the second closing of its Series E funding round, raising $200 million led by Greenoaks Capital with participation from existing investors Accel, Alkeon Capital, Altimeter Capital, Global Founders Capital, Index Ventures, Lightspeed Venture Partners, Meritech Capital Partners, and Northzone, bringing total Series E to $470 million. The round valued Personio at a post-money valuation of $8.5 billion, up from $6.3 billion in the first Series E tranche of $270 million closed in October 2021, making it one of Europe's most valuable startups at the time. Funds were allocated to expand the customer base, enhance platform features like People Workflow Automation with over 100 app integrations, launch products such as Performance & Development tools, and open new offices in Berlin and Barcelona. The company had recently acquired German startup Back to bolster internal ticketing and knowledge management capabilities. Personio focused on automation to help SMBs navigate post-pandemic hybrid work and economic uncertainty, positioning itself as critical for efficient HR and payroll in complex markets like Germany. Total funding raised to date exceeded $700 million across multiple rounds.
Oct 2021Series EGreenoaks (lead); Index Ventures; Global Founders Capital; Altimeter Capital; Lightspeed Venture Partners; Accel; Alkeon Capital; Northzone; Meritech Capital Partners$270M$6.3BPersonio is a Munich-based HR software platform providing all-in-one solutions for small and medium-sized enterprises (SMEs), including recruitment, payroll, employee management, vacation tracking, and integrations with tools like Slack, Salesforce, and Microsoft Teams. Founded in 2015 by Hanno Renner, Arseniy Vershinin, Ignaz Forstmeier, and Roman Schumacher, the company automates HR workflows to improve efficiency and transparency, targeting Europe's underserved SME market previously overlooked by legacy players. By late 2021, Personio served around 6000 customers and had demonstrated rapid growth, jumping from a $1.7 billion valuation in its January 2021 Series D to $6.3 billion in the first tranche of its Series E. In October 2021, Personio raised approximately €233 million (USD 270 million) in the first closing of its Series E funding round, led by Greenoaks Capital Partners, with participation from new investors Altimeter Capital and Alkeon Capital, alongside existing backers Accel, Index Ventures, Lightspeed Venture Partners, Meritech Capital Partners, Northzone, and Global Founders Capital. The post-money valuation reached USD 6.3 billion, marking a 3.7x increase from the prior round in just 10 months and positioning Personio as one of Europe's most valuable startups. Funds were earmarked for expanding its People Workflow Automation system, product development, and geographic growth across Europe, with an emphasis on organic expansion rather than immediate acquisitions. The round reflected Personio's strong momentum amid a booming SME sector recovering from pandemic challenges, with CEO Hanno Renner noting the opportunistic timing to bolster the balance sheet for sustained investments. This first Series E tranche was later extended in June 2022 with an additional USD 200 million led by Greenoaks again, bringing total Series E capital to USD 470 million at an USD 8.5 billion valuation, further underscoring the company's trajectory toward potential decacorn status and long-term goals like public listing in 18-24 months from 2021.
Jan 2021Series DIndex Ventures (lead); Meritech Capital Partners (lead); Global Founders Capital; Lightspeed Venture Partners; Picus Capital; Accel; Northzone$125M$1.7BPersonio is a German HR software platform that provides an all-in-one suite targeting small- and medium-sized businesses with 10 to 2,000 employees. The platform covers recruiting, onboarding, payroll, absence tracking, and other core HR functions, with features such as a self-service leave request portal that reportedly reduces HR workload by approximately 80% for that particular process. The company serves approximately 3,000 SME customers across Europe, with particular strength in its home market and recent expansion into Spain, UK, Ireland, and the Nordics. In its Series D funding round closed in January 2021, Personio raised $125 million at a $1.7 billion post-money valuation. The round was co-led by Index Ventures and Meritech Capital Partners, with participation from earlier backers Accel, Lightspeed Venture Partners, Northzone, Global Founders Capital, and Picus Capital. This valuation represented a substantial increase from the company's $500 million valuation just one year prior in its Series C round. The company had doubled its revenues in 2020, driven by pandemic-related demand for remote HR management solutions. Personio planned to use the capital to double its headcount from 500 to 1,000 employees by year-end 2021 and to expand into new markets including France, Italy, and additional European territories, while strengthening its presence in existing operations across four offices in Munich, Madrid, London, and Dublin.
Jan 2020Series CAccel (lead); Index Ventures; Lars Dalgaard; Global Founders Capital; Lightspeed Venture Partners; Picus Capital; Northzone$75M$500MPersonio is a Munich-based provider of all-in-one HR software tailored for small and medium-sized enterprises (SMEs), offering tools to digitize and automate people operations such as recruiting, onboarding, payroll, and performance management. The company launched in 2015 and has focused on rapid expansion across Europe, targeting the growing demand for affordable, user-friendly HR platforms in fragmented markets dominated by legacy systems. On January 21, 2020, Personio raised $75 million in a Series C funding round led by Accel, with participation from Lightspeed Venture Partners, Lars Dalgaard (founder of SuccessFactors), and existing investors including Index Ventures, Northzone, Global Founders Capital, and Picus Capital. This brought total funding to $130 million. TechCrunch reported the investment valued Personio at around $500 million post-money. The capital was intended to accelerate product development, international growth, and hiring, coinciding with the launch of operations in the UK and Ireland via a new London office. At the time, Personio demonstrated strong traction with software sales nearly tripling in the prior 12 months and headcount more than doubling to over 350 employees, projecting 700 by year-end 2020. The preemptive raise highlighted investor confidence in Personio's potential to lead Europe's HR software market for SMEs. This Series C followed earlier rounds and preceded a $125 million Series D in January 2021 led by Index Ventures at a $1.7 billion valuation, where Personio noted doubling revenues in 2020 despite market challenges. Personio continued scaling, reaching later valuations of $6.3 billion in 2021 and higher in subsequent rounds, while expanding its platform into comprehensive people workflow automation.
Jan 2019Series BIndex Ventures (lead); Global Founders Capital; La Famiglia; Visionaries Club; Picus Capital; Northzone$40M$165MPersonio is a Munich-based HR software provider founded in 2015, offering an all-in-one cloud-based platform that manages HR processes including payroll, recruiting, time tracking, and employee engagement for SMEs with 10 to 2,000 employees. The platform integrates with third-party tools and serves as the system of record for HR data, with over 1,000 clients across 35 countries managing 150,000 employees and hundreds of thousands of applicants by early 2019. In January 2019, Personio raised $40 million in a Series B round led by Index Ventures, with participation from Northzone and Global Founders Capital (Rocket Internet), though the specified investors like La Famiglia, Picus Capital, and Visionaries Club are not mentioned in the announcement. The Series B funding was intended to expand into further European regions, grow the product and engineering teams, and potentially open new offices to become Europe's leading HR software provider for SMEs. At that time, Personio reported revenue of 4.6 million euros for the 2018 financial year, which doubled to 9.3 million euros in 2019 amid heavy investments in personnel (98 new hires, 150% increase in costs) and marketing/sales (over 9 million euros spent, 200% increase), leading to losses tripling from 5.1 million to 17.95 million euros. The company had around 600 employees across four locations by late 2019. Personio continued rapid growth post-2019, reaching unicorn status, expanding to over 3,000 customers, and later achieving an $8.5 billion valuation in its Series E extension in June 2022 after raising $470 million in that round (total funding $724 million). It now supports over 14,000 companies and 500,000+ employees, focusing on people workflow automation, with operations centered in Europe and ambitions for North America.
Aug 2017Series ANorthzone (lead); Index Ventures; Global Founders Capital; Picus Capital$12M-Personio is a Munich-based HR management and recruiting platform offering a SaaS solution for small and medium-sized enterprises in Europe. The company raised $12 million (€10.5 million) in its Series A funding round in August 2017, led by Northzone with participation from Global Founders Capital and Picus Capital. The funding aimed to expand the team, accelerate product development, and establish leadership in HR software for SMEs. At the time, Personio served over 400 clients managing HR and recruiting processes. The round supported pushing its all-in-one HR platform to address outdated systems in a $14 billion global market for SME HR solutions. Personio continued growth with subsequent rounds, including a $40 million Series B in 2019 led by Index Ventures.
Jul 2016SeedGlobal Founders Capital (lead); Citadel Capital; Philipp Schlanderer; Andreas Franz; Matthias Möller; Max-Josef Meier; Anselm Bauer; Picus Capital; Sebastian Schuon; Benjamin Guenther$2M--

Who has invested in Personio?

21 investors have backed Personio across its funding rounds, including Global Founders Capital, Index Ventures, Northzone, Picus Capital, Accel and Lightspeed Venture Partners.

Lead investors include Greenoaks, Index Ventures, Meritech Capital Partners, Accel, Northzone and 1 other investor.


Personio Investors

Investors in Personio by funding rounds participated
InvestorHQRoundsRoleFirst check
Global Founders CapitalGermanyBerlin7LeadJul 2016
Index VenturesUnited KingdomLondon6LeadAug 2017
NorthzoneUnited KingdomLondon6LeadAug 2017
Picus CapitalGermanyMunich5ParticipantJul 2016
Lightspeed Venture PartnersUnited StatesSan Francisco, CA4ParticipantJan 2020
AccelUnited StatesPalo Alto, CA4LeadJan 2020
Meritech Capital PartnersUnited StatesSan Francisco, CA3LeadJan 2021
GreenoaksUnited StatesSan Francisco, CA2LeadOct 2021
Altimeter CapitalUnited StatesSan Francisco, CA2ParticipantOct 2021
Alkeon CapitalUnited StatesNew York City, NY2ParticipantOct 2021
Citadel CapitalUnited StatesNew York City, NY1ParticipantJul 2016
Lars DalgaardUnited StatesSan Francisco, CA1ParticipantJan 2020
Philipp SchlandererGermanyMunich1ParticipantJul 2016

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Acquisitions by Personio

Personio has acquired 3 companies to date.

Last acquisition by Personio was on April 21st 2026. Personio acquired Aurio for undisclosed valuation.


Latest Acquisitions by Personio

Aurio
Back
Rollbox
Description
Aurio is an AI agent that automates talent sourcing, engagement, and personalized candidate outreach. The startup integrates with LinkedIn Recruiter and Applicant Tracking Systems to streamline recruiting workflows.
Back is a San Francisco-headquartered workplace platform automating IT, HR, and facilities requests. The no-code tool integrates with Slack, Microsoft Teams, and ServiceNow for ticketing, approvals, and workflows used by teams at companies like Notion and Ramp. Launched in 2021, it processes thousands of daily requests across remote and office environments.
Rollbox is an API-driven payroll processing engine for developers. The service handles wage calculations, tax withholdings, and direct deposits via REST endpoints integrated with HRIS systems. Rollbox complies with US federal and state regulations from servers in AWS US-East.
HQ CountryFranceGermanySpain
HQ City
Monchel
Berlin
Madrid
Deal Date21 Apr 202624 May 20229 Apr 2019
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Personio Competitors

Personio competitors include listed companies like Paylocity and Paycom, and private ones like Gusto, BetterUp, Checkr and Rippling.

Public and private companies comparable to Personio
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PaylocityUnited StatesUnited StatesPublicly listed$1.8B$499M$7.8B4.2x
GustoUnited StatesSan Francisco, CAPrivate$500M-$9.5B19.0x
PaycomUnited StatesUnited StatesPublicly listed$2.1B$799M$10B5.1x
BetterUpUnited StatesSan Francisco, CAPrivate$100M-$4.7B47.0x
CheckrUnited StatesSan Francisco, CAPrivate$800M-$4.6B5.8x
RipplingUnited StatesSan Francisco, CAPrivate$570M-$17B29.5x

Personio Public Comps

Personio is still privately-owned, but its public comps include Paylocity, Paycom, Workiva, TOTVS, Hilan, ATOSS Software, Freee, Teamshares, Nordtech Group and Paychex.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Paylocity$1.8B$499M4.3x4.2x15.3x11.5x
Paycom$2.1B$799M5.3x5.1x13.7x11.3x
Workiva$885M($33M)4.5x4.0x(120.8x)24.0x
TOTVS$1.1B$318M3.9x3.2x13.7x12.1x
Hilan$993M$154M1.8x-11.9x-
ATOSS Software$218M$84M7.0x6.4x18.2x17.1x
Freee$214M$6M6.3x4.8x237.7x65.4x
Teamshares$472M($23M)1.7x1.4x(35.0x)33.2x

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Common questions about Personio

When was Personio founded?Personio was founded in 2015.
Where is Personio headquartered?Personio is headquartered in Munich, Germany.
Is Personio publicly listed?No, Personio is a private, VC-backed company.
What is Personio's valuation?Personio was last valued at $8.5B in its Series E in June 2022.
How much funding has Personio raised?Personio has raised $724M across 7 funding rounds.
What was Personio's last funding round?Personio's last funding round was a $200M Series E in June 2022, led by Greenoaks.
Who are Personio's investors?Personio's investors include Global Founders Capital, Index Ventures, Northzone, Picus Capital, Lightspeed Venture Partners, Accel, Meritech Capital Partners, Greenoaks, Altimeter Capital, Alkeon Capital and 11 others.
What is Personio's revenue?Personio's latest recorded revenue is $242M (June 2022).
What is Personio's revenue multiple?Personio's latest valuation implies a 35.1x revenue multiple ($8.5B valuation on $242M of revenue).
Which companies are comparable to Personio?Companies comparable to Personio include Paylocity, Gusto, Paycom, BetterUp, Checkr and Rippling.
How many companies has Personio acquired?Personio has acquired 3 companies, including Aurio, Back and Rollbox.

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