Personio Revenue, Valuation, Funding & Investors

Personio is valued at $8.5B as of June 2022. Personio revenue was $26M, as disclosed with its January 2021 round.

Last Personio valuation

$8.5B

Series E · Jun 2022

Last Personio funding round

$200M

Series E · Jun 2022

Personio revenue

$26M

Series D · Jan 2021

Key investors in Personio

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

Personio Overview

About Personio

Personio is a Munich-headquartered provider of cloud-based HR software for small and medium-sized businesses operating internationally. Its platform combines core HR administration, recruiting and applicant tracking, onboarding, absence and time tracking, performance management, payroll preparation, workflow automation and people analytics in a single system. Personio sells subscriptions to companies typically with about 10 to 2,000 employees, mainly in Europe. By June 2024 it served around 12,000 customers across 70 countries and employed roughly 2,000 people, and its statutory accounts show revenue rising from EUR 1.8 million in 2017 to EUR 50.7 million in 2021. The company is venture-backed: after a EUR 2.1 million seed round in 2016 it raised rounds led by Northzone, Index Ventures, Accel, Index and Meritech, and Greenoaks, reaching a USD 8.5 billion valuation in June 2022. Personio was founded in 2015 by Hanno Renner, Roman Schumacher, Arseniy Vershinin and Ignaz Forstmeier; Renner is chief executive.


Founded

2015

HQ

GermanyMunich

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$26M (Jan 2021)

Valuation

$8.5B (Jun 2022)

Personio Valuation

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

The $200M round was led by Greenoaks.

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$8.5B-
Oct 2021Series E$6.3B-
Jan 2021Series D$1.7B65.6x
Jan 2020Series C$500M48.7x
Jan 2019Series B$165M33.0x

Personio Revenue

Personio's latest recorded revenue is $26M, as of its Series D in January 2021. At a $1.7B valuation, that implies a 65.6x revenue multiple.

Revenue grew from $5M in January 2019 to $26M in January 2021, while the revenue multiple moved from 33.0x to 65.6x.

Personio revenue by funding round

Personio revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2021$26M$1.7B65.6xSeries D
Jan 2020$10M$500M48.7xSeries C
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)$200M$8.5BPersonio completed a second closing of its Series E round in June 2022, adding USD 200 million at a post-money valuation of USD 8.5 billion, up from USD 6.3 billion at the first closing in October 2021. Greenoaks Capital Partners, which had led the first tranche, provided the extension; Tech.eu reported that the money came solely from Greenoaks, while TechCrunch mentioned other unnamed participants. The two closings brought total Series E capital to USD 470 million and lifted total funding raised since 2015 to roughly USD 780 million. Chief executive Hanno Renner said revenue had doubled since the October 2021 raise while the valuation rose only about 30%, and the capital was earmarked for product development, its People Workflow Automation offering and continued expansion across Europe. Shortly before the round Personio acquired Berlin-based employee-experience startup Back. Personio is a Munich-based provider of all-in-one HR software for small and mid-sized companies, and its statutory accounts show revenue of EUR 50.7 million in 2021. The company was founded in 2015 by Hanno Renner, Roman Schumacher, Arseniy Vershinin and Ignaz Forstmeier.
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 raised USD 40 million in a Series B round announced in January 2019, led by London-based Index Ventures with participation from existing investors Northzone and Rocket Internet's Global Founders Capital. The company said the capital would fund expansion into further European markets and growth of its product and engineering teams as it pursued its aim of becoming Europe's leading HR software provider for small and medium-sized companies. At the time more than 1,000 clients in 35 countries used Personio for HR and recruiting processes. Personio targets businesses with roughly 10 to 2,000 employees and positions its cloud platform as an HR operating system covering recruiting, onboarding, personnel files, absence and time tracking, performance and payroll preparation. Its statutory accounts show revenue of EUR 1.8 million in 2017 rising to EUR 9.3 million in 2019, while losses widened as the company invested heavily in hiring, sales and marketing. Personio was founded in Munich in 2015 by Hanno Renner, Roman Schumacher, Arseniy Vershinin and Ignaz Forstmeier.
Aug 2017Series ANorthzone (lead); 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); Philipp Schlanderer; Andreas Franz; Matthias Möller; Max-Josef Meier; Anselm Bauer; Picus Capital; Sebastian Schuon; Benjamin Guenther$2M-Personio raised a seed round of about EUR 2.1 million in July 2016, its first outside funding. Global Founders Capital, the venture fund associated with Rocket Internet, and Picus Capital invested alongside the founders of Munich fashion platform Stylight and a group of individual business angels. Until then the company had been bootstrapped: it had not run any marketing and had grown on revenue and word of mouth to close to 100 customers, with a team of about 10 people. Management said the money would expand development and customer-support capacity and fund the first sales and marketing hires, with the longer-term goal of becoming Europe's leading HR software provider for small and medium-sized businesses and competing with US players such as BambooHR and Namely. Personio is a Munich-based provider of cloud HR software covering personnel administration, recruiting and payroll for SMEs. The company was founded in 2015 by Hanno Renner, Roman Schumacher, Arseniy Vershinin and Ignaz Forstmeier, who met at the Center for Digital Technology and Management in Munich.

Who has invested in Personio?

20 investors have backed Personio across its funding rounds, including Global Founders Capital, Picus Capital, Northzone, Index Ventures, 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 CapitalGermanyBerlin6LeadJul 2016
Picus CapitalGermanyMunich5ParticipantJul 2016
NorthzoneUnited KingdomLondon5LeadAug 2017
Index VenturesUnited KingdomLondon4LeadJan 2019
Lightspeed Venture PartnersUnited StatesSan Francisco, CA3ParticipantJan 2020
AccelUnited StatesPalo Alto, CA3LeadJan 2020
GreenoaksUnited StatesSan Francisco, CA2LeadOct 2021
Meritech Capital PartnersUnited StatesPalo Alto, CA2LeadJan 2021
Lars DalgaardUnited StatesSan Francisco, CA1ParticipantJan 2020
Philipp SchlandererGermanyMunich1ParticipantJul 2016
Andreas FranzGermanyMunich1ParticipantJul 2016
Altimeter CapitalUnited StatesMenlo Park, CA1ParticipantOct 2021
La FamigliaGermanyBerlin1ParticipantJan 2019

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Acquisitions by Personio

Personio has acquired 4 companies to date.

Last acquisition by Personio was on October 6th 2026. Personio acquired Circula for undisclosed valuation.


Latest Acquisitions by Personio

Circula
Aurio
Back
Rollbox
Description
Circula is a Berlin-based software-as-a-service company that provides spend management for businesses. Founded in 2017, its platform helps companies manage employee expenses, travel costs, corporate cards, employee benefits and accounts payable, and it is designed for European companies with a focus on tax compliance and integrations with accounting and payroll systems such as DATEV. The company serves more than 3,000 business customers and about 250,000 users and earns its revenue mainly from software subscriptions sold to companies. Circula operates as a limited liability company under German law, Circula GmbH, and has a team of roughly 11 to 50 employees. It has worked alongside the HR and payroll provider Personio for several years, with the two platforms serving joint customers. In October 2026 Personio announced that it had acquired Circula, which will operate as Circula by Personio while remaining available as a standalone product for customers that do not use Personio.
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 CountryGermanyFranceGermanySpain
HQ City
Berlin
Monchel
Berlin
Madrid
Deal Date6 Oct 202621 Apr 202624 May 20229 Apr 2019
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Personio Competitors

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

Public and private companies comparable to Personio
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PaylocityUnited StatesUnited StatesPublicly listed$1.8B$499M$8.9B4.8x
GustoUnited StatesSan Francisco, CAPrivate$500M-$9.3B-
PaycomUnited StatesUnited StatesPublicly listed$2.1B$799M$12B5.8x
CheckrUnited StatesSan Francisco, CAPrivate$800M-$5B25.0x
BetterUpUnited StatesSan Francisco, CAPrivate$100M-$4.7B47.0x
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, Freee, ATOSS Software, Nordtech Group, Teamshares and AdvancedAdvT.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Paylocity$1.8B$499M5.0x4.8x17.6x13.1x
Paycom$2.1B$799M6.2x5.8x15.9x12.8x
Workiva$885M($33M)5.1x4.5x(138.0x)25.5x
TOTVS$1.1B$303M3.6x2.9x12.8x11.1x
Hilan$965M$149M1.8x-11.7x-
Freee$269M$15M5.9x5.5x105.5x66.2x
ATOSS Software$212M$82M7.3x6.6x18.9x17.1x
Nordtech Group$72M$15M4.8x-23.6x-

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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, Picus Capital, Northzone, Index Ventures, Lightspeed Venture Partners, Accel, Greenoaks, Meritech Capital Partners, Lars Dalgaard, Philipp Schlanderer and 10 others.
What is Personio's revenue?Personio's latest recorded revenue is $26M (January 2021).
What is Personio's revenue multiple?Personio's latest valuation implies a 65.6x revenue multiple ($1.7B valuation on $26M of revenue).
Which companies are comparable to Personio?Companies comparable to Personio include Paylocity, Gusto, Paycom, Checkr, BetterUp and Rippling.
How many companies has Personio acquired?Personio has acquired 4 companies, including Circula, Aurio, Back and Rollbox.

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