Personio commits to Dublin growth as it rockets in value to $6.3bn

12 Oct 2021

Personio CEO Hanno Renner. Image: Personio

The company has launched new software automation tools for HR as it plans to expand its engineering team in Dublin.

HR software company Personio has hit a valuation of $6.3bn following a Series E funding round of $270m.

New investors in this round include Greenoaks, which led the fund, Altimeter Capital and Alkeon. Existing investors Index Ventures, Accel, Lightspeed and Global Founders Capital also participated in the round, along with others.

Added to a funding round in January, this brings Personio’s total funds raised to more than $500m.

This funding will be used to support Personio’s growth in Ireland, having first started building a team in Dublin last year. It has since announced the establishment of a business and engineering hub in Dublin with about 130 people currently employed here and a large number of jobs still available.

Personio’s Irish office is currently situated in south Dublin city centre, with capacity for about 250 people. However, co-founder and CEO Hanno Renner previously told that the company is looking for an even bigger site as it plans to reach between 500 and 600 people in Dublin in the medium term.

Renner reiterated this commitment to The Irish Times this week, adding that the company will have at least 100 engineers in Dublin by the end of the year. He also suggested that he could see further growth in Dublin driven by Personio’s increasing global customer base.

‘We want to help HR teams go beyond HR’

Personio first announced plans to launch in Ireland in January 2020 following a $75m round of funding. Its Dublin team is headed up by the company’s chief revenue officer, Geraldine MacCarthy, who was formerly the lead for Dropbox Business in EMEA.

The Munich-headquartered company was founded in 2015 and now has locations in Dublin, Madrid, London and Amsterdam. Its SaaS for HR teams has scored more than 5,000 customers across Europe, with a particular focus on SMEs with up to 2,000 employees

Its all-in-one HR software can be used for human resources, recruiting and payroll. Along with the Series E raise, the company also announced a new software category with People Workflow Automation.

People Workflow Automation will support SMEs without the resources to build their own automated workflows. Using this software, businesses can trigger workflows for scenarios such as terminations, team changes, promotions, location changes and leave requests, streamlining these processes, avoiding delays for employees and freeing up time for HR teams and managers.

“While I consider this funding a major milestone, we are still at the very beginning of our journey,” said Renner. “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.”

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Elaine Burke is the host of For Tech’s Sake, a co-production from Silicon Republic and The HeadStuff Podcast Network. She was previously the editor of Silicon Republic.