Personio GmbH’s €270 Million Series E Financing Round

Taylor Wessing advised existing investors Accel and Lightspeed. Hogan Lovells advised Personio.

Personio has raised a total of USD 270 million in its Series E financing round from lead investor Greenoaks Capital Partners together with the existing investors Accel, Lightspeed Venture Partners, Index Ventures, Meritech, Northzone, Global Founders Capital and with new investors Altimeter and Alkeon Capital completing the round.

Personio, based in Munich, Madrid, Dublin, London and Amsterdam, wants to make personnel processes in the areas of recruiting, personnel administration and payroll accounting faster, clearer and more efficient with its all-in-one HR software solutions, so that HR managers can once again focus more on their employees. According to Personio, almost 5,000 customers in over 80 countries are already using this all-in-one software solution.

The Series E financing round raises Personio’s valuation to USD 6.3 billion, making it the second most valuable German start-up and to Europe’s most valuable HR tech company.

Together with its Series E financing round Personio launched its new People Workflow Automation software category enabling to transform manual and fragmented people process into automated workflows that span across the entire organization and all its applications, removing painful delays and helping to realize opportunities.

Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. CrowdStrike, Dropbox, Facebook, Slack, Spotify, Supercell, UiPath, and Venmo are among the companies the firm has backed over more than 35 years.

Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the enterprise and consumer sectors. Over the past two decades, Lightspeed has backed hundreds of entrepreneurs and helped building more than 350 companies globally, including Snap, Nest, AppDynamics, MuleSoft, OYO, StitchFix, and GrubHub.

The Taylor Wessing team included Hassan Sohbi (Picture – Lead, Partner) und David Becker (Salary Partner), Max Willen (Professional Support Lawyer) all M&A/Venture Capital, all Frankfurt.

Hogan Lovells Team for Personio GmbH included Dr. Volker Geyrhalter (Partner), Cornelius Naumann (Senior Associate), Dr. Julian Fridrich (Senior Associate), Andreas Thun (Counsel) (all Corporate, Munich); Dr. Falk Loose (Counsel), Dr. Marius Plum (Associate) (both Tax and Accounting, Munich).

Involved fees earner: Julian Fridrich – Hogan Lovells; Volker Geyrhalter – Hogan Lovells; Falk Loose – Hogan Lovells; Cornelius Naumann – Hogan Lovells; Marius Plum – Hogan Lovells; Andreas Thun – Hogan Lovells; David Becker – Taylor Wessing; Hassan Sohbi – Taylor Wessing; Max Willen – Taylor Wessing;

Law Firms: Hogan Lovells; Taylor Wessing;

Clients: Accel ; Lightspeed Venture Partners; Personio;

Federica Tiefenthaler

Author: Federica Tiefenthaler