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Personio, the German recruitment and human resources platform, raised $ 40 million on Series B financing. Index Ventures, headquartered in London, leads the group, with the participation of existing investors Northzone and global founders of Rocket Internet.
Founded in 2015, Personio, based in Munich aims to create a "human resource exploitation system" for small and medium-sized enterprises (SMEs) with between 10 and 2,000 employees. Cloud-based software is designed to feed all of a company's recruitment and human resources processes, either through the main functionality of the product or through its ability to integrate with third-party software.
"We believe in the benefits of a holistic HR solution covering the entire life cycle of employees, while its features must adapt to each client's requirements and processes," says the co-founder. and CEO of Personio, Hanno Renner.
"That being said, we distinguish between the human resources management activities that are essential for each company (for example, recruitment, integration, leave management, payroll, etc.) and those that are specific. to the industry or rather pleasant to the job. -haves ".
Examples of this include hardware-based time tracking and employee engagement, respectively. "We are focused on providing an unparalleled experience for what we consider to be bread and butter HR," says Renner. "For more specific requirements, we let our customers choose from a growing number of integrated vertical solutions based on their needs. The data will be synchronized so that Personio serves as a registration system for all human resources information and that the information is only to be entered once. "
In addition to "ready-to-use" third-party software integrations, Personio claims to be able to offer an HR operating system that is backed up by the company's open API, designed to cover a variety of business cases. use to access the data stored in Personio. more value for customers. This includes building an object as simple as a Slack robot using Personio data, allowing Personio to be connected to a company's data warehouse or strengthening integrations with internal systems.
In a more general way, Renner explains that this holistic approach, combined with the automation of Personio's workflow, which aims at reducing the time lost due to repetitive tasks, does not only resonate with HR managers and recruiters. who generally use the product several use with managers, executives and other employees. The end result is that HR and recruiting processes can become much more distributed across the enterprise.
To do this, Personio stated that its Series B financing would be used to help the company become the leading provider of human resource management software in Europe for SMEs. It has more than 1,000 customers in 35 countries and more than 150,000 employees and several hundred thousand candidates currently managed by Personio.
"We believe that the time has come for us to actively expand to other regions and that the funding and expertise of the index will certainly contribute to the success of this development," added the Managing Director of Personio. "Apart from that, we see ourselves as a product-oriented company and therefore want to continue to invest heavily in creating the best product for our customers, which will involve significant growth in our product and engineering team and even potentially 39; opening of a new office to facilitate recruitment ".
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