By Annie Musgrove
Munich-based Personio, an HR software for small and medium-sized businesses, has secured a $75 million Series C round led by Accel. The round was also supported by Lightspeed Venture Partners, Lars Dalgaard, and previous investors such as Index Ventures, Northzone, Global Founders Capital, and Picus Capital.
The Bavarian startup has developed a cloud-based software that helps small and medium-sized businesses manage their people operations, such as recruiting, payroll, and other personnel administration. Used by almost 2,000 customers in more than 40 countries, the software continues to expand into more European markets.