Hogan Lovells advises Personio on another financing round at a valuation of over six billion dollars

Press releases | 13 October 2021

Led by its Munich partner Volker Geyrhalter and senior associate Cornelius Naumann, Hogan Lovells has advised HR software provider Personio on another financing round. The Munich-based company raised an additional $270 million, making it the second most valuable German start-up - with a valuation of more than six billion dollars.

Investors include Greenoaks Capital, Altimeter and Alkeon Capital, as well as existing investors Index Ventures, Accel, Meritech, Lightspeed, Northzone and Global Founders Capital.

Just in January, the six-year-old company had risen to an unicorn valuation of $1.7 billion. The fresh money will be used to expand the business model. It plans to introduce a new HR software category, People Workflow Automation. It will allow small and midsize companies to transform manual and fragmented HR processes involving multiple tools and teams into automated workflows. Companies can thus work faster and avoid delays.

Volker Geyrhalter commented as follows:

"We are very proud to have legally accompanied Personio's incredible growth story into a true European Champion since the seed funding round in 2016."

Hogan Lovells Team for Personio GmbH

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).