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Personio GmbH, a software-as-a-service startup that enables human resources teams to perform tasks such as recruiting with less manual work, has closed $125 million in new funding at a $1.7 billion valuation.
The newly minted unicorn disclosed the financing round today. Index Ventures was the lead investor, with Accel, Lightspeed Venture Partners, Meritech Capital and several other institutional backers participating as well.
London-based Personio’s namesake HR platform primarily targets businesses in Europe with up to 2,000 employees. The startup has landed about 3,000 customers in this segment so far and, along with its investors, it sees even bigger revenue opportunities ahead. “SMEs are the backbone of the European economy, employing 100 million people across the continent, but it is also a sector that has been neglected by software companies focused predominantly on large enterprises,” said Index Ventures partner Martin Mignot, who has joined Personio’s board.
Venture capital firm Index Ventures has rated three Baltic nations as the most "startup-friendly" in Europe after new policies on stock options made it easier for startups to attract and retain employees.
Analysis: From famine to feast, investment in European tech startups roars back Toggle share menu
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Analysis: From famine to feast, investment in European tech startups roars back With Europe in coronavirus lockdown, venture capital fund manager Fergal Mullen told his investors in April he would find it hard to back a startup without first meeting its founders.
FILE PHOTO: Highland Europe co-founder and partner Fergal Mullen poses in Geneva, Switzerland in this handout photo taken on June 13, 2018. Oliver O Hanlon/Handout via REUTERS/File photo
22 Dec 2020 03:15PM Share this content
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BERLIN: With Europe in coronavirus lockdown, venture capital fund manager Fergal Mullen told his investors in April he would find it hard to back a startup without first meeting its founders.
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BERLIN With Europe in coronavirus lockdown, venture capital fund manager Fergal Mullen told his investors in April he would find it hard to back a startup without first meeting its founders.
A couple of months later, the Geneva-based co-founder and partner of Highland Europe broke his own promise and invested in Meditopia, a mindfulness app with teams in Berlin and Istanbul that he got to know over some 40 calls on video app Zoom.
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