Germany-based HR Tech company Personio has announced that it has secured $200 million in a Series E funding round led by Greenoaks Capital Management.

The latest injection follows a funding round in Oct. 2021, when the company raised another $270 million.

The funding will be used to expand the customer base, which now includes 6,000 companies with over 500,000 employees. Personio will also use the additional capital to further drive the development of People Workflow Automation, the company’s automatization tool for HR processes.

The latest funding has pushed the company’s value to $8.5 billion, up $2.2 billon from last year. Previous backers of the company include Meritech, Alkeon, Global Founders Capital, Altimeter, Lightspeed Capital, Index Ventures, Accel and Northzone.

Personio remains the second most valuable start-up in Germany behind Celonis, and is quickly catching up after the latest funding.

Founded in 2015 by Roman Schumacher, Arseniy Vershinin and Ignaz Forstmeier, Personio is headquartered in Munich. It is Europe’s leading provider of HR software for small and medium-sized enterprises (SMEs). The company offers a wide range of HR-related automation services, from recruitment and applicant tracking to on-boarding, payroll management, development and data analytics. It has expanded throughout Europe with offices in London, Dublin, Madrid and Amsterdam, and employs a team of 1,000.

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