I joined Forbes as the Europe News Editor and will be working with the London newsroom to define our coverage of emerging businesses and leaders across the UK and Europe. Prior to joining Forbes, I worked for the news agency Storyful as its Asia Editor working from its Hong Kong bureau, and as a Senior Editor in London, where I reported on breaking news stories from around the world, with a special focus on how misinformation and disinformation spreads on social media platforms. I started my career in London as a financial journalist with Citywire and my work has appeared in the BBC, Sunday Times, and many more UK publications. Email me story ideas, or tips, to [email protected], or Twitter @_iainmartin.
Personio CEO Hanno Renner says that investors are now focusing on business fundamentals over growth after raising an additional $200 million.As many startups struggle to raise additional funds or cut back on spending, some investors are looking to double down on earlier bets. San Fransisco-based venture fund Greenoaks Capital has led a new $200 million round for HR startup Personio valuing the company at $8.5 billion.
“We had the feeling that now was a good time with everything going on to prop up our balance sheet and be able to continue to make sensible investments over the coming years and be able to make the right decisions for the business,” says Renner. “What really changed there was much more focus on the fundamentals like sales, sustainability, and the efficiency of the business,” says Renner. “We were always strong on that but people didn’t care as much in the last couple of years and always cared about growth.”
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