Total amount raised
$299.9 Millions
Latest funding date
4/1/2024
Location
Factorial has successfully raised $120 million in its latest funding round, achieving unicorn status. The platform offers comprehensive human resource management solutions, automating processes like time tracking, payroll, and recruitment.
Keep reading to explore the intricacies of Factorial's fundraising journey and the investors backing this innovative platform.
What Is Factorial?
Founded in 2016, Factorial is a human resources company based in Barcelona, Spain. The company was established by Bernat Farrero, Jordi Romero, and Pau Ramon.
Factorial offers an all-in-one HR software solution that automates various HR processes, including time management, payroll, and recruitment. This platform aims to streamline administrative tasks and centralize HR operations.
With a team of 501-1000 employees, Factorial has grown rapidly, becoming a key player in the HR tech industry.
How Much Funding Has Factorial Raised?
- Angel Round
- Amount Raised: €500K
- Date: June 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their HR software platform.
- Seed Round
- Amount Raised: €2.8M
- Date: October 2018
- Lead Investors: Creandum
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: €15M
- Date: April 2020
- Lead Investors: CRV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features.
- Series B
- Amount Raised: $80M
- Date: September 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and grow the customer base.
- Series C
- Amount Raised: $120M
- Date: October 2022
- Lead Investors: Atomico
- Valuation at Round: $1 billion
- Motivation Behind the Round: To expand functionalities, strengthen market presence, and open a new office in Miami.
- Debt Financing
- Amount Raised: €74.5M
- Date: April 2024
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational expansion.
Factorial has raised a total of $300.5 million in funding. The current valuation is $1 billion.
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Technology, healthcare, consumer, enterprise sectors.
- Notable Investments: Airbnb, Stripe, Snap Inc.
- Atomico
- Details: Atomico is a European venture capital firm that invests in technology companies. They focus on companies with the potential for significant growth and innovation.
- Investment Focus Areas: Technology startups, particularly in Europe.
- Notable Investments: Klarna, Supercell, Lilium.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries. They are known for their aggressive investment strategy.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- CRV
- Details: CRV, also known as Charles River Ventures, is a venture capital firm that invests in early-stage technology companies. They have a long history of successful investments in the tech sector.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Twitter, DoorDash, Zendesk.
- Creandum
- Details: Creandum is a European venture capital firm that invests in innovative and fast-growing technology companies. They have a strong presence in the European tech ecosystem.
- Investment Focus Areas: Innovative technology companies, primarily in Europe.
- Notable Investments: Spotify, iZettle, Klarna.
What's Next for Factorial?
Factorial's future is brimming with opportunities. The company plans to expand its product functionalities and strengthen its presence in existing markets like Spain, the US, and Brazil. With a new office in Miami, Factorial aims to tap into the vast US market, which could significantly boost its customer base. The potential to serve over 10 million SMEs in Europe and the Americas highlights the immense growth prospects.
Given its impressive growth trajectory and recent $120 million Series C funding, Factorial is well-positioned for future fundraising rounds. These funds could support further expansion and product development, making the company an attractive target for investors. However, challenges such as competition from other HR software providers and managing rapid growth could pose hurdles. Navigating different regulatory environments and maintaining service quality will be crucial as Factorial scales its operations globally.
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