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Total amount raised
$420M
Latest funding date
2025-03-19
Location
Factorial has successfully raised funding over 7 rounds, with the latest being a Debt Financing round. The company is backed by 13 investors, including General Catalyst as the most recent.
What Is Factorial?
Factorial, based in Barcelona, Catalonia, Spain, is a private company specializing in human resource management software. Founded to streamline HR processes, the platform automates tasks such as time tracking, payroll, and recruitment.
With a workforce of 501-1000 employees, Factorial serves over 15,000 businesses globally. The company leverages AI to enhance productivity and reduce administrative burdens, allowing managers to focus on strategic initiatives.
How Much Funding Has Factorial Raised?
- Angel Round
- Amount Raised: EUR 500,000 (approximately USD 500,000)
- Date: June 2017
- Lead Investors: Not publicly disclosed (investors included business angels and strategic funds)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their HR management platform.
- Seed Round
- Amount Raised: EUR 2,800,000 (approximately USD 3,200,000)
- Date: October 2018
- Lead Investors: Creandum
- Participants: K Fund, Point Nine Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: USD 16,000,000
- Date: April 2020
- Lead Investors: CRV (Charles River Ventures)
- Participants: Creandum, Point Nine, K Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series B
- Amount Raised: USD 80,000,000
- Date: September 2021
- Lead Investors: Tiger Global Management
- Participants: CRV, Creandum, Point Nine Capital, K Fund
- Valuation at Round: USD 500,000,000
- Motivation Behind the Round: To enhance product features and expand globally.
- Series C
- Amount Raised: USD 120,000,000
- Date: October 2022
- Lead Investors: Atomico
- Participants: GIC, Tiger Global Management, CRV, K Fund, Creandum
- Valuation at Round: USD 1,000,000,000
- Motivation Behind the Round: To expand product offerings, scale operations, and enter new markets.
- Debt Financing (April 2024)
- Amount Raised: USD 80,000,000
- Date: April 2024
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Non-dilutive go-to-market investment to accelerate growth and sales strategy without diluting existing shareholders.
- Debt Financing (March 2025)
- Amount Raised: USD 120,000,000
- Date: March 19, 2025
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Non-dilutive loan to fund go-to-market (sales and marketing) activities, expand into Germany, France, and Italy, and scale the team. Brings General Catalyst's total non-dilutive investment in Factorial to USD 200,000,000.
Total Amount Raised: USD 419,500,000 (based on disclosed funding across all rounds). Current Valuation: USD 1 billion (as of Series C, October 2022).
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, and financial services.
- Notable Investments: Airbnb, Stripe, and Snap.
- Atomico
- Details: Atomico is a venture capital firm that invests in innovative technology companies. They focus on companies with the potential for significant global impact.
- Investment Focus Areas: Technology, software, and innovative startups.
- Notable Investments: Klarna, Lilium, and Pipedrive.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries.
- Investment Focus Areas: Internet, software, consumer, and financial technology.
- Notable Investments: Facebook, LinkedIn, and Spotify.
- CRV (Charles River Ventures)
- Details: CRV is a venture capital firm that invests in early-stage technology companies. They have a long history of successful investments in various tech sectors.
- Investment Focus Areas: Enterprise software, consumer tech, and biotech.
- Notable Investments: Twitter, DoorDash, and Zendesk.
- Creandum
- Details: Creandum is a European venture capital firm that invests in innovative and fast-growing technology companies. They are known for their investments in companies that have the potential to become market leaders.
- Investment Focus Areas: Technology, software, and digital startups.
- Notable Investments: Spotify, iZettle, and Klarna.
What's Next for Factorial?
Factorial's future is brimming with opportunities, particularly in expanding its market presence and enhancing its product offerings. With plans to open a new office in Miami and scale operations in existing markets like Brazil, the company is poised to tap into a significant market of over 10 million SMEs in Europe and the Americas. This expansion could potentially double its workforce, indicating substantial growth potential.
Given the successful Series C funding round and the company's impressive growth metrics, future fundraising opportunities seem promising. Factorial may attract further investment to support its aggressive expansion plans and possibly even consider an IPO. However, the company will need to navigate challenges such as competition from other HR software providers and managing rapid growth while maintaining service quality.
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