Factorial is committed to changing the way SMEs make decisions. We do so by automating HR processes and providing insights into the organisation. That’s why we’re thrilled to announce that we have closed an $80 million Series B funding round led by Tiger Global Management, with participation from previous investors CRV, Creandum, Point Nine Capital, and K Fund, bringing the total funding amount to $100 million.
This is not the first time Factorial has attracted a global leader in growth-stage capital. This round comes on the heels of our 2020 $16 million Series A led by CRV, an investor in tech giants like Twitter, Dropbox, and over 70 IPOs.
Series B Funding – Tiger Global Management
Tiger is an expert in public markets, focused on investing in growth-stage private companies set to go public in the coming years. This investment from Tiger, a globally-minded firm changing venture capital, emphasises the size of the opportunity at hand.
Businesses all over the world need to take advantage of data in order to transform the way that they make decisions. Too many SMEs manage their teams without any information or technology to guide them. Our mission is to help these organisations work more strategically.
Last year, we expanded our customer base across Europe and in Latin and North America— during a pandemic, no less. Our team grew from 39 in 2019 to 253 today and we opened a new office in Mexico City to meet growing demand.
In all honestly, we weren’t looking to raise money when we got approached by Tiger. But as soon as they reached out we felt immediately connected to their ambition. We also saw their potential in assisting us in becoming a public company one day (knock on wood).
With the support of Tiger as well as renewed contributions from our existing investors, we will open offices in Brazil and North America. We will also continue expanding our tools to become a true all-in-one people data platform that organisations can use to grow their businesses.
To do this, we will be hiring product designers and software engineers and scaling our marketing, sales, and customer experience teams. We expect to double our headcount within the next few months.
Thank You, Truly
What a ride! It’s been the craziest time of our lives. We would like to thank our customers for believing in us, sharing their pains with us, and growing alongside us; our investors, who have supported us and helped us realise our vision; our partners, who have stood beside us; and our team at Factorial which is endlessly creative, inspirational, hardworking, and fun.
If you are also creative, inspirational, hardworking, and fun, join us in our mission to automate HR administration and democratise data. We are hiring across all teams.
If you want to read more about our latest investment round, you can go to the following websites:
- Tiger Global Management
- CRV Insights
Do you belong to a media outlet? Would you like to know more about Factorial’s story? If so, simply send us an email and we’ll be happy to answer your questions!