Factorial is now a new European unicorn after closing a Series C investment round of $120 million with a valuation of $1 billion.
At Factorial, we are changing human resources with the aim of creating a present in which people come first. We are committed to growing in Spain and to strengthening our markets in Europe and America.
Putting the focus on people
“Human resources has gone from being focused solely on work to empowering and caring about people. Once achieved, SMBs will have a key strength: a close-knit, people-focused culture along with the development of their people.”
Jordi Romero, CEO of Factorial.
Our mission has been clear from the beginning: to automate human resources processes and centralise them in a tool so that time can be dedicated to what’s truly important, people. Why? Because we realised that small and medium-sized businesses needed to save time and money, but their talent and people management model was broken.
How? By devoting hours and resources to the manual management of documents, spreadsheets, physical paperwork and emails. Scheduling, absence management, and time tracking became unnecessarily long and bureaucratic internal processes.
With Factorial, we want to change this reality and provide small and medium-sized businesses with all the tools they need to stand out. Not only to optimise their processes but to develop the talent of their teams and have a great competitive value in each of their industries.
From 70 to 7,000 clients
In just three years, since 2019, we have grown 200%. We’ve gone from having 70 clients to 7,000 throughout nine markets worldwide. We started in Spain, but now have clients in countries like France, Italy, Portugal, Germany, The United Kingdom, The United States, Latin America, and Brazil.
We are the fastest-growing company in our industry, and this is just the beginning!
None of this would be possible without the growth of our team. There are now over 800 people, throughout our offices in Spain, Mexico and Brazil, who work every day to make this revolution in talent management a reality.
And we’re still growing! This new funding will allow us to strengthen our markets, expand globally, and enhance our abilities. We want to continue resolving people management problems because we want to make human resources even more human.
About this new round
This round has been led by Atomico, with the participation of GIC and all of our previous investors, including Tiger Global, CRV, K-Fund, and Creandum. Additionally, Atomico partner Luca Eisenstecken joins our board as a part of the investment.
The $120 million round is the fourth round that Factorial has received. Following the first round for 500,000 euros, the second round for 2.8 million euros, the third round for 15 million euros, and the fourth round for 67 million euros.
