Factorial closes an investment round of 120 million and reaches 800 employees

The startup, Factorial, recently announced the closing of a series C financing round $120 million with a valuation of 1,000 million. This round has been led by Atomico, with the participation of GIC and all previous investors, including Tiger Global, CRV, K-Fund and Creandum, and makes Factorial in the new unicorn of Europe. Atomico partner Luca Eisenstecken joins the board as part of the investment.

The company founded in Barcelona has experienced an annual growth of more than 200% in annual revenues since 2019. The growth of Factorial, which with this latest round becomes the new European unicorn, has tripled since its Series B round in 2021, up to 800 professionals distributed among its offices in Brazil, Mexico and Spain.

An HR solution

Factorial’s HR software is uniquely addressing two issues facing SMEs around the world.

First, small and medium-sized businesses don’t hire human resources staff until a later stage. This takes its toll since the increase in hybrid work, telecommuting, the shortage of personnel, resources and the need to attract and retain qualified talent means that SMEs need a competitive value without forgetting to put people management at the center.

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Factorial is a very useful tool for anyone because you have your contracts, vacations, absence requests or work shifts at hand. In addition, not having to manage these tasks by managers has saved us time and money.

«The human Resources they have experienced a change in all sectors: they have gone from being solely focused on work to empowering and caring about the people who work in the company. If you achieve this, you get a key strength for SMEs: a close and people-focused culture that many workers seek”, said the CEO and founder of Factorial, Jordi Romero. «We are proud to partner with Luca and the team at Atomico, a company that truly cares about making sure the next big tech company emerges from Europe, to address this massive shift from SMEs looking for HR software built just for them. Factorial is uniquely positioned to serve this ever-expanding, untapped market.”

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