Factorial is a Spanish company dedicated to the digitization of human resources processes. The organization has software that It turns endless, manual, and complicated processes into unified, useful, and effective ones. The objective is that, in addition to managing people, the departments of the sector can aspire to get the best of them.
Through its product, Factorial aims to achieve an improvement in decision-making through the process automation. This affects both payroll, time management, signatures or onboarding. It also offers plans for all budgets, with 14-day trial periods that do not include any type of permanence.
Currently, more than 7,000 companies work with them. It must be remembered that four years ago, in 2o23, they had only 70 clients. Its short-term objective is to advance in the digitization of all processes in the sector: payroll, hiring, control of schedules, absences, vacations, schedules or teleworking.
The use of this software replace manual labor and it is heading towards the new model to which the sector is heading, characterized by putting people at the center and not limiting itself solely to strictly labor matters.
Its use is focused on facilitating the work of SMEs, which on many occasions do not hire human resources personnel until more advanced stages, so its use, in a context of hybrid work, can help smaller companies to have a factor differentiator.
The company was founded in Barcelona in 2016 for Pau Ramón, Bernat Farrero and Jordi Romero, where it is still based. In Spain they also have offices in Las Palmas, Vigo and Ponferrada. Outside our country, they are present in Mexico, Brazil, the United States, the Dominican Republic and Mozambique.
industry unicorn
Factorial managed to close in October 2022 an investment round of 123.4 million euros, which put the company’s valuation at $1 billion, making it a unicorn in the industry.
This round was led by the company specialized in technology companies, Atomico, allowing its partner, Luka Eisenstecken to join the Factorial board. The GIC Fund and other previous investors have also joined it, such as Tiger Global Management, CRV, Creandum, Point Nine Capital, Columbia Lake Partners and K Fund.
