Barcelona-based HR software firm Factorial has raised an additional $120 million, increasing General Catalyst’s total investment in Factorial from $80 million to $200 million. This funding will help expand Factorial’s operations, with a focus on geographic growth in Germany, France, and Italy.
- Founded in 2016 by Jordi Romero and Bernat Farrero, Factorial is a company that began as an HR software provider and has since evolved into a comprehensive business management platform.
- The company offers a broad range of tools designed to automate administrative tasks and streamline operations, including time management, payroll, recruitment, talent management, document storage, and analytics.
- Factorial’s platform consolidates various business processes into a single, user-friendly interface. Along with HR functions, it now also features tools for project management, training, and expense management. In 2024, the company reported that its client base has grown to over 13,000 businesses, reflecting its continued expansion and success.
Details of the deal
- The funding round came from General Catalyst is a venture capital firm based in San Francisco, managing over $32 billion in assets. With offices in cities like New York, Boston, Berlin, Bangalore, and London, the firm has made notable investments in companies such as Airbnb, Gusto, Stripe, and Snap.
“From our perspective, it’s rare to see a company grow as fast and efficiently as Factorial did in 2024. Their ability to scale sustainably while staying at the forefront of innovation made this an easy decision for us. We’re doubling down on our investment and are excited to fuel Factorial’s next phase of growth," claims Pranav Singhvi, General Catalyst’s Managing Director.
- Factorial plans to use the $120 million to expand in Germany, France, and Italy, continue developing new products like Project Management, Training, and Expense Management, and scale its team by hiring 50 people per week to grow from 900 to 1,300 employees.
“Factorial’s efficient and predictable growth enables us to pursue ambitious expansion without diluting our shareholders – making us a rare company that is both hyper-growth and financially sustainable," says Jordi Romero, CEO and co-founder of Factorial.
