{Disarmed} Factorial closes an investment of 100 million dollars: the Spanish HR management startup prepares to double its workforce and go public

Factorial closes an investment of 100 million dollars: the Spanish HR management startup prepares to double its workforce and go public

Five years after being founded by Jordi Romero, Bernat Farrero and Pau Ramón with the aim of becoming the benchmark human resources software for startups and SMEs, Factorial has just closed a Series B financing round of one hundred million dollars .

The main player in this round is Tiger Global Management , with 80 million dollars. To these must be added those contributed by previous investors in the firm, such as CRV, Creandum, Point Nine Capital, Columbia Lake Partners and K Fund.

Six web tools for managing employees, absences and payroll In xiaomist.com Six web tools for managing employees, absences and payroll

120 million in 2021

This operation comes just a few months after Factorail also closed a Series A worth $ 16 million at the beginning of the year . That operation was led by CRV , which has invested in technology companies such as Twitter or Dropbox.

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Also in April of this year they closed another round, of 2.8 million euros in which the international funds Creandum and Point Nine Capital participated (investors of companies such as Spotify and Typeform, respectively) and in the Spanish fund K fund that joined to the 500,000 euros that he already raised a little over a year ago from several local businessmen.

In this way, the company has accumulated more than 120 million dollars in investment so far in 2021. Meanwhile, other Spanish startups, such as JobandTalent, have also closed financing rounds of one hundred million dollars in 2021 .

What is Factorial

Factorial is an online software for human resources management for small and medium-sized companies . Its objective is to help those responsible for managing teams to automate the heaviest tasks and optimize their time when managing vacations, leave and absences of employees, documentation of employees; contracts, payroll, identity documents and optimize the salary of employees with flexible compensation plans and benefits.

The company is focused on the SME market because, it says, they manage their teams without any information or technology to guide them. "Our mission is to help these organizations to work more strategically", defends the company.

Factorial 2021

Last year the company opted for the internationalization of its business , expanding to Europe, Latin America and the United States. Factorial went from having 39 employees in 2019 to 253 today.

Factorial, which has just opened an office in Mexico, announces that part of the money received in this round will be used to open new branches in Brazil and the United States , as well as to hire more personnel, from product designers and engineers, as well as people marketing, sales and customer experience. F actorial expects to double its workforce in the coming months .

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IPO

In addition, Factorial ensures that its main objective is to reach the stock market at some point and be a listed company. In fact, Tiger is a company that is dedicated to investing in private companies that are in a growth stage and that plan to go public in the next few years.

It would not be the first IPO of a Spanish startup. In May of this year when another Spanish startup, Flywire, managed to be the first to be listed on Nasdaq .

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The Factorial news closes an investment of 100 million dollars: the Spanish HR management startup is preparing to double its workforce and go public was originally published in xiaomist.com by Arantxa Herranz .

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