Factorial has just closed a $120M Series C round led by Atomico at a $1B valuation. We’re proud to announce we have once again participated in the round, as we have done since we first invested in Jordi, Bernat and Pau in the summer of 2018.
All the way from seed to Series C.
We believe that funding rounds are a means to an end and not ends in and of themselves, and this has been the case for Factorial for more than five years. This fresh round of funding will allow the company to double down on its mission to bring enterprise-level software to SMBs worldwide and help digitize an often underserved market.
Since 2019, Factorial’s customer base has grown from 70 to 7,000, and the company has seen over 200% annual revenue growth, establishing itself as the fastest growing company in the HR tech space. We’ve been lucky to have a front row seat for what has been a great journey so far, and one that we believe is just getting started.
With offices in Spain, Mexico, Brazil and most recently Miami, Factorial has built a strong customer base on both sides of the Atlantic, which correlates to the strategy of Leadwind, our recently launched growth fund backing the best B2B entrepreneurs in Southern Europe and Latam. This is Leadwind’s first publicly announced investment, and we’ve made two more investments to date.
What started as a simple but robust product focused on time management has expanded into a wide variety of features and products, bringing all the necessary solutions an HR team needs to effectively run a company under one roof.
With more than 60,000 users having used Factorial to date, the company sits on top of considerable quantities of valuable data that can be used to help companies make better decisions, and also to allow third parties to build complimentary products.
The latter also fits perfectly with Leadwind’s thesis, to back entrepreneurs building enabling technologies across Southern Europe and Latam upon which others can also build valuable third party use cases. We’re also big believers in involving our corporate partners in the success of our companies, and we can’t wait to bring Factorial to more SMBs in Mexico and Brazil with the help of Telefonica, BBVA and our other corporate partners.
The market opportunity remains considerable. The majority of companies continue to use email, spreadsheets and other legacy solutions to manage the day to day activities of their HR departments, from time management to onboarding, sick leave and payroll. Only 30% of SMBs admit to have used software to manage and recruit candidates. And the list goes on.
We believe that Factorial is in an excellent position to seize this market opportunity. The goal is clear, and this is another milestone on the path to improving the processes, tools and overall performance of SMBs from all around the world.
We’re firm believers that technology and entrepreneurship will become a source of economic growth for Spain, and scaleups will play a key role in this in the next decade. Factorial now joins a small group of Spanish startups that will probably have an impact in Barcelona and Spain for years to come.
Thank you for the ride, Jordi, Pau and Bernat!
Factorial has just closed a $120M Series C round led by Atomico at a $1B valuation. We’re proud to announce we have once again participated in the round, as we have done since we first invested in Jordi, Bernat and Pau in the summer of 2018.
All the way from seed to Series C.
We believe that funding rounds are a means to an end and not ends in and of themselves, and this has been the case for Factorial for more than five years. This fresh round of funding will allow the company to double down on its mission to bring enterprise-level software to SMBs worldwide and help digitize an often underserved market.
Since 2019, Factorial’s customer base has grown from 70 to 7,000, and the company has seen over 200% annual revenue growth, establishing itself as the fastest growing company in the HR tech space. We’ve been lucky to have a front row seat for what has been a great journey so far, and one that we believe is just getting started.
With offices in Spain, Mexico, Brazil and most recently Miami, Factorial has built a strong customer base on both sides of the Atlantic, which correlates to the strategy of Leadwind, our recently launched growth fund backing the best B2B entrepreneurs in Southern Europe and Latam. This is Leadwind’s first publicly announced investment, and we’ve made two more investments to date.
What started as a simple but robust product focused on time management has expanded into a wide variety of features and products, bringing all the necessary solutions an HR team needs to effectively run a company under one roof.
With more than 60,000 users having used Factorial to date, the company sits on top of considerable quantities of valuable data that can be used to help companies make better decisions, and also to allow third parties to build complimentary products.
The latter also fits perfectly with Leadwind’s thesis, to back entrepreneurs building enabling technologies across Southern Europe and Latam upon which others can also build valuable third party use cases. We’re also big believers in involving our corporate partners in the success of our companies, and we can’t wait to bring Factorial to more SMBs in Mexico and Brazil with the help of Telefonica, BBVA and our other corporate partners.
The market opportunity remains considerable. The majority of companies continue to use email, spreadsheets and other legacy solutions to manage the day to day activities of their HR departments, from time management to onboarding, sick leave and payroll. Only 30% of SMBs admit to have used software to manage and recruit candidates. And the list goes on.
We believe that Factorial is in an excellent position to seize this market opportunity. The goal is clear, and this is another milestone on the path to improving the processes, tools and overall performance of SMBs from all around the world.
We’re firm believers that technology and entrepreneurship will become a source of economic growth for Spain, and scaleups will play a key role in this in the next decade. Factorial now joins a small group of Spanish startups that will probably have an impact in Barcelona and Spain for years to come.
Thank you for the ride, Jordi, Pau and Bernat!
