To ensure the most secure and best overall experience on our website we recommend the latest versions of Chrome, Edge, Firefox, or Safari. Internet Explorer will not be supported as of August 17, 2021. Catering exclusively to this market need, Factorial has been able to establish itself as a strong player in the international arena.
Although Factorial uses more than three dozen technology services, it’s managed to keep its IT expenses at a minimum. It’s projected that Factorial will spend $27.2K on its IT overhead for 2021. While it’s in the tens of thousands, it’s a lot less than many other large companies, that often spend in the hundreds of thousands annually, or even millions. The increasing adoption of cloud-based workforce management solutions across verticals is driving market growth.
Factorial serves over 75,000 customers as of September of 2021. These customers are distributed throughout 65 countries throughout the world. They also add that each customer represents approximately 100 employees, however, the range can be from a few workers up to 1,000.
It helps to level the playing field by making them more competitive and better able to manage tasks using fewer company resources. In short, the platform helps them to save money in overhead expenses for staffing and other budget items. In this regard, Factorial is very good for small to medium-sized businesses. Factorial is listed across seven different industries on the internet. This suggests that its products and services are multi-faceted and versatile. It is categorized as a business information systems company that provides B2B products and services.
Peter currently serves on seven boards of directors in advisory roles. He currently serves on one board of directors in an advisory role. The Barcelona-based company has become a unicorn after raising a new deal led by Atomico. Factorial’s revenue has grown 3x year-over-year, and it currently has a team of 253 employees. Factorial claims to be addressing two interconnected issues that small and growing businesses all over the world face.
During the last year, Factorial has tripled its revenues, growing from a team of 39 in 2019 to 253 today. Factorial, which serves thousands of clients in more than 65 countries, has been ranked among the Top 10 most promising startups in Europe. With the new funds, Factorial will expand to new markets, opening offices in the USA and Brazil. From its Barcelona roots, Factorial has grown its customer base from 70 to 7,000 since 2019, spanning nine global markets and making Factorial probably the fastest-growing company in the industry. The round was led by Atomico, with participation from GIC and all previous investors including Tiger Global, CRV, K-Fund and Creandum.
The volume of web traffic has resulted in Factorial achieving the rank of number 171,244 of the millions of websites registered on the world wide web. Additionally, the capital will also help expand the company’s product depth and feature range, thereby solving more problems related to people management for SMBs. By automating and centralising processes such as recruiting, onboarding, absence management, payroll, and time tracking, Factorial claims to help companies reduce up to one week of repetitive, administrative tasks per month. And as part of this deal, Atomico’s partner, Luca Eisenstecken, has joined the Factorial board. Additionally, GIC and all previous investors, including Tiger Global, CRV, K-Fund, and Creandum, also participated in the round. The investment, which gave the company “unicorn” status, will be mainly used to expand its operations in Brazil, a market that currently accounts for 10% of Factorial’s 7,000 corporate clients.
HR software startup Factorial has raised $120 million at a $1 billion valuation. The software enables the automation of HR processes, like time and talent management, and it also features legal and financial support. By consolidating all HR functions under one roof, Factorial claims that its offering makes every HR feature 10x more powerful and 10x more seamless . For instance, having time tracking automatically connected to compensation, performance management zuckerberg facebook apple idfa facebook shops and payroll becomes easy when all the features are in the same SaaS platform. The Series B is being led by Tiger Global, and past investors CRV, Creandum, Point Nine and K Fund are also participating, at a valuation we understand from sources to be in the region of $500 million post-money. Factorial has raised $100 million to date, including a $16 million Series A round in early 2020, just ahead of the COVID-19 pandemic really taking hold of the world.