Spanish software unicorn Factorial has secured a significant €75M funding from General Catalyst, leveraging this capital to maintain robust growth as it aims for financial self-sufficiency.
With its new funding, Factorial plans to accelerate its expansion efforts and further its product development, aiming to solidify its presence in the SMB market. This strategic move is backed by General Catalyst’s Customer Value strategy, emphasizing sustainable, efficient growth without the immediate need for further equity financing.
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Empowering SMBs with Streamlined HR Solutions
Founded in 2016, Factorial simplifies HR processes for small and medium-sized businesses worldwide. By integrating functionalities like payroll, time tracking, and performance management into one platform, the firm boosts efficiency and data-driven decision-making, significantly reducing administrative burdens. The recent investment will enable the software company to enhance its offerings, ensuring seamless HR operations for a rapidly growing client base, now exceeding 10,000 companies across nine countries.
The injection of funds will also support the unicorns strategic initiatives, particularly in sales and marketing, as noted by Factorial’s CFO, Moran Laufer. This approach will enable accelerated customer acquisition in a capital-efficient manner, aiming to double the return on equity for investors.
Additionally, the company’s focus on building great products and helping more customers will benefit from the financial flexibility afforded by this partnership, eliminating the immediate need for further fundraising and allowing the team to focus on core product offerings and market expansion.
