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Factorial HR

Factorial HR is a human resources software as a service founded in 2016 by Jordi Romero and Bernart Farrero, and based in Barcelona, Spain. Factorial HR is a human resources software as a service technology company founded in 2016 by Jordi Romero and Bernart Farrero, and based in Barcelona, Spain.

History

Factorial HR was founded in 2016 with the mission to streamline human resource management for small and medium-sized enterprises. The company specializes in providing an HR software platform, offering solutions that enable businesses to make data-driven decisions and focus more on people management rather than paperwork​​.

Significant milestones in the company's history include:

April 2020: Factorial HR raised $16 million in a Series A round.*4 This round was led by CRV (venture capital firm), an investor in tech giants like Twitter, Dropbox, and over 70 IPOs​​. *5

September 2021: The company closed an $80 million Series B round, led by Tiger Global Management and with participation from previous investors.*6 This brought the total funding amount to $100 million, allowing the company to invest in product development, grow its team, and continue its expansion into international markets​​​​ *7

October 2022: Factorial HR raised $120 million in a Series C round, which brought the company to a valuation of $1 billion, becoming officially an unicorn *7. Since 2019, the company has grown its customer base from 70 to 7,000, and its annual revenue has seen over 200% growth *8. This funding was earmarked for further expansion into new markets, including opening offices in the United States and Brazil​​​​ *9

Factorial HR's growth and development have made it a key player in the HR software market, serving thousands of clients in more than 65 countries and being ranked among the Top 10 most promising startup companies in Europe​​. *10

Products and Services

Factorial HR offers a comprehensive suite of human resources software solutions designed to streamline various HR processes for small to medium-sized businesses. *11 Their services include:

Time Management System: Tools for managing employee time-off requests, tracking work hours, and scheduling shifts. *12

Talent Management System: Solutions for tracking employee performance, recruiting and onboarding, and managing goals and OKRs. *13

Payroll: Features for payroll preparation and review, including electronic signatures for legal documents. *14

Expenses: Tools for managing expenses and providing real-time management through corporate cards. *15

Additional Features: A document manager, employee portal, HR reports and KPIs, organizational chart, communications, and events management, and automation capabilities. *16

Acquisition and Partnerships

Acquisition of Fuell: Factorial HR expanded into the expense management market by acquiring Fuell, a company backed by Y Combinator. This acquisition was part of Factorial’s strategy to offer a more comprehensive suite of HR tools​​.*17

Partnership with Cimplx: The company announced a partnership with Cimplx, aimed at enhancing payroll and benefits management. This collaboration reflects Factorial's commitment to providing integrated and efficient payroll solutions​​. *18

Collaboration with AUXO: Factorial teamed up with AUXO to share key hiring strategies for startups in 2023. This partnership focused on addressing talent acquisition challenges, especially for emerging companies​​. *19

Expansion into North America: Marking its growth strategy, Factorial expanded its presence in North America, with Miami chosen as its new location. This expansion represents a significant step in Factorial’s global market strategy​​. *20

Recognition and Awards

Factorial HR has achieved notable recognition in the HR software industry, marked by various awards and accolades:

Top HR Software: Factorial HR has been recognized as one of the Top HR Software providers. This award underscores the company's excellence in delivering comprehensive HR solutions and its commitment to innovation in the human resources technology space​​. *21

Top Small Business HR Software: Additionally, the company has been distinguished as a leading provider of HR software for small businesses. This recognition highlights Factorial HR's ability to cater to the unique needs of small to medium-sized enterprises, offering user-friendly and efficient HR management tools​​. *22

External Links

Provide links to major news articles and press releases about Factorial HR. For instance:

Articles on its North American expansion​​.

Press releases about new partnerships and acquisitions​​.