This Series B round brings Factorial's total funding to $100.1M. Here are the top-line bullets you need to know.
Factorial, an HR management software developer, has raised $80M in a Series B. The round drew participation from Creandum, Point Nine Capital, CRV, and Tiger Global Management, among others.
HOW’S THE COMPANY PERFORMING?
- Barcelona-based Factorial provides SMEs with software for workforce management.
- The software enables the automation of HR processes, like time and talent management, and it also features legal and financial support.
- Factorial’s revenue has grown 3x year-over-year, and it currently has a team of 253 employees.
- Factorial maintains a presence in over 65 countries and has over 75,000 clients, including KFC, Booking.com, and Whisbi.
WHY DOES THE MARKET MATTER?
- The global market for workforce management solutions is projected to grow at a CAGR of 9.3% to reach a value of $9.3B by 2025, according to Markets and Markets.
- The increasing adoption of cloud-based workforce management solutions across verticals is driving market growth.