Barcelona-based Factorial bags over €120 million
Barcelona-based Factorial, a HR and payroll software company, has recently secured €120 million in venture capital funding. The round was led by Atomico and saw participation from Spark Capital, FJ Labs and Accel.
Factorial’s software is designed to help companies manage their HR and payroll processes, offering services such as employee onboarding, timesheets, and payroll from a single platform.
This article will explore Factorial’s funding, products and services, and why this Barcelona-based company is emerging as a leader in HR and payroll software.
Overview of Factorial
Factorial is an intuitive and comprehensive HR & payroll software that simplifies the HR administrative process. It is designed to integrate easily with existing accounting processes, provide increased visibility to employees and employers alike and automate core tasks, leaving clients more time for strategic functions that drive business success.
Factorial’s features include:
- Employee database which stores information about each employee and allows for a setup of individual profiles;
- Vacation request tracking;
- Automated leave control system;
- Salary & bonus management;
- Customised reporting capabilities;
- Performance evaluations tool;
- Time tracking analytics.
Factorial provides a complete solution for companies of all sizes. The software offers worldwide payroll compliance, proactive tax advisory and support for multiple global currencies. Factorial also connects with a wide range of partners allowing clients to access premium value add services from multiple channels.
Barcelona-based Factorial is a HR and payroll software company that has recently secured over €120 million in a Series B funding round. The company offers its customers a comprehensive suite of HR and payroll solutions, designed to streamline administrative HR processes and increase productivity.
Factorial is an intuitive and comprehensive HR & payroll software that simplifies the HR administrative process.
This article will explore Factorial’s business model and what makes it so successful.
Overview of Factorial’s business model
Factorial is a complete HR and payroll software solution that helps businesses automate their HR operations with an intuitive workflow. With the comprehensive suite of packages, employers can easily handle employee records, timesheets, onboarding and off-boarding processes, benefits and perks management, payroll calculation, taxes and labor law compliance checks. The solution also helps employers define key performance metrics for their workforce to measure actions and productivity in real-time.
Factorial’s business model follows the Software as a Service (SaaS) approach that involves two major components: subscription clientship service and data services platform. The company provides its services in three different membership models – Essentials (monthly or annual plans), Pro (annual or bi-annual plans) and Enterprise (customizable subscription plans).
By providing a multiplatform system to its customers – desktop application through web browser and mobile applications – Factorial simplifies HR processes for companies regardless of their size or industry sector. This keeps businesses competitive in highly competitive markets by providing tools to stay up-to-date with regulations and automating laborious tasks related to managing personnel records. Ultimately, our business model provides companies with an easy-to-use service that reduces paperwork while staying on top of the many rules dictating human resources operations within their market area.
Details of Factorial’s services
Factorial is a Human Resources (HR) and Payroll Software company that provides all-in-one solutions to help organisations manage their HR and payroll processes. Their services include digital employee onboarding, time tracking, benefits administration, payroll processing, payroll reports generation, analytics and data-driven insights into the HR processes of their customers.
The software offers cloud-based solutions for businesses of varying sizes from startups to small, medium and large enterprises. The customer base ranges from Fortune 500s to SMEs or startup companies. It also offers an open API for companies that need customised solutions to fit their particular requirements or workflows.
Factorial allows its customers to access a control panel for easy access to customizable tools for managing employee onboarding process and attendance tracking system as well as flexible leave management solution with unlimited user permits; pay slips generation; generate automated payroll reports; automate benefits administration process; develop personalised dashboards with insightful analytics; generate real time payslip calculator; enjoy centralised secure data storage facility, document management system and much more beneficial features.
In addition to the features mentioned above, Factorial also enables business owners & HR professionals access self service portal with powerful integrations such as Slack where employees can view & approve holidays and leaves in real time and access timely notifications on holidays & leaves allowances etc.. In addition, Factorial also offers customizable plans built around specific client requirements and an experienced customer-centric, around-the-clock support team offering excellent customer service.
Barcelona-based Factorial, a HR and payroll software company, recently secured an impressive €120 million Series B funding. Accel, Nauta Capital, Seaya Ventures, and Sunstone supported the Series B funding round. This marks one of a Spanish startup’s largest Series B rounds ever raised.
With this investment, Factorial aims to accelerate their growth in the HR and payroll software space.
Overview of Factorial’s recent funding
Factorial is a Spanish HR & payroll software company that provides businesses with automated human resources and payroll management solutions, allowing companies to focus more on growing their business than managing paperwork.
Founded in 2015 by Xavi Vera, Sergio Delgado, and Roberto Belles, the company raised its first venture round of $2.7M in 2018 led by Middle Game Ventures. This capital allowed Factorial to further develop its product portfolio and increase user acquisition.
In 2019, Factorial announced a new $14M financing round led by Insight Partners with follow-on investments from Antai Venture Builder, Faubel Participaciones and various other venture firms. This additional capital allowed Factorial to expand its presence globally and scale its operations faster than ever.
In December 2020, Factorial announced a new strategic partnership with Accel and an additional $30M funding round from Accel and Insight Partners. The partnership will see both companies optimise their products and resources across four key markets – UK, France, the United States and Latin America – to create unified approaches for customers’ global HR needs.
To date Factorial has raised over $47 million in total funding from some of the most prominent venture firms in Europe including Atomico Ventures, Team Europe Ventures and Nauta Capital. In addition, since 2018 they have grown exponentially – launching operations across 15 countries while achieving impressive year-over-year growth rates in revenue and employee headcounts across all markets they currently serve.
Details of the investment
In June 2019, Factorial announced that it had raised €4 million in a Series A funding round, which K Fund led. The Spanish venture capital fund specialises in supporting early-stage technology companies and strategic investments from FJ Labs and other angel investors. The company has now secured more than €5 million since being founded in 2017.
The funding will continue the rapid expansion of Factorial’s global team and accelerate market penetration of its smart HR & payroll platform for SMEs. The platform helps customers attract, engage and retain employees through a streamlined HR system. In addition, by facilitating the paperless payroll process and ensuring that all data is archived securely, Factorial helps reduce operational costs while increasing audit security for customers across Europe.
Since launching its product line at the end of 2018, including a feature-rich HR software suite, payroll automation solution and an applicant tracking system (ATS), Factorial has rapidly risen as one of the most popular solutions among SMEs in Europe today. This success continues despite the prevalence of larger competitors – such as Oracle and SAP – who are aggressively marketing their products to European businesses.
By providing a multiplatform system to its customers – desktop application through web browser and mobile applications – Factorial simplifies HR processes for companies regardless of their size or industry sector.
With this new investment, Factorial plans to double its growth rate through 2020 by expanding into additional countries with localised solutions for each market – Japan being at the top of the list – while continuing to deepen its existing presence throughout Germany, Spain, Portugal and France.
Barcelona-based Factorial, a HR and payroll software company, has announced that it has completed a Series C funding round of €120 million.
This marks a significant milestone for the company, as it is looking to expand its operations and reach more customers worldwide.
This funding will enable Factorial to invest in new technologies and products and hire more talent to join the team. This article will look at Factorial’s expansion plans and how it plans to use the funding it has raised.
Overview of Factorial’s expansion plans
Factorial is an all-in-one HR and payroll software company that aims to bring modern, intuitive software solutions to small and medium sized businesses. Since its inception in 2018, Factorial has quickly grown to serve over 3000 customers of all shapes and sizes. As the business grows and more people use its products, Factorial is constantly looking for new ways to expand its services.
The company’s plans for expansion involve both short-term strategies and long-term objectives. In the short term, Factorial would like to increase its reach nationally by expanding its customer base first across Europe and then the United States. To do this effectively, Factorial must continue optimising its product with new features, increasing reliability and providing robust customer support from knowledgeable agents that require minimal training.
In the long term, Factorial plans to expand into new markets including Asia Pacific countries like Japan or Korea where there is an increasing demand for their products. To succeed in these markets however they need to customise their features according to local regulations and build brand recognition in each market – which involves creating localised user interfaces and providing bilingual customer service options via live chat or phone. They are also exploring potential partnerships with larger companies within these areas, allowing them to expand more quickly into international waters while maintaining their commitment to quality solutions at competitive prices.
Details of Factorial’s plans for growth
Factorial is a human resources and payroll software company dedicated to helping businesses streamline how they manage their employees. Since its launch in 2016 Factorial has been rapidly expanding, growing its customer base by 200% in the past two years.
As it looks ahead to the future, Factorial has ambitious growth plans. Factorial’s focus going forward is on creating innovative solutions for client challenges. This includes an emphasis on developing new technologies that make employee management easier, faster and more cost-effective.
The company hopes to continue increasing its presence globally in international markets and within existing territories.
To support this expansion plan, Factorial will invest in product development and staff training intending to deliver cutting-edge solutions for businesses of all sizes across multiple sectors and industries. Factorial also intends to build partnerships with other industry players, both domestic and international, who share their commitment to providing best-in-class solutions for managing employee data efficiently and quickly.
By working with market leaders and small startups, Factorial aims to become a global leader in HR technology solutions while meeting its customer needs today, tomorrow and far into the future as businesses grow and evolve.
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