Factorial company profile: valuation, funding & revenue

This Factorial company profile covers the company's valuation, revenue, funding rounds, investors and history. Factorial works in HR technology, with a focus on HR software for small and mid-sized businesses. It was founded in 2016 and is headquartered in Barcelona, Catalonia, Spain. Its latest valuation on record is US$2.5 billion (June 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Factorial timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2016 — Factorial is founded in Barcelona by Jordi Romero (CEO), Pau Ramon and Bernat Farrero.
• 2021 — Series B: US$80M, valuing the company at About US$500M. Investors: Tiger Global (lead).
• Oct 2022 — Series C: US$120M, valuing the company at US$1B. Investors: Atomico (lead); GIC; Tiger Global, CRV, K-Fund, Creandum.
• Jun 2026 — Series D: US$150M, valuing the company at US$2.5B. Investors: General Catalyst (lead); Atomico, Four Rivers.
• March 2025 — Non-dilutive financing: US$80 million in April 2024 and US$120 million in March 2025 from General Catalyst for go-to-market spending (as reported).

Investors

Overview

Factorial makes all-in-one HR software for small and medium-sized businesses. Its platform covers employee records, time tracking, time off, payroll preparation, performance reviews, recruiting, expenses and documents, aiming to replace spreadsheets and multiple separate tools with a single system. It is especially popular in Spain and Latin America and has expanded across Europe and other regions. In October 2022 it raised a US$120 million Series C led by Atomico at a US$1 billion valuation, making it one of Spain's few unicorns, and it has since used non-dilutive financing from General Catalyst to fund growth.

Jordi Romero, the CEO, Pau Ramon and Bernat Farrero founded Factorial in Barcelona in 2016. The three had previously built software companies together, including Redbooth, a collaboration tool. They saw that small businesses were poorly served by HR software designed for large enterprises and still managed people with spreadsheets and paper.

Products

• Core HR: employee records, documents, organisational charts and onboarding.
• Time and attendance: time tracking, shifts, time off and absence management, important for compliance in countries such as Spain.
• Payroll support: payroll preparation and integrations with payroll providers.
• Talent: recruiting, performance reviews, goals and training.
• Finance tools: expense management and spend features.
• AI features: AI assistants for HR questions, reports and workflows.

Funding

Factorial raised early funding from investors including K-Fund, CRV and Creandum. In 2021 it raised an US$80 million Series B led by Tiger Global. In October 2022 it closed a US$120 million all-equity Series C led by Atomico, with GIC participating and previous investors Tiger Global, CRV, K-Fund and Creandum returning, doubling its valuation to US$1 billion. It later secured US$80 million in April 2024 and US$120 million in March 2025 in non-dilutive financing from General Catalyst, earmarked for sales and marketing; such financing is typically repaid from future revenue rather than exchanged for shares, so it didn't set a new valuation.

Business model

Factorial sells subscriptions priced per employee, with tiers that add modules such as performance, recruiting and finance. Its customers are mainly companies with between a handful and several hundred employees. Selling to many small customers requires efficient marketing and self-service onboarding, which is why it has invested heavily in go-to-market spending.

Competition

Factorial competes with European HR platforms such as Personio and HiBob; with local payroll and HR providers in each country; with global platforms such as BambooHR, Rippling and Deel; and in Latin America with regional HR software. Its strengths are a broad product for small businesses and strong positions in Spanish-speaking markets.

Factorial at a glance

Factorial is a Barcelona HR software company founded in 2016 by Jordi Romero, Pau Ramon and Bernat Farrero. It provides all-in-one HR tools for small and mid-sized businesses. It raised a US$120 million Series C led by Atomico in October 2022 at a US$1 billion valuation, and later received US$200 million in non-dilutive financing from General Catalyst.

Timeline

• 2016: founded in Barcelona.
• 2019–2020: grows quickly, helped by Spain's time-tracking rules.
• 2021: raises US$80 million Series B.
• October 2022: raises US$120 million at US$1 billion.
• April 2024 and March 2025: secures non-dilutive financing from General Catalyst.

Regulation as a growth driver

In 2019, Spain made it mandatory for companies to record employees' working hours. Many small businesses suddenly needed a reliable way to track time, and Factorial's simple time-tracking features helped it win large numbers of customers. Once a company used Factorial for time tracking, it often adopted other HR modules. Similar regulations elsewhere in Europe, combined with growing expectations for digital HR, have supported demand for SMB HR software.

How non-dilutive growth financing works

General Catalyst's Customer Value Fund provides capital to software companies to spend on customer acquisition, which the company repays from the revenue those customers generate, rather than selling equity. For companies with predictable customer economics, this can fund growth without diluting shareholders. It works best when a company knows how much it costs to acquire a customer and how much revenue that customer will generate over time.

Who uses Factorial

Factorial's customers are small and mid-sized businesses across sectors such as retail, hospitality, professional services and technology, mainly in Spain, Latin America and other European markets.

Valuation context

Factorial's US$1 billion valuation dates from 2022. Our guide to HR tech companies compares it with peers.

Risks

• Competition: many HR software providers target SMBs.
• Customer churn: small businesses switch or close more often.
• Localisation: payroll and compliance vary by country.
• Stale valuation: the last equity valuation is from 2022.

Questions for buyers

• Does it support payroll and compliance in your country?
• Which modules are included at each price tier?
• How easily does it integrate with your accounting and payroll systems?

How a small business uses Factorial

Consider a restaurant group with 80 employees across several locations. Before Factorial, managers tracked shifts in spreadsheets, employees requested holidays by message, and payroll staff collected hours manually each month. With Factorial, employees clock in and out on their phones, request time off in the app and see their schedules; managers approve requests and adjust shifts; and HR exports hours and absences directly for payroll. Employee contracts and documents are stored in one place, and new hires complete onboarding online. Over time, the business might add performance reviews or recruiting tools. For small businesses without large HR teams, replacing scattered tools and paperwork with one system saves time and reduces errors, particularly where labour rules require precise records.

Small businesses evaluating HR software should start with their most pressing compliance or administrative need, test it during a trial, and check how easily the system will grow with them.

Latest developments (October 2026)

Factorial raised a US$150 million Series D in June 2026 at a US$2.5 billion valuation, led by General Catalyst with Atomico and Four Rivers, and General Catalyst also committed up to US$540 million through its Customer Value Fund to finance sales and marketing, according to Reworked. The Barcelona company said it has about 16,000 customers in 90 countries and named Germany its top growth market. This supersedes the 2022 valuation described earlier on this page.

What to watch

Watch international expansion, AI features, new equity funding and competition with Personio and HiBob.

Takeaways

Small businesses can manage HR in one affordable system. Founders can see how regulation can create demand. Investors should note its last equity valuation is from 2022.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Reworked
2. Seedtable
3. Tech.eu
4. TechCrunch