Factorial Receives $ 80 Million Investment to Expand International Markets

The HR Software Company Accelerates Growth in the DACH Market.

HR software start-up Factorial has received an investment of $ 80 million. This cash injection is the fourth since the company was founded in 2016. The investment is to be used for international expansion.

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The investor is Tiger Global, a US mutual fund manager. Tiger Global specializes in the internet, software, financial and consumer technology industries and has invested in numerous startups.

“The market for HR software in Europe is huge and Factorial is incredibly well positioned to take advantage of this opportunity,” said John Curtius, Partner at Tiger Global. “Our research has shown that we not only have a product that customers * delight, but also a world-class team that is ready to exploit the potential of Factorial.”

“We are very pleased about the partnership with Tiger and the continued support from our previous investors. Factorial has set itself the goal of becoming the world’s leading provider of HR technology for SMEs. To have investors who are on our way to going public accompanying is the key to success, “says Jordi Romero, founder and CEO of the company.

The previous investors were also involved in the latest financing round. Factorial had received roughly $ 16 million just a year earlier from CRV, a Silicon Valley investor who has companies like Twitter, Dropbox and Zendesk in its portfolio, as well as Point 9 Capital, K Fund, Creandum and Columbia Lake Partners were invested.

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“The job market has changed worldwide in the last 18 months,” says Reid Christian, General Partner at CRV. “This has posed major challenges for employers who need to manage their HR processes and look after their employees appropriately. Factorial has always been designed to help companies in different countries with their HR and payroll needs. This has only accelerated demand for the platform. We look forward to continuing to support the company in this funding round and in the next phase of growth. “

The funding is related to the global boom in the HR tech industry. Thanks to increasing demand, Factorial has tripled its sales in the last year. The company is therefore one of the top 10 most promising start-ups in Europe.

The amount is also to be invested in the expansion into the DACH region: “We see DACH as one of the most important markets for 2022. The financing will, among other things, flow into DACH-specific product developments.” says the CEO and founder of Factorial, Jordi Romero.

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