Factorial, a scaleup that develops business management software born in Barcelona, announces that it has closed a new $120m investment round, accelerating expansion into Europe. The deal is led by General Catalyst, bringing the total investment in the company to $200m, following the first $80m round announced in April 2024.
Italy remains a key market for Factorial, with over 1,200 companies already customers, including Caffeina, Banca Aidexa, Unobravo and Casavo. The HR software company has around 200 Italian employees, is now aiming to further strengthen its presence in our country, with 16 positions currently open, and the goal of exceeding USD 100 million in annual recurring revenue this year.
“Factorial’s efficient and predictable growth allows us to pursue ambitious expansion without diluting our shareholders, making us one of the few companies that are simultaneously hyper-growing and financially sustainable,” says Jordi Romero, CEO and co-founder of Factorial (left in photo), in a note.
Founded initially as an HR software company, Factorial has evolved into a comprehensive business management platform. Recent success has been driven by the company’s expansion into project administration, training and expense management. This approach has fuelled a significant growth path that has led the company to serve over 13,000 clients across Europe, including 1,200 in Italy.
General Catalyst’s decision to increase its investment in Factorial highlights the value for the company’s performance in 2024, particularly its business model and efficient growth strategy for the coming years. Pranav Singhvi, managing director of General Catalyst, comments: “From our perspective, it is rare to see a company grow as quickly and efficiently as Factorial did in 2024. Their ability to grow sustainably while remaining at the forefront of innovation made this decision very easy for us. We are doubling our investment and are excited to support Factorial’s next phase of growth’.
Factorial is expanding across Europe, with strong momentum in Germany, its fastest growing market. Customers appreciate the simplicity and flexibility of Factorial’s all-in-one platform, which seamlessly integrates multiple business functions. To support its accelerated expansion, Factorial is expanding its team, hiring up to 50 employees per week to grow from 900 to 1,300 team members.
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