CRV leads €15m series-A for Factorial

Previous backers Creandum, Point Nine Capital and K Fund also took part in the investment.

Factorial intends to use the fresh capital to expand into new markets in Europe and the US. It also plans to develop new features and functionality to help companies transition to digital, including applicant tracking and recruitment, performance evaluation, time tracking and absence management.

Previous funding
Factorial received €500,000 in seed funding from several Barcelona-based entrepreneurs and business angels in June 2017.

Subsequently, Creandum, via its €180m fourth fund, led a €2.8m seed round in Factorial in October 2018, alongside K Fund and Point Nine Capital.

Company
Established in 2016 and headquartered in Barcelona, Factorial helps SMEs manage administrative HR tasks, such as monitoring employee holidays and sick leave, recording staff hours, and managing payroll and documents, all through one digital platform. The startup has 60,000 clients across 40 countries. Factorial saw 8x revenue growth in 2019, according to the company.

People
CRV – Reid Christian (general partner).
Factorial – Jordi Romero (CEO).

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