Factorial: Using Spain’s largest Series B to continue redefining HR for SMBs

specht.p
Creandum
Published in
2 min readSep 6, 2021

Every funding round presents a moment to consider the journey so far — but as Factorial raises its $80m Series B, the largest in Spanish history, it seems right to celebrate the core reason that Jordi, Bernat, Pau, Cesar and team got here: Product.

In a world where incumbent HR suites have become intimidating and clunky through feature sprawl, Factorial takes a laser sharp focus on what SMB users really use and need, with a delightful experience. Wile adding more features Factorial has never compromised on ease of use + UX and created a product second to none.

Just last year, we put it this way:

“The challenge in HR solutions has been the right balance between feature breadth (“ticking the HR feature boxes”) vs. product depth. Yet, with increasing market sophistication, we believe that SMEs’ HR needs are moving more and more toward what we see in enterprise. That means all-in-one suites with access to vertical depth if needed — with the caveat that high ease of use is even more important.”

The opportunity in the HR market today is massive, in particular enabling SMEs to move to strategic HR. Factorial is making the journey beyond typical HR software by focusing on insights relating to everything around people within an organisation.

There’s no more valuable resource, and we see that having the right insights is more crucial than ever. In 2021, where teams have moved to more remote / hybrid setups and classical HR processes have been challenged, you need a powerful platform to serve your employees best.

In this Series B, Factorial has raised a round of funding that nearly matches the largest exits of the Spanish startup ecosystem. This is a threshold moment for Spanish startups, marking new maturity for the region. More to come.

But most importantly, Series B helps the best companies floor the accelerator. We’re excited to continue to back Factorial and participate significantly in this round led by Tiger Global.

Together with them and our other co-investors, we look forward to support the team on their journey to build an extraordinary Spanish, European and global success story.

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