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- Factorial
Factorial Revenue, Valuation, Funding & Investors
Factorial is valued at $2.5B as of June 2026.
Last Factorial valuation
$2.5B
Series D · Jun 2026
Last Factorial funding round
$150M
Series D · Jun 2026
Factorial revenue
$100M
Series C · Oct 2022
Key investors in Factorial
Creandum
K Fund
CRV
Point Nine
Atomico
General Catalyst
About Factorial
Factorial is a human resources management platform automating processes for companies of all sizes. Barcelona-headquartered and serving over 7,000 organizations across Europe and Latin America, it streamlines holiday tracking, payroll processing, document storage, and employee benefits administration. The software provides centralized data visibility, compliance tools, and performance insights to enhance HR efficiency.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Oct 2022)
Valuation
$2.5B (Jun 2026)
Factorial Valuation
Factorial is currently valued at $2.5B, based on its Series D in June 2026.
The $150M round was led by General Catalyst, with participation from Four Rivers and Atomico.
Factorial's valuation has grown 5.0x from $500M at its Series B in September 2021 to $2.5B in June 2026, across 3 priced rounds.
Factorial valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2026 | Series D | $2.5B | - |
| Oct 2022 | Series C | $1B | 10.0x |
| Sep 2021 | Series B | $500M | 5.0x |
Factorial Revenue
Factorial's latest recorded revenue is $100M, as of its Series C in October 2022. At a $1B valuation, that implies a 10.0x revenue multiple.
Revenue moved from $100M in September 2021 to $100M in October 2022, while the revenue multiple moved from 5.0x to 10.0x.
Factorial revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2022 | $100M | $1B | 10.0x | Series C |
| Sep 2021 | $100M | $500M | 5.0x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Factorial Funding History
Factorial has raised a total of $370M across 6 funding rounds.
Factorial's first fundraising round was a $600K angel round in June 2017. The most recent completed round was a $150M Series D in June 2026.
Factorial funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Series D | General Catalyst (lead); Four Rivers; Atomico | $150M | $2.5B | General Catalyst led Factorial’s June 3, 2026 Series D with a $150 million equity round at a $2.5 billion valuation, and Atomico and Four Rivers Company also participated. General Catalyst also committed up to an additional $540 million through its Customer Value Fund, taking total available capital to more than $700 million. The financing was presented as support for Factorial’s shift from HR software into an AI-powered workforce platform and its expansion ambitions. Factorial is described as a Spanish software company and one of Europe’s most valuable AI scaleups after the round. |
| Oct 2022 | Series C | Atomico (lead); Creandum; GIC; K Fund; Endeavor Catalyst; CRV; Bossa Invest | $120M | $1B | Factorial is a Barcelona-based HR software platform providing enterprise-quality tools for SMBs, including HR management, payroll, and upcoming features like expense cards. It serves over 7,000 customers across nine markets including Spain, France, Italy, Portugal, the US, and Latin America, with clients such as divisions of Booking.com and Freshly. The company achieved unicorn status in October 2022 with a $120 million all-equity Series C round led by Atomico, participated in by GIC, Tiger Global, CRV, K Fund, and Creandum, doubling its prior valuation to $1 billion post-money. The funding supports product development, acquisitions, geographical expansion into Latino markets with potential for 10 million customers, and team growth beyond 800 employees. Factorial reported over 200% annual growth since 2019, sustained through the COVID-19 period, with massive customer retention as noted by Atomico. This round marked one of Europe's largest at the time and Spain's biggest. Previous rounds included a Tiger Global-led $80 million Series B in 2021, CRV-led $16.5 million Series A in 2020, Creandum-led $3.2 million seed in 2018, and earlier smaller rounds totaling prior raises to about $67 million. Atomico partner Luca Eisenstecken joined the board. Later developments include talks for a $200M raise at $2B valuation after reported $100M ARR in 2024. |
| Sep 2021 | Series B | Tiger Global (lead); Creandum; K Fund; Point Nine; CRV; Columbia Lake Partners | $80M | $500M | Factorial is a Barcelona-based HR software company providing an all-in-one platform for SMBs to automate and streamline people management processes including recruiting, onboarding, absence management, time tracking, and payroll, reducing up to 60 hours of repetitive administrative work per month. The company serves customers across 65 countries with an average of 100 employees per customer, experiencing rapid growth with over 75,000 customers by September 2021. It positions itself as the Workday for SMBs in fragmented markets, particularly in Europe and Latin America. In September 2021, Factorial closed an $80 million Series B funding round led by Tiger Global Management, with participation from existing investors CRV, Creandum, Point Nine, K Fund, and Columbia Lake Partners, bringing total funding to $100 million. The post-money valuation was approximately $500 million, doubling to $1 billion in the subsequent October 2022 Series C led by Atomico. Funds from the Series B were allocated to product development, team expansion, and international market growth, especially deeper into Latin America. Factorial demonstrated strong traction prior to the round, with huge growth in the prior 18 months and investor diligence highlighting customer delight and a world-class team. Investors like Tiger Global emphasized the large HR software market opportunity in Europe. |
| Apr 2020 | Series A | CRV (lead); Creandum; K Fund; Point Nine | $16M | - | Factorial, a Spain-based HR automation platform founded in 2016, raised $16 million in its Series A funding round led by Silicon Valley venture capital firm CRV in April 2020. The round also included participation from European investors Creandum, Point Nine, and K Fund, representing the largest startup funding round in Spain for 2020. The company provided HR and payroll solutions designed for small and medium-sized businesses, with a platform architecture supporting multi-country operations. At the time of the Series A round, Factorial had approximately 70 employees and was expanding internationally. The company did not disclose its post-money valuation for this Series A round, though it subsequently raised an $80 million Series B at a $530 million valuation in September 2021, followed by a $120 million Series C at $1 billion valuation in October 2022. |
| Oct 2018 | Seed | Creandum (lead); Itnig; K Fund; Point Nine | $3M | - | Factorial, a Barcelona-based HR software startup founded in 2016, raised €2.8 million (approximately $3.2 million) in a seed round in October 2018 from Creandum, Point Nine Capital, K Fund, and itnig. The funding followed a €500,000 pre-seed round from local Barcelona entrepreneurs. The company provides a cloud-based platform for SMEs, automating payroll, employee contracts, time tracking, absences, vacations, and benefits management through a freemium model, serving over 20,000 companies in Spain at the time. Factorial earns revenue from benefit suppliers integrated into its platform. The new capital was intended to expand the team, accelerate product development, strengthen its position in Spain and Europe, and scale operations into other markets. |
| Jun 2017 | Angel | Pere Valles | $600K | - | - |
Who has invested in Factorial?
14 investors have backed Factorial across its funding rounds, including Creandum, K Fund, CRV, Point Nine, Atomico and General Catalyst.
Lead investors include General Catalyst, Atomico, Tiger Global, CRV and Creandum.
Factorial Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Oct 2018 | ||
| 4 | Participant | Oct 2018 | ||
| 3 | Participant | Oct 2018 | ||
| 3 | Lead | Apr 2020 | ||
| 2 | Lead | Oct 2022 | ||
| 1 | Participant | Oct 2018 | ||
| 1 | Lead | Jun 2026 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Jun 2026 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Lead | Sep 2021 | ||
This data is available for Pro users. Sign up to see all 14 Factorial investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Factorial
Factorial has acquired 3 companies to date.
Last acquisition by Factorial was on September 2nd 2026. Factorial acquired Empion for undisclosed valuation.
Latest Acquisitions by Factorial
| Description | Empion is a Berlin-based recruiting platform that leverages artificial intelligence to match candidates with companies based on values, skills, and personality traits. The service automates headhunting through a data-driven robo-advisor that analyzes behavioral parameters for precise talent-company alignments. Empion powers hiring for HR tech clients across Europe, integrating with applicant tracking systems. Recognized at TechCrunch Disrupt Startup Battlefield and Forbes 30 Under 30 Europe in technology, the platform streamlines mass recruitment processes for enterprises seeking cultural fit. | YepCode is a developer platform for building and scaling integrations, automations, and AI workflows. The firm supplies serverless execution inside a secure sandbox along with direct links to APIs, databases, and cloud services. YepCode removes routine DevOps tasks so teams can move projects into production while meeting enterprise security and compliance standards. | Fuell is an expense management platform for small and medium enterprises based in India. It automates receipt tracking, reimbursements, and compliance reporting, integrating with accounting tools like QuickBooks and Xero. |
| HQ Country | |||
| HQ City | Berlin | A Coruña | Madrid |
| Deal Date | 2 Sep 2026 | 13 May 2026 | 3 Oct 2023 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Factorial acquisitions and their M&A valuation multiples. Start Free Trial | |||
Investments by Factorial
Factorial has invested in 3 companies to date.
Latest investment by Factorial was on April 16th 2025. Factorial invested in Graze in their $1M Pre-seed round.
Latest Investments by Factorial
| Description | Graze is a platform for Bluesky users to build custom algorithmic feeds filtering posts by topics, communities, or personal interests. Launched in 2024, it supports hobby-specific streams like indie games or urban cycling alongside group feeds for private circles. Available as a web app, it processes millions of posts to deliver tailored timelines without altering core Bluesky functionality. | Adaptive ML is a machine learning company developing scalable methods to enhance reinforcement learning from human feedback for aligning large language models. Its tools address computational inefficiencies in RLHF training pipelines used by models like GPT series. The firm publishes open-source libraries and research papers on preference optimization techniques. Headquartered in the San Francisco Bay Area, Adaptive ML collaborates with AI labs on projects targeting safer AI deployment. | Hackless is a blockchain security platform offering Wallet Rescue for recovering lost crypto assets and Sentinel for real-time threat monitoring. It deploys AI-driven audits to detect vulnerabilities in smart contracts and wallets. Operating globally, Hackless protects users across Ethereum and Solana networks. |
| HQ Country | |||
| HQ City | Portland, OR | Paris | Kyiv |
| Deal Date | 16 Apr 2025 | 11 Mar 2024 | 12 Dec 2023 |
| Round | Pre-seed | Series A | Pre-seed |
| Raised | $1M | $20M | $1M |
| Investors | Salesforce Ventures; Betaworks; Apertu Capital; SKYSEED; Peter Wang | ICONIQ Capital; Index Ventures; Tri Dao; Financiere Saint James; Xavier Niel; Databricks Ventures; IRIS; Dylan Patel; Factorial Capital; Olivier Pomel; Motier Ventures | Cosima Capital; Insignius Capital; DAO Maker; Halvings Capital; DeltaHub Capital |
| Valuation | undisclosed | $100M | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Factorial investments and their VC round multiples. Start Free Trial | |||
Factorial Competitors
Factorial competitors include listed companies like Hilan and ATOSS Software, and private ones like Eightfold AI, PayFit, Human Interest and Lattice.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $12M | - | $2.1B | 175.0x | ||
| Private | $74M | - | $2.1B | 28.3x | ||
| Private | $200M | - | $3B | 15.0x | ||
| Private | - | $183M | $3B | - | ||
| Publicly listed | $993M | $154M | $1.8B | - | ||
| Publicly listed | $218M | $84M | $1.7B | 6.4x |
Factorial Public Comps
Factorial is still privately-owned, but its public comps include Hilan, ATOSS Software, Freee, TOTVS, Workiva, Teamshares, Nordtech Group, AdvancedAdvT, Beisen Holding and Zaggle Prepaid Ocean.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $993M | $154M | 1.8x | - | 11.9x | - | |||
| $218M | $84M | 7.0x | 6.4x | 18.2x | 17.1x | |||
| $214M | $6M | 6.3x | 4.8x | 237.7x | 65.4x | |||
| $1.1B | $318M | 3.9x | 3.2x | 13.7x | 12.1x | |||
| $885M | ($33M) | 4.5x | 4.0x | (120.8x) | 24.0x | |||
| $472M | ($23M) | 1.7x | 1.4x | (35.0x) | 33.2x | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $72M | $13M | 2.5x | 2.4x | 14.1x | 8.9x | |||
This data is available for Pro users. Sign up to see all Factorial competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Factorial
| When was Factorial founded? | Factorial was founded in 2016. |
| Where is Factorial headquartered? | Factorial is headquartered in Barcelona, Spain. |
| Is Factorial publicly listed? | No, Factorial is a private, VC-backed company. |
| What is Factorial's valuation? | Factorial was last valued at $2.5B in its Series D in June 2026. |
| How much funding has Factorial raised? | Factorial has raised $370M across 6 funding rounds. |
| What was Factorial's last funding round? | Factorial's last funding round was a $150M Series D in June 2026, led by General Catalyst. |
| Who are Factorial's investors? | Factorial's investors include Creandum, K Fund, Point Nine, CRV, Atomico, Itnig, General Catalyst, Pere Valles, Four Rivers, GIC and 4 others. |
| What is Factorial's revenue? | Factorial's latest recorded revenue is $100M (October 2022). |
| What is Factorial's revenue multiple? | Factorial's latest valuation implies a 10.0x revenue multiple ($1B valuation on $100M of revenue). |
| Which companies are comparable to Factorial? | Companies comparable to Factorial include Eightfold AI, PayFit, Human Interest, Lattice, Hilan and ATOSS Software. |
| How many companies has Factorial acquired? | Factorial has acquired 3 companies, including Empion, YepCode and Fuell. |
| How many companies has Factorial invested in? | Factorial has invested in 3 companies, including Graze, Adaptive ML and Hackless. |
| What was Factorial's last investment? | In April 2025, Factorial invested in Graze's $1M pre-seed round alongside Salesforce Ventures, Betaworks, Apertu Capital and 2 other investors. |
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