Factorial (software company)
 Factorial's logo | |
| Formerly | FactorialHR |
|---|---|
| Founded | 2016 |
| Founder |
|
Area served | Worldwide |
| Services | human resources software as a service, human capital management software as a service and applicant tracking system |
Number of employees | 1,000 (December 2023) |
| Website | factorialhr |
Factorial is a technology company that provides human resources software as a service. Founded in 2016 by Jordi Romero, Bernat Farrero, and Pau Ramon Revilla, the company has offices in Barcelona, Miami, São Paulo, and Mexico City.
Factorial's software includes Absence management features, a Document management system, and built-in analytics.
History
[edit]Factorial was founded in 2016.[1] During the COVID-19 pandemic, Factorial made its software available for free for a period of time while restrictions were in place. This led to new interest from companies that had never used cloud-based services before, and had previously only used manual methods for document management and other HR processes.[2]
Factorial received a Series B investment round of $80 million, followed by a Series C investment round of $120 million in 2022, raising the company's valuation to $1 billion and granting it unicorn status.[3][4]
Mexico City Office
[edit]Factorial opened its Mexico City office in June, 2021.
Miami Office
[edit]In 2023, Factorial opened its office in Miami.[5] The choice of location in North America was part of the process of expanding in the US and Canadian markets with products that are localized for these markets.[6] The office is located in the Latitude One office building in Brickell.[5]
Software
[edit]The software is made up of a section for time off management with a team calendar where all absences and upcoming days off are collected and shared with the team, an employee self-service area which is a custom portal where employees can update their personal information, documents, holidays, documents, and events, and a separate dashboard for talent management.[7]
References
[edit]- ^ "Spain mints its newest unicorn as Factorial raises $120m". Sifted. Retrieved 2024-03-18.
- ^ Lunden, Ingrid (2020-04-27). "Factorial raises $16M to take on the HR world with a platform for SMBs". TechCrunch. Retrieved 2024-03-18.
- ^ "Factorial Closes a Series B Funding Round with $80 Million". www.businesswire.com. 2021-09-07. Retrieved 2024-03-18.
- ^ Lunden, Ingrid (2022-10-11). "Factorial adds $120M and doubles valuation to $1B to build enterprise-quality HR for SMBs". TechCrunch. Retrieved 2024-03-18.
- ^ a b DahlbergI, Nancy (2023-03-24). "HR tech unicorn Factorial chooses Miami for its North American hub, plans to hire up to 150 – Refresh Miami". Retrieved 2024-03-25.
- ^ researcher, Riley KaminerI am a Miami-based technology; startups, writer with a passion for sharing stories about the South Florida tech ecosystem I. particularly enjoy learning about GovTech; Intelligence, Cutting-Edge Applications of Artificial (2023-12-12). "HR-tech unicorn Factorial expands in North America, with Miami as its hub – Refresh Miami". Retrieved 2024-03-25.
- ^ "Factorial Expert Review, Pricing, Alternatives – 2024". www.selectsoftwarereviews.com. Retrieved 2024-03-18.