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. According to Select Software Reviews, Factorial is "devoted to solving the daily challenges of HR teams while placing a strong emphasis on data security."[1]
History[edit]
Factorial has seen rapid growth since its founding in 2016.[2] The company's breakthrough success came during the COVID-19 pandemic, when HR professionals were struggling with layoffs and furloughs. Factorial made its software available for free for a period of time while restrictions during the pandemic 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.[3]
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.[4][5]
Mexico City Office[edit]
Factorial opened its Mexico City office in June, 2021 with the goal of helping 500 companies "reduce up to 60 hours a month of repetitive tasks and administrative work" in their HR management in Mexico.[6]
Miami Office[edit]
In 2023, Factorial opened its office in Miami to better serve their customers and partners in the region.[7] 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.[8] The office is located in the Latitude One office building in Brickell.[7]
Software[edit]
Factorial's goal is to provide companies with an "all-in-one" business management platform.[9]
According to Select Software Reviews, Factorial is best suited to "small and medium-sized businesses with many HR processes to streamline. It's specially suitable for organizations with a remote workforce and operations in Europe, the US, or Latin America."[1] The software also includes a downloadable mobile app version.[1]
Factorial offers a complete onboarding process and constant customer support.[1] The software is noted for its user-friendly design and compatibility with other business tools.[10]
Overview[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.[1]
Key features[edit]
Factorial's key features include employee onboarding, time tracking software, a paid time off tracker, an organizational chart, payroll, a talent acquisition hub with an applicant tracking system, and much more.[1]
Integrations[edit]
Factorial has an API, webhooks, and are Zapier-compatible. The software also has native integrations with Greenhouse, Slack, Google Calendar, Workable .[1]
References[edit]
- ^ a b c d e f g "Factorial Expert Review, Pricing, Alternatives – 2024". www.selectsoftwarereviews.com. Retrieved 2024-03-18.
- ^ "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.
- ^ Medina, Alejandro (2021-06-02). "La startup Factorial, especializada en RH, comenzará a operar en México". Forbes México (in Mexican Spanish). Retrieved 2024-03-25.
- ^ a b writer, Nancy DahlbergI am a; Experience, Editor with Extensive Media; Journalism, A. Passion for; news, serving the community Most of my career has been spent with the Miami Herald in business; Tech, My Expertise Is Writing About; Miami, entrepreneurs I. love hosting this blog for Refresh; startup, we aim to be the go-to site for South Florida; News, Tech; features (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.
{{cite web}}:|first2=has generic name (help) - ^ 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 Acquires YC-Backed Fuell, Expands Into Expense Management Market". Yahoo Finance. 2023-10-03. Retrieved 2024-03-18.
- ^ 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.