Barcelona-based HRTech firm Factorial, the AI workforce operations platform, announced the closing of a $150 million Series D funding round at a valuation of $2.5 billion, making it one of the most valuable Spanish and European scale-ups.
The round is led by venture capital firm General Catalyst, which is making its first equity investment in Factorial, joined by other investors including Atomico and Four Rivers.
A significant share of the new capital will be deployed in Germany, which Factorial is naming as its number one international growth market. The company is opening a new office in Munich to anchor its presence in Germany, complementing its existing operations.
Beyond Germany, Factorial will continue to accelerate across France, Italy and Portugal, which are already among the company’s fastest-growing markets, while expanding its team globally at up to 50 new hires per week.
“Alongside the equity round, General Catalyst is doubling down on its prior investment, committing up to an additional $540 million through its Customer Value Fund, bringing total capital committed to over $700 million, securing Factorial’s growth during the following years,” said Factorial.
“With this round, Factorial crosses the $2.5 billion valuation mark, surpassing many Spanish scale-ups and entering the top 20 within the European Union.
“The milestone reflects ten years of accelerated growth, a loyal and expanding customer base of over 16,000 businesses across 90+ countries, and a product strategy that continues to win in competitive European markets being the only company in the sector that has successfully internationalized across these markets.”
Jordi Romero, CEO and co-founder of Factorial, said: “Ten years ago we built Factorial as a SaaS company. Today we are an AI-first company, building agents for our customers, and we are doing it for over 16,000 businesses, from Europe, with the discipline that has defined our first decade.
“We have reset the product, the architecture, and the way our customers run their work around AI agents. General Catalyst’s partnership gives us the conviction and the capital to turn that reset into a category-defining business. This round does not close a chapter. It opens the one that matters.”
Pranav Singhvi, Partner at General Catalyst, said: “The next decade of enterprise software will belong to the companies that rebuild themselves around AI, not the ones that bolt it on. Factorial is doing exactly that, and doing it with a level of product horizontality and an ambitious growth at scale that is rare anywhere in the world. That combination is why we are deepening our partnership across both equity and our Customer Value Fund.”