Factorial, an SMB marketing firm, is in the midst of raising $80 million in funding to support its growth plans. In addition, the company is opening up new positions and expanding its operations in Latino markets. Moreover, the firm’s revenues will grow eightfold in 2019.
Raising $80 million to expand operations
Factorial aims to be a one-stop HR solution for small and medium-sized businesses. It provides HR management software, including payroll management and internal communications. The company has a sizable global customer base. It is currently servicing 75,000 companies in 65 countries.
Its flagship product is a SaaS app for human resources that automates every step of the process. Some of the other features of the app include an in-house time off schedule, time off tracking, and the ability to integrate with localized third-party providers. A dedicated office is also in the works in Miami.
Another key feature is the “PeopleMatters” service, which allows smaller firms to use HR tools like those found at larger corporations. Specifically, the service helps retain talent, and improves productivity. As a result, it is likely to find a home amongst the aforementioned SMEs.
Factorial was founded by Jordi Romero and Bernat Farrero. The latter was formerly co-founder of the aforementioned Itnig and Camaloon, as well as the other aforementioned startups.
Growth in Latino markets
The Latino market has become a major player in the US economy. Its growth rate is unprecedented. In fact, it is the largest minority market in the U.S.
Moreover, it represents an economic opportunity that is largely untapped. For example, a survey by the National Association of Hispanic Real Estate Professionals revealed that the Latino homeownership rate has increased for six consecutive years.
At the same time, the growth of the Latino labor force is robust. According to the Latino Donor Collaborative, Latinos make up 78% of net new jobs. They are also increasing their participation in the workforce, thereby offsetting declines from the Baby Boom generation.
As a result of their growth, the buying power of the Latino consumer is expected to exceed that of the white household in 2025. This makes Latinos an essential part of the future of the retail industry.
A new report, “The Hispanic Market Imperative”, from Nielsen provides a fresh perspective on the Hispanic consumer segment of the US economy. Through the lens of data, the report offers useful insights and recommendations for marketers to better understand and reach this demographic.
New positions available at Factorial
The company aims to help companies digitize their human resources departments. They do this by offering an all-in-one solution for managing the HR department. It automates and optimizes various workflows for hiring, management and performance. The solution is available in three plans.
Factorial HR provides SaaS solutions for small and medium-sized businesses. Their solution allows HR professionals to focus on other important tasks. There are more than 60,000 organizations that use the solution. A recent round of funding from investors such as K Fund, Creandum and Tiger Global helped the company raise a total of $80 million in equity financing. This funding will be used to fuel future growth. In addition, the company plans to expand to the United States.
Since its founding, Factorial has helped companies adapt to the changing dynamics of the workforce. It provides an all-in-one human resource platform, offering tools for a variety of functions, including hiring and recruitment, talent management and team management.