Factorial, a HR unicorn, snaps up $120M from General Catalyst to boost sales and marketing

Factorial, the Barcelona-based “unicorn” startup that provides an all-in-one HR platform in the cloud for small and medium businesses, has picked up a non-dilutive (no equity) $120 million from General Catalyst — money it says it’ll invest in one specific area: “go-to-market”, or GTM, the umbrella term used for the wider expenses associated with sales and marketing activities. The company initially cut its teeth in the boom for HR services that came with the social distancing of the COVID-19 pandemic, via a ‘free’ version of the product that went viral and racked up more than 60,000 users. Soon after this it went paid-only, and CEO and co-founder Jordi Romero told TechCrunch in an interview that it has seen customers and revenues grow sixfold in the last year, reaching 13,000 paying businesses. Factorial will be using its latest cash injection to take advantage of that momentum. Factorial’s news about raising more money to turbocharge its sales and marketing is coming, coincidentally ... Read full article.