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 […] © 2024 TechCrunch. All rights reserved. For personal use only.
Barcelona-based HR platform Factorial secured $120 million in non-dilutive funding from General Catalyst to invest in sales and marketing ("go-to-market") activities. This follows an $80 million loan from GC in April 2024. Factorial plans to use the funds to capitalize on its growth since the COVID-19 pandemic and differentiate itself from competitors amid recent legal disputes in the HR sector. The funding comes from General Catalyst's "Customer Value" fund, offering a loan-like structure repaid from profits generated by customers acquired using the funds, with GC bearing the downside risk.