Singapore’s Temasek Holdings has backed the launch of GIIN’s $4.5-million Impact Lab, while GIC participated in the $120-million Series C funding of HR management platform Factorial HR.
Temasek backs Impact Lab launched by GIIN
Singapore-based investment firm Temasek Holdings has backed the launch of Impact Lab, an impact performance research and development lab.
Impact Lab was launched by the Global Impact Investing Network (GIIN) and received $4.5 million in cumulative funding from Temasek, EQT’s global philanthropic unit EQT Foundation, and Visa Foundation.
GIIN is a nonprofit organisation dedicated to increasing the scale and effectiveness of impact investing around the world.
In a LinkedIn post, GIIN said the Impact Lab will push the frontier of impact intelligence with analytical tools that enable asset owners and managers to recognise good performance. It also helps generate superior performance or competitive advantage.
With its partners, Impact Lab’s services include designing impact performance benchmarks, prototyping and testing bench makers, and refining analytics and tools development, according to its website.
GIC invests in Factorial HR’s $120m Series C
Singapore sovereign wealth fund GIC announced that it has participated in the $120-million Series C funding round in HR management platform Factorial HR.
The funding round for Barcelona, Spain startup was also backed by global investors including Atomico, Tiger Global, CRV, K Fund, and Creandum. The round values Factorial at $1 billion, according to TechCrunch.
Factorial was founded in 2016 to help small and medium businesses automate their HR processes and use data to make business decisions. So far, the company has over 7,000 customers across Europe.
The fresh funding will be used to further scale its existing markets across Europe and the Americas.
The Series C round comes a year after Factorial secured $80 million anchored by Tiger Global and backed by CRV, Creandum, Point Nine, and K Fund. It also raised a $16 million Series A round in early 2020.