HR process management platform Factorial has acquired end-to-end digital solutions provider Codegram.
Details around the acquisition remain scant, with Codegram founders removing the website altogether and replacing it with a statement that concludes with:
“We started this company with an idea in mind — to hack! — and we’ve had our fair share of it. Now we’re ready to close this chapter and move on to new adventures along with our incredible team.
Starting today, Codegram is joining Factorial in their mission to empower small and medium businesses and help them nurture great teams.
So long, and thanks for all the fish!
Perhaps it’s just this author’s perception, but it’s the, “close this chapter,” and, “thanks for all the fish” that reads to me as messages of, “thanks, but we out”. To be fair, updated LinkedIn profiles all indicate the founders have taken positions at Factorial.
Additionally, there is zero mention of the acquisition from Factorial to be found.
Factorial, which counts brand names including KFC, Booking.com, and Whisbi amongst its client base, and in so much, represents over 75,000 individuals in 65 countries around the world, recently raised $80 million in a Series B round that was led by the omnipresent Tiger Global and saw participation from previous investors CRV, Creandum, Point Nine, K Fund, and Columbia Lake Partners.
Obviously, no financial details of the acquisition were provided, but it’s clear to see where a portion of that money was spent.