UK is a strategic growth market with investment in sales, customer support and a new London development team planned
Planday, the workforce collaboration platform has announced today that it has closed its Round C fundraising of €35 million Euros.
The lead investor is Nordic financial services group, SEB Private Equity, with additional investment from investors in previous funding rounds, including Creandum and Idinvest. This investment will be used to both extend the platform and accelerate expansion into new markets across Europe and North America.
In the UK, where it is estimated that 26% of all work is shift-based, Planday is growing its user base at over 250% annually. This investment will enable Planday to establish a UK-based technology development hub, as well as to grow sales and customer support teams from its London office. Over the last year alone, Planday has quadrupled it’s UK employee base and is positioned to become the company’s most significant hub.
Planday has developed a flexible rota scheduling platform that can be used by businesses managing shift workers to enable real-time, contextual communication between employees, managers and co-workers in industries that have been traditionally underserved by technological solutions.
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Christian Brøndum, Chief Executive Officer for Planday commented: “We are proud to collaborate with a broad global customer base, including brands such as Barry’s Bootcamp, Ottolenghi, and St Pancras Hotel. This investment will further enable us to help customers automate their business processes and save administrative time through our partnerships with industry leaders such as Apple, Lightspeed, Intuit and Sage. Our mission is to deliver fully integrated solutions that provide a seamless experience for our customers.”
Planday allows businesses to optimise administration of employees and integrate seamlessly into their payroll processes. Planday’s customer base already spans 39 countries, and this investment will enable further global expansion, as the global workforce management market is expected to reach USD 11.09 billion by 2025.
Victor Lang, Chief Investment Officer at SEB Private Equity, adds to this,”we have backed companies in several traditional industries that have been revolutionized by cloud-based SaaS technology. We believe Planday is well positioned to spearhead automation and simplicity within workforce management, which is why we are excited to lead this round of funding for Planday, as well as team up with the Planday management team to continue scaling new ways of collaboration for shift-based businesses.”
Johan Brenner, General Partner at Creandum and Chairman of the board for Planday commented: “We are as excited to invest in Planday as we were to invest in iZettle and Spotify. We can see a huge market opportunity for Planday as they continue to grow internationally to improve the lives of 1 billion shift workers across the globe. Planday paves the way for a digital revolution for shift workers and their managers.”