Stockholm, November 30th 2021
Quinyx, the leader in AI powered workforce management (WFM), announced it has raised $50M in funding led by Battery Ventures.
Quinyx’s AI-powered workforce management software enables organizations to automate, optimize and streamline their labor processes, while simultaneously empowering and engaging their employees. The platform already helps customers around the world - including McDonald’s, DHL, Elkjøp, Espresso House, Domino's and Lindex - improve productivity, drive business outcomes and enhance the employee experience.
Quinyx has experienced colossal growth over the past year. This success reflects the strenuous demand for organizations hiring an hourly workforce to do more with less as a labor shortage puts a squeeze on businesses’ operations.
“Quinyx’s technology can’t fix the current labor shortage, but it can help employers—from retail stores, to supply chain, to hospitality companies—better manage the employees they have,” said Michael Brown, a general partner at Battery Ventures who led the current funding round. He added: “We continue to be impressed by Quinyx’s growth and are excited to see the company scale even further in the current economic environment.”
As reports of empty supermarket shelves, supply chain disruption and a scarcity of hospitality staff dominate the news cycle, it is crucial for businesses to rethink labor management and the employee experience in order to increase staff retention and productivity.
“We are excited about the funding which will enable us to accelerate innovation and expansion - supporting our mission to better the lives of millions of hourly workers. Today’s announcement is a game-changer for the workforce management industry and businesses at large.” said Erik Fjellborg, Founder and CEO of Quinyx.
“The pandemic has fundamentally altered when and where the workforce wants to work, while covid-related obstacles have added to the challenges organizations face. Hourly workers and the companies employing them have always been at the centre of our product and everything we do. Our next generation technology places us at the forefront of a market eager for innovation”.
Quinyx is a leading workforce management software providing technology that simplifies scheduling, time reporting, communication, task management, budgeting and forecasting. Through advanced and flexible features, Quinyx helps companies around the world remain compliant, improve efficiency, reduce costs of labor and engage employees.
Today, Quinyx helps some of the world’s biggest businesses save time and money, boost productivity and enjoy work. Quinyx has offices in the U.S, U.K , Australia, Sweden, Finland, Germany, Norway, Denmark and the Netherlands. Its software has also been implemented globally. Clients include Lindex, Wolt, Bestseller, Revolut, Vodafone, Parques Reunidos, McDonald’s, Domino’s, Oatly, Maersk and Rituals.
Quinyx is backed by leading SaaS investors Alfvén & Didrikson, Battery Ventures and Zobito.
About Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from six strategic locations: Boston; San Francisco and Menlo Park, Calif.; Herzliya, Israel; London; and New York. Read more at www.battery.com and find a full list of Battery's portfolio companies here.
About Alfvén & Didrikson
Alfvén & Didrikson is an active and long-term backer of passionate entrepreneurs and teams with international growth ambitions. Since the start in 2010, the firm has focused on making investments in fast-growing Northern European companies, such as Trustly group and Quinyx. For further information about the team and the investments please see alfvendidrikson.com