– Investment will accelerate growth and drive product innovation -
London, January 2019: Quinyx, a leading cloud provider of workforce management solutions, today announced a further $25 million investment in its global business. The company’s software helps businesses of all sizes manage employee scheduling, communication, task-management and payroll integration.
The investment was led by Quinyx’ existing investors Alfvén & Didrikson, Battery
Ventures and Zobito. The investment represents the largest investment in the
company to date, demonstrating confidence among its investors as it continues to
grow into the $2.4 billion global workforce management market*. The funding will further accelerate Quinyx’s roll-out of innovative features and new AI technologies
that will automate and streamline workforce management processes.
Quinyx currently has close to 500,000 employees on its platform, and supplies
workforce management technology to some of the world’s most admired companies.
Clients include McDonald’s, London City Airport, Burger King, Rituals, Swarovski,
IHG, Boots, and many more. Recent wins include Daniel Wellington and Odeon
Commenting on the investment, Erik Fjellborg, Founder and CEO of Quinyx said:
“Today’s announcement will help us to accelerate our growth journey and develop
and embed new technologies into our platforms to unlock the full potential of the
flexible workforce. Our mission is simple – to create a better life for millions of people
by improving their work lives.”
Maria Åhr, CEO of Alfvén & Didriksson: “Quinyx is a game changer in workforce
management. Its consistent growth and calibre of its customers confirms its strong
potential for future global growth. We look forward to playing an active role in the
company’s next chapter.“
Michael Brown, general partner of Battery Ventures added: “Having joined the board
at Quinyx when we invested in the company last year, I’ve seen first-hand the
ambition and drive Erik and his team have shown in going after this large market.
Quinyx has made significant progress in the last year by continuing to focus on the
strength of its technology. This new investment will help take Quinyx’s business to
the next level.”
Quinyx is a cloud based, mobile first workforce management software that rocket fuels the workforce in service industries to make people and businesses grow.
Quinyx was founded by CEO Erik Fjellborg after a summer spent working at McDonald’s. After witnessing how difficult it can be for managers to sort shifts manually, Erik created the leading cloud native mobile first software that has radically improved Workforce Management. McDonald’s loved Erik’s solution and became Quinyx’s first customer.
Today, Quinyx helps some of the world’s biggest businesses to save time and money, boost productivity and make people enjoy work.
With its core customer base in Europe, Quinyx has offices in UK, Sweden, Finland, Germany, Norway, Denmark and the Netherlands. Its software has also been implemented globally, in markets such as China, Japan and Korea.
Clients include Burger King, Rituals Cosmetics, Swarovski, IHG, Boots, Virgin Atlantic, London City Airport, Benugo, and Odeon Cinemas Group.
About Alfvén & Didriksson
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
About Battery Ventures
Battery Ventures strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, Tel Aviv and London.
Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.
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