In their latest funding round, Planday has received $ 14 million. The Series B round was led by the French investment firm, Idinvest, who sees Planday’s solution as a big step forward for workforce management solutions. Among the other investors were Creandum, SEB Private Equity, and the angel investor Arthur Kosten, who is the co-founder of Booking.com.
Planday’s offers a real-time platform for shift planning, making it easier for managers and employees to plan and communicate their work hours. The company has seen rapid growth during the past years, increasing the number of users by 100% within the last 12 months. Planday now has more than 100,000 end-users in 24 different countries.
Expansion and Integration
The new investment will be used to strengthen Planday’s presence in the US while focusing on integration with other existing SaaS solutions in Europe. The company is already well established on the North American market with several customers within the hospitality and retail industries.
“Before using Planday, we had two challenges: one was tracking shift changes among the team, and the other was having a clear, concise picture of the schedule that we could easily manipulate. Planday has saved Ellary’s Greens countless hours in scheduling and logistical communications. Our employees love using Planday because they get more clarity around the schedule and the autonomy and independence that allows them to exchange shifts,” says Leith Hill, Founder, and President of Ellery’s Greens, who has integrated Planday into their company.
The Series B investment round has been a huge success and a big improvement from the $ 3.75 million raised in their Series A round back in 2014. The investors are also very optimistic about the prospects of Planday’s service on the American marked.
“Right from the beginning, we have seen a huge potential in Planday, because many shift-based firms such as restaurants, hotels and fitness chains use convoluted boards and simple spreadsheets to keep track of their employees’ shifts. Planday’s system hands over the responsibility to the employees and frees the managers from a great deal of the administrative work. It is undoubtedly a clean business case,” says Johan Brenner, Investment Partner at Creandum, who, for the second time, has chosen to fund Planday.
Guillaume Durao, the Investment Director at Idinvest, also notes that by focusing on integration with leading economy and HR-systems, the benefits of Planday will become increasingly apparent. This will have a great impact on the use of Plandays in the European market.