Quinyx, a workforce management platform for hourly workers, has raised $50 million in fresh funding. The round was led by Battery Ventures, and will be used to expand its platform and global footprint.
“Today’s announcement is a game-changer for the workforce management industry and businesses at large,” Quinyx’s founder and CEO Erik Fjellborg said in a statement. “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 center of our product and everything we do. Our next generation technology places us at the forefront of a market eager for innovation.”
Indeed, this news is coming at an interesting time for the hourly workforce in general, as businesses all over the country experience pandemic-related labor shortages. At the same time, other tech startups focused on hourly workers like Prospr and JobGet have garnered investor attention amid a surge in demand. And Quinyx is no different.
The startup was launched in Sweden back in 2005, and has since become a valuable resource for companies all over the world looking to simplify their scheduling, communication, task management, budgeting and forecasting needs among their hourly workers. Quinyx says it has experienced “colossal growth” over the last year especially, and has carved out an impressive slice of the market, with major brands like McDonald’s, Domino’s and Sysco using its platform. And Michael Brown, a general partner at Battery Ventures, seems to think this is just the beginning.
“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,” Brown said in a statement. “We continue to be impressed by Quinyx’s growth and are excited to see the company scale even further in the current economic environment.”
