Planday, the leading software-as-a-service solution for employee scheduling has raised 3.75 million USD (25 million SEK) from Creandum. Previously, Creandum has backed companies such as Spotify, iZettle, VideoPlaza, Vivino and Autobutler, and has played an important role in their international success. The funding will be spent on expanding Planday to international markets.
Copenhagen, May 6, 2014: “We have grown organically since day one, and we have been profitable from the beginning. Now, we take in extra capital to speed up our geographical expansion to take advantage of this billion dollar opportunity. Mid 2013, we went on the hunt for venture capital, and on our search, we found an investor, who will not just provide the necessary means for our growth, but is also extremely capable of understanding the challenges we face today and the ones we will meet in the future,” Christian Brøndum, the CEO of Planday, says.
Planday’s software solution simplifies the employee scheduling process, shift trading, communication, HR and payroll. Today, the majority of small and medium-sized businesses handle these tasks on whiteboards or in spreadsheets. However, these ways of managing employees and administrative tasks are extremely inefficient and leave room for mistakes. This is where Planday has found their niche, creating an online solution accessible by everyone in the company and from any online platform including iPhone, Android, Windows or Mac.
In the past few years, Planday has experienced more than 100% growth per year and is by far the leading player on the Nordic market, and they have customers from all over the world. Globally, companies relying on a flexible workforce are faced with the same challenges whether it is about getting shifts covered or handling employees who want to swap shifts, while the employers still need to pay the correct salary.
”There are many small and medium-sized businesses to whom we can sell our product. During the next few years, many of these companies are going to replace their existing pen and paper systems with a modern and online SaaS solution. We want to be the solution they choose. We have always focused on creating a great user-experience, and this has resulted in extremely satisfied customers. The capital from Creandum allows us to take all the necessary steps to reach an international customer base and thus gives us a great chance of becoming the global leader,” Christian Brøndum says.
Creandum, who are based in Stockholm and Palo Alto, first met Planday when they pitched their business idea in Silicon Valley last fall.
We are confident that the Planday team has what it takes to make the company an international success. They already have a good, solid customer base with many loyal customers. And they have already proved that they can grow and make money at the same time. There is a huge market for software solutions that simplify businesses’ daily operations, and we already have a lot of experience from software companies selling specifically to restaurants and hotels, which is why Planday seemed like a perfect company for us to invest in, Johan Brenner, Partner in Creandum, says
Planday has developed an online employee scheduling solution fitting every type of business relying on a flexible workforce such as restaurants, hotels, shops, call centers and fitness centers. Planday automates many of the time-consuming and manual work processes that many small and medium-sized businesses are struggling with. By putting everything online including staffing needs, employees, work hour regulations and labor costs, the optimum work schedule can be made in a few minutes, and managers, employees and colleagues can communicate directly through an app. The employees can handle shift trading themselves, and they are always updated on news and changes to the schedule no matter where they are. Planday saves both customers and users time, money and frustrations. In both 2012 and 2013, Planday was given the exclusive Gazelle award from the largest Danish business newspaper, Børsen, for their rapid growth. In 2014, Planday received capital from the well-known capital fund, Creandum.
Creandum is one of the leading venture capital funds investing in fast growing companies within the consumer, software and hardware industry. Creandum manages more than 250 million euros and has in the last decade invested in more than 30 companies, including Spotify, Wrapp, Vivino, iZettle and Videoplaza. Visit www.creandum.com for more information.
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