7shifts Raises $1.2M in Seed Financing (Empl Sched For Restaurants)
Employee scheduling software provider for restaurants receives funding from Relay Ventures, Globalive Capital, Boost VC, and Tim Draper
SASKATOON – May 26, 2016 – 7shifts, providers of employee scheduling software for restaurants, has raised C$1.2 million in seed financing. The funding round was led by Relay Ventures, with participation from Globalive Capital, and repeat investors Boost VC and Tim Draper. The funds will be used by 7shifts to expand its sales team; to add new features and functionality to its scheduling software to meet the growing needs of the restaurant industry; and to support the implementation of new marketing programs.
7shifts’ scheduling software and mobile app are used by restaurants to manage and evaluate the performance of shift workers. Restaurant managers use it to assign employees to shifts and approve requests; while staff use it to view their upcoming shifts and submit requests for manager approval. 7shifts is used by more than 1,900 restaurants in North America, Scandinavia, the Middle East, and Australia. Customers include 90 Burger King locations in Alabama and 19 Panera locations in Iowa. Managers that use 7shifts notice an 80% reduction in the time required to manage schedules and staff. 7shifts also reduces labor costs by up to 3% as a result of better scheduling and forecasting.
“7shifts has achieved tremendous traction over the past year, supported by revenue growth of 300%,” said Jordan Boesch, founder and CEO of 7shifts. “We are laser focused on restaurants and deliver scheduling software that our customers love. Add to this an injection of funding from investors who offer a wealth of mobile and restaurant experience, and we are incredibly well positioned to capture an even greater share of the market.”
Unlike other employee scheduling software solutions, 7shifts is only focused on restaurants. With its highly targeted approach, 7shifts has partnered and integrated with best-of-breed restaurant software solutions, including point-of-sale systems such as TouchBistro, Toast, and Cake.
“Mobile devices are changing the way businesses in the service industry are managed,” said Alex Baker, partner at Relay Ventures. “Beyond helping restaurants manage their schedules, 7shifts creates a community for employees, enabling them to communicate, plan, and interact in a closed and secure environment.”
Relay Ventures is an early stage venture capital firm focused exclusively on mobile software, services, technology, and content. In addition to the firm’s focus on mobile, Relay also has great insights into the restaurant industry thanks to its investments in TouchBistro, the leading iPad point-of-sale (POS) solution for restaurants in 35 countries and a 7shifts partner. In conjunction with this round of funding, Alex Baker, partner at Relay Ventures, is joining the newly created 7shifts board of directors.
Boost VC is a specialized seed-stage accelerator that invests in blockchain, virtual reality startups, and other wild cards such as 7shifts. Globalive Capital, the investment company of Anthony Lacavera and his team, invests in multiple asset classes including venture, private equity, real estate, and infrastructure; and has made over 75 investments. Tim Draper is founding partner of leading venture capital firms Draper Associates and DFJ.
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