Big news from the 7shifts team this week! We raised an additional $6 million (USD) in funding to help us accelerate the development our labor management platform, expand our team, and provide new, innovative services that help restaurants like your grow.
This additional funding is led by our existing investors, Napier Park Financial Partners, with participation by our existing partners at Relay Ventures, and our new investor, Conexus Credit Union.
What this funding means for your restaurant
These funds will assist the 7shifts team in our North American expansion efforts and help us grow our products and partner network to be the leading labor management provider for restaurants of all types.
Here are the areas we're focusing on:
- Expanding our partner integration network
Developing strong partnerships with other tech providers in the restaurant industry, and being able to integrate our solutions to streamline processes for restaurateurs is a vital part of the 7shifts trajectory. We have recently added 10 new partners to our network, including our recent debut in the ADP Marketplace, and our full integration with Revel POS.
2. More compliance functionality
Compliance is a huge issue for restaurants in North America—and the landscape of labor legislation is only becoming more complex as new Predictive Scheduling and Fair Workweek laws are introduced. We are committed to building the best possible solution for restaurants that want to stay proactively compliant with evolving labor regulations —no matter their region.
Existing labor compliance functionality puts 7shifts ahead of other scheduling software providers, and we intend to continue leading the industry with our compliance solutions.
3. Team growth for restaurant success
So far this year, we've already more than doubled the number of restaurants signing up each month, and doubled the size of our team.
With the additional capital, we've already been able to accelerate our hiring of key team members, including the recent addition of VP Partnerships, James Moncarz, formerly VP Partnerships at Ceridian and Docebo, and Preston Junger, former VP Global Partnerships at Yelp, who will specifically focus on U.S. expansion. Both new hires were attracted to our vision of becoming the leading labor management partner for restaurants.
Today, 7shifts helps restaurants schedule over 7 million shifts per month, which translates to significant savings for managers, thousands of hours saved on schedule administration, and $12 million per month in labor cost savings.
By keeping laser-focused on solving the pain points restaurants face managing, motivating, and retaining their teams, we have transformed our learnings into compelling products that are having a significant and immediate impact on the market. We are growing fast, but this is only the beginning. We appreciate the additional capital from our partners at Napier Park and Relay Ventures, and welcome our new local partner, Conexus Credit Union, to the 7shifts family.
We are impressed by the accelerated traction that Jordan and the 7shifts team have achieved in such a short period of time. We are excited to contribute more capital to help fuel 7shifts’ growth and continued innovation of new solutions that help restaurants succeed.
Conexus launched our Venture Capital fund to support entrepreneurs like Jordan and the team at 7shifts, who are showing the world that high-growth, globally competitive companies can be built in Saskatchewan. Our entire team is thrilled to be joining the journey of such an ambitious company that is scaling fast and helping to put our tech ecosystem on the map.”
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