Shyft Technologies Raises $6.5M in Series A
Shyft Technologies announces today that the company has raised $6.5M in Series A funding, as it continues its mission to improve the lives of millions of shift workers worldwide. Shyft’s app helps retail and service workers swap shifts, message each other, and earn more money by picking up shifts that might otherwise go unstaffed. Shyft’s additional suite of workforce management tools transform how employee scheduling and related tasks are managed. This new capital will be used to further the company’s focus on product development and innovation. The recent funding round, led by Ignition Partners and Madrona Venture Group, brings the company’s total funding to $8M. Bob Kelly, Managing Partner of Ignition Partners, and S. Somasegar, Managing Director of Madrona Venture Group, will join Shyft’s Board of Directors as part of this round.
Shyft has been chosen as the mobile workforce management platform for Gap Inc., including brands such as Old Navy, Gap, Banana Republic, and Athleta, in addition to other retail and service establishments that are both wholly-owned and franchise-based.
Employee scheduling is an issue that challenges businesses across multiple verticals. Providing flexibility, while ensuring appropriate staffing levels, is a tangible benefit Shyft’s solution provides to its enterprise customers. Companies that deploy Shyft understand the importance of finding meaningful ways to attract and retain talent. Companies are able to make a meaningful impact on their associates’ lives by empowering frontline teams with Shyft’s mobile technology.
“Shyft’s mobile platform is in high demand from global brands and associates to solve their scheduling challenges. Antiquated methods such as social media groups, text messages, and phone lists aren’t keeping up with today’s hyper-connected workforce,” said Shyft Co-founder and CEO Brett Patrontasch. “Shyft saves managers significant time that can be better used to serve customers and manage other aspects of the business that drive ROI. We are relentlessly focused on providing a groundbreaking mobile user experience for frontline workers, something traditional enterprise software companies have not prioritized.”
Shyft’s intuitive app helps employers solve labor inefficiencies by allowing companies to react instantly to fluctuating business needs. The Shyft app creates real collaboration amongst employees – productivity goes up and scheduling headaches notably decrease. Shyft users report a reduction in employee turnover and an increase in workplace morale.
“Shyft is changing the way hourly workers manage their schedules across its customers base of retailers, distribution centers and service establishments, putting control in the palms of their hands and championing employee empowerment,” said Bob Kelly, Managing Partner at Ignition Partners. “The product fit, market timing and of course the growth trajectory make us thrilled to work alongside Brett and the entire Shyft team.”
“By taking a grass roots approach, Shyft has built a product that employees love to use and simultaneously meets the needs of managers and their back office solutions. The ROI they provide their customers and the virality of the product is impressive. We’re excited to work with Shyft as they grow their footprint,” said S. Somasegar, managing director at Madrona Venture Group.
Shyft was founded in 2015 and has produced a truly innovative product offering in the workforce management space. Shyft’s app helps workers swap shifts, communicate with each other, and make more money by covering shifts. Companies who roll out Shyft fleet-wide empower their associates by offering scheduling flexibility and direct access to shift-swapping and posting. In turn, companies benefit from the reduction of redundant tasks which frees up time for frontline workers to focus on sales and conversion. The company continues to excel in product development and mobile expertise with a culture based on entrepreneurship and integrity. Shyft is also the 2018 Gold Prize Winner of the Seattle Business Magazine’s Tech Impact Award for Emerging Companies.