Hospitality platform 7shifts secures $101.6 million CAD to increase staffing, product development

Startup says it added more than 10,000 restaurants to its platform last year.

On the heels of what it called a significant year of growth, 7shifts has secured $101.6 million CAD ($80 million USD) in Series C funding. SoftBank Vision led the round with participation from existing investors Ten Coves Capital and Enlightened Hospitality Investments.

7shifts will use the latest round of funding to double the size of its team and continue to build products for the employee lifecycle, to help restaurant operators connect all aspects of their HR processes − from hiring, onboarding, training, scheduling, and paying, to retaining. The startup did not disclose when the round closed.

7shifts provides an end-to-end technology platform built for restaurants to simplify team management as they adapt to labour challenges and face pressure on profitability and compliance. Its platform helps with such things as team communication, task management and tip pooling.

The startup claims that in the last year it added more than 10,000 locations and over 400,000 workers to its platform, and has more than doubled its partner integrations.

RELATED: Why 7shifts founder Jordan Boesch fired the majority of his customers

7shifts recent growth includes the addition of a number of multi-unit brands, including FUSIAN, Salt & Straw, Hook & Reel, Mezeh Mediterranean Grill, and Flagship Restaurant Group.

The startup claims that over 650,000 “restaurant pros” across North America, Europe, the Middle East and Australia use its platform.

Jordan Boesch launched 7shifts in 2014 while working for his dad at Quiznos. He witnessed the pains of building schedules first-hand while watching his dad manage and schedule several employees across his two locations—it was at that point that started working on 7shifts.

The startup raised $25.9 million CAD ($21.5 million USD) in Series B financing in May 2021. 7shifts total funding to date sits around $152 million. The startup initially planned to raise its Series B in March 2020. But, when COVID-19 hit and restaurants shut down due to public health concerns, 7shifts put those plans on hold, and was forced to furlough 40 of its 160 staff.

7shifts currently has its headquarters in Saskatoon, with offices in Toronto and New Jersey. For its new headquarters, 7shifts leased a 22,500 square foot space in the Nutrien Tower, a riverfront office and retail development property in River Landing near downtown Saskatoon In October.

Image source 7shifts.

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Author: wpadmin

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