Quinyx Secures $25M Investment
LONDON and STOCKHOLM, Jan. 15, 2019 -- Quinyx, a leading cloud provider of workforce management solutions, today announced a further $25 million investment in its global business. The company’s software helps businesses of all sizes manage employee scheduling, communication, task-management and payroll integration.
The investment was led by Quinyx’s existing investors Alfvén & Didrikson, Battery Ventures and Zobito. The investment represents the largest investment in the company to date, demonstrating confidence among its investors as it continues to grow into the $2.4 billion global workforce management market.
The funding will further accelerate Quinyx’s roll-out of innovative features and new AI technologies that will automate and streamline workforce management processes.
Quinyx currently has close to 500,000 employees on its platform, and supplies workforce management technology to some of the world’s most admired companies. Clients include McDonald’s, London City Airport, Burger King, Rituals, Swarovski, IHG, Boots, and many more. Recent wins include Daniel Wellington and Odeon Cinemas Group.
Commenting on the investment, Erik Fjellborg, Founder and CEO of Quinyx said: “Today’s announcement will help us to accelerate our growth journey and develop and embed new technologies into our platforms to unlock the full potential of the flexible workforce. Our mission is simple – to create a better life for millions of people by improving their work lives.”
Maria Åhr, CEO of Alfvén & Didriksson: “Quinyx is a game changer in workforce management. Its consistent growth and calibre of its customers confirms its strong potential for future global growth. We look forward to playing an active role in the company’s next chapter.”
Michael Brown, general partner of Battery Ventures added: “Having joined the board at Quinyx when we invested in the company last year, I’ve seen first-hand the ambition and drive Erik and his team have shown in going after this large market. Quinyx has made significant progress in the last year by continuing to focus on the strength of its technology. This new investment will help take Quinyx’s business to the next level.”