Legion plans to use the funding to fuel development of its employee scheduling platform. Here are the top-line bullets you need to know.
Legion, an AI-powered workforce management platform, has raised $50M in a Series C with participation from Dollar General, Stripes Group, and XYZ Ventures, among others.
How’s the company performing?
- California-based Legion provides an AI-enabled workforce engagement platform to help labor-intensive businesses in retail, hospitality, food services, and more manage their hourly workforces. Its platform predicts when employees are most needed and matches schedules per employee preferences.
- The company saw a 391% year-over-year revenue growth in 2020.
- Legion caters to around 500,000 employees from over 20 companies, which include Dollar General, Six Flags, Portillo’s, Barry’s, and Soul Cycle, among others.
- The company states that its clients experienced a 50% reduction in scheduling time and 95% employee engagement using their software.
Source: Legion
Why does the market matter?
- The global workforce management software market is projected to grow at a CAGR of 6.38% and reach a value of $9.93B by 2026, according to Mordor Intelligence.
- The gig economy is experiencing exponential growth and is expected to generate $455B in billing in 2023, according to Statista.
- According to the Bureau of Labour Statistics, there are more than 73M hourly wage workers in the US, all of which are contributing to the growth of the industry.
