The Series D funding brings Quinyx's valuation to $550M. Here are the top-line bullets you need to know.
Quinyx, a provider of gig and hourly workforce management software, has raised $50M in a Series D round that drew participation from Alfven & Didrikson, Battery Ventures, and Zobito.
HOW’S THE COMPANY PERFORMING?
- Sweden-based Quinyx offers work scheduling, task management, time reporting, communications, budgeting, and forecasting tools to gig and hourly workers.
- The company caters to the retail, hospitality, facility management, healthcare, logistics, and food delivery industries.
- At present, Quinyx has over 100 clients, including McDonald’s, Oatly, Domino’s, Burger King, Well Pharmacy, Maersk, and DHL.
- The company has offices in Sweden, the US, the UK, Australia, Finland, Germany, Norway, Denmark, and the Netherlands.
- Quinyx is supported by a team of over 300 employees.
WHY DOES THE MARKET MATTER?
- The global workforce management software market is expected to reach a value of $10.6B by 2027, growing at a CAGR of 7.82%, according to Renub Research.
- The retail, education, healthcare, BFSI, manufacturing, and TMT industries have been increasingly adopting this technology in order to expedite operations and cut costs.
- The current labor shortage has increased the demand for solutions to connect employers with prospective employees.