Planday, the leading Saas workforce management software company, just raised $3.750m lead by Creandum. Creandum is behind investments in companies such as Spotify, Izettle, Videplaza, Vivino and Autobutler and has played a significant part in their international success. The funds will be used to further expand Plandays business internationally.
“We have grown organically since day one, and we have been profitable from the beginning. However, we needed capital to speed up our geographical expansion as we want to capture this $Bn opportunity. Mid 2013, we went on the hunt for venture capital, and on our search, we found an investor, who will not just provide the necessary funding for our growth, but is also extremely competent in cracking some of the challenges we face ahead,” Christian Brøndum, the CEO of Planday, says.
Planday’s software-as-a-service solution makes it easy for companies to handle employee scheduling, shift trading, communication, HR and payroll. Today, the majority of small and medium-sized businesses handle these tasks on whiteboards or in spreadsheets. However, these ways of managing employees and administrative tasks are extremely inefficient and leave room for mistakes. This is where Planday has found their niche, creating an online solution accessible from any online or mobile platform by everyone in the company.
”There a lot of small and medium-sized companies in the international markets to whom we can pitch our product. In the next few years, many of these companies will discard their pen and paper solutions and choose a modern cloud based mobile software solution instead. We want to be the solution they choose. Our customers get pay back immediately after using our system and basically never leave our platform, so we have great experience in keeping our customers happy once they have started using Planday. With the money from Creandum, we are able to take the necessary steps much faster than we otherwise would have, and we therefore have a real chance of becoming the number one scheduling system in the world,” Christian Brøndum says.
Creandum, based in Stockholm and Palo Alto, first met Planday when the Danish company pitched their business case in Silicon Valley last fall.
Johan Brenner, partner in Creandum, continues: “We strongly believe that the Planday team has what it takes to make the company an international success. They already have a good, solid customer base with many loyal customers. And they have already proved that they can grow and make money at the same time. There is a huge market for software solutions making businesses’ workdays a bit easier, and we already have a lot of experience in Saas companies I general and selling to the hospitality industry in particular, which is why Planday seemed like a perfect company for us to invest in,”