Creandum, SEB Private Equity, and Booking.com co-founder Arthur Kosten also participated in the round. The company will use the new funds to continue its expansion into the US, continue its growth in Europe, and further develop how its “mobile-driven” SaaS platform integrates with similar services like payroll providers and Epos technologies.
The startup currently has users in 24 countries and customers in sectors like retail, hospitality, and leisure, and employs 80 people in five global offices.
“Right now the workforce management space consists of tools that are either too simple with only a few features, or overly complex systems that are difficult to roll out,” said Guillaume Durao, investment director at Idinvest. “After a thorough analysis of the global market, we’ve found Planday to be a uniquely feature-rich SaaS solution that is specifically built to address the complex needs of a mid-sized business and easy to use for both employees and managers.”
Planday previously raised a $3.75 million Series A round from Creandum in 2014 with additional funding last year from an angel investor.