Proceeds from 7shifts Series C round will enable technology firm to double size of staff
7shifts, an employee management platform for restaurants, completed its Series C funding round valued at $80M. SoftBank Vision Fund 2 led this raise, with participation from Ten Coves Capital and Enlightened Hospitality Investments.
The technology platform was designed for restaurants to simplify employee management. As labor challenges have grown and resulting pressures have disrupted restaurants. 7shifts’ software helps restaurant operators achieve profitability and compliance.
With 7shifts, restaurants can more simply receive schedules, trade shifts and manage tasks. The end-to-end technology platform has grown to be used by 650,000 restaurant professionals at 27,000 locations globally.
In 2021, 7shifts added more than 10,000 locations and 400,000 workers to its platform. The 7shifts Series C round of investment will enable the tech firm to double its team and continue to build software for the restaurant employee lifecycle.
“We are proud to welcome SoftBank as our newest investor and deeply appreciate their confidence in our mission to simplify team management and improve performance for restaurants,” said Jordan Boesch, chief executive of 7shifts. “Over the past two years, restaurants have dealt with countless challenges, and now more than ever need technology to streamline operations, empower workers and improve team retention.”
Restaurant operators will be able to easily complete HR processes, including hiring, onboarding, training, scheduling, paying, and retaining. Additionally, 7shifts will expand its API, minimizing gaps in connecting the software with other technology.
“The restaurant industry is rebounding from COVID, but hiring and retaining staff remains a challenge to sustaining this growth,” said Ram Trichur, partner at SoftBank Investment Advisers. “7shifts is helping restaurants everywhere improve their operating efficiency and gives their teams the tools they need to be employers of choice. We are thrilled to partner with Jordan and the team to support their mission to simplify team management and improve performance for restaurants.”
7shifts has added high-profile restaurant brands as clients. FUSIAN, Salt & Straw, Hook & Reel, Mezeh Mediterranean Grill, and Flagship Restaurant Group have embraced its team management platform.
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