Swedish Chamber of Commerce: "Quinyx - Receives $12m investment from Battery Ventures"
Posted by Emma Söderberg.
SCC member Quinyx, which provides workforce-management solutions through cloud-based software, just landed a $12m investment from global tech-focused investment firm Battery Ventures.
Quinyx was founded in Örebro, Sweden, back in 2005 by CEO Erik Fjellborg, when he was working part time at McDonald´s. Erik realised the difficulties and stress associated with staff rotas and calling around to fill shifts last-minute. This experience became the start of software as a service (SaaS) company Quinyx. McDonald’s Sweden became the first customer and Quinyx is now helping managers and employees around the world to simplify labour-intensive processes such as scheduling, payroll and communication through a mobile app.
During the past decade, Quinyx has grown rapidly and expanded internationally. Today Quinyx has about 275,000 users and over 500 customers in 20 countries including companies such as Papa John’s, Debenhams, Rituals Cosmetics, DHL, Gant and London City Airport.
The new $12m investment by American tech-investor Battery Ventures emphasises the need for online and mobile tools provided by companies like Quinyx in order to manage administrative tasks in labour-intensive companies as well as taking use of artificial intelligence (AI) and data to find the optimal solutions. Battery’s general partner Michael Brown, who will also join the Quinyx board, said: “The market for this technology is enormous, and we think Erik and his team are true pioneers in this area. Quinyx has just scratched the surface in terms of where it can take its business.”
Read the full article here.