E.I. – Employee Intelligence:
shyftplan raises € 3 million
The Berlin-based startup shyftplan redefines the way companies communicate with and manage their employees and announces SAP partnership.
Unternehmertum Venture Capital Partners, Senovo and coparion are investing with a participation from existing investor KIZOO Technology Capital as part of a series A financing round in the workforce management software provider.
Berlin – October 5th, 2017. “Communication and self-determination of employees are two big topics for companies that shyftplan tackles.”, says co-founder John Nitschke. “Instead of betting on AI, we’re betting on EI – employee intelligence – to make employee management more efficient and employees happier. We take on that last-mile-communication to the employee that hasn’t been digitized in companies so far.”
shyftplan already simplifies employee management and communication for customers in over 16 countries with 100,000 users and over 55 million hours planned. From Hamburg’s ice cream manufactory “Luicella’s Ice Cream”, who just came to fame in German TV show “Die Höhle der Löwen”, to internationally operating corporations, shyftplan covers the whole spectrum. “In the digitization of companies, we see a big need especially in the mobile employee digitization, that’s why we also work together with strategic partners to deliver the best possible product to our customers. Especially in the industry 4.0 and in corporations, SAP plays an important role as a partner. shyftplan is official SAP partner since the beginning of the year and cooperates on the technical as well as on the sales side with the SAP AG”, explains co-founder Jan-Martin Josten.
For their series A, the startup got Unternehmertum Venture Capital Partners (UVC Partners) as their lead investor as well as Senovo and coparion to join the investment round. Kizoo Technology Capital, who participated in the previous financing round, completed the round. In total, the founders Jan-Martin Josten and John Nitschke raised € 3 million. Besides the new funding, both founders are happy to have new, strong partners on board as for example UVC Partners’ strong contacts to big German industrial enterprises and Senovo’s expertise in the B2B SaaS space will bring an additional benefit. Alongside the extension of the team, the new capital will be used to further develop the product as well as to pursue marketing and internationalization efforts.
“Our current core product is scheduling,” says co-founder Jan-Martin Josten, “but with our features for absence management, time tracking, working time accounts, HR management and payroll, shyftplan already brings together all the important parts of employee management and communication – and that’s just the beginning.”
Company information Unternehmertum Venture Capital Partners:
Unternehmertum Venture Capital Partners (UVC Partners) is a Munich-based early-stage venture capital firm that invests in technology-based startups in Germany, Austria, and Switzerland. UVC Partners focuses on B2B business models in the areas of Industry 4.0, IoT, Manufacturing Technologies, Software & SaaS, Mobility and Smart City. Portfolio companies benefit from the extensive experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation and business creation center. With over 150 employees and more than 50 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. Even though being fully independent, it enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners.
Company information Senovo:
Senovo is a Munich-based early-stage fund with a focus on B2B SaaS investments. The Senovo team believes that SaaS should be the dominant model for delivering software and is thrilled about the great market opportunities which are continuously created by the tectonic shift towards SaaS. Senovo funds outstanding entrepreneurs and teams building world-class products and generally gets involved soon after product launch.
Company information coparion:
coparion provides venture capital to accelerate momentum and growth. With a current active fund of 225 million Euros, coparion has the means to do so. coparion supports entrepreneurial vision with know-how, but without intervening in daily business operations. Thanks to in-depth experience in venture capital and in building companies, the coparion team discerns potentials and opens up new perspectives. coparion has the substance, tenacity, and creativity required to mutually manage difficult situations successfully. coparion only invests with co-investors. The fund invests up to 10 million Euros per company, usually in several financing rounds of 0.5-3 million Euros each. Investment focus is on German companies in the startup and early growth phase. coparion is based in Cologne and Berlin.