Danish workforce management platform for people with shift-based jobs, Planday, announced on Wednesday it has raised $14 million investment to expand further into the US, strengthen its position in the European market, and develop integrations with other services for shift-based businesses, including payroll providers.
The round was led by new investors Idinvest, and also included Creandum, the lead investor in Planday’s Series A round, SEB Private Equity, and angel investor Arthur Kosten, co-founder of Booking.com.
Guillaume Durao, Investment Director at Idinvest Partners, stressed the role of the unique product built to address the complex needs of a mid-sized business and easy to use for both employees and managers. “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,” Durao said in a statement.
With more than €6 billion under management, Idinvest Partners is a major player in pan-European private equity focused on the middle-market segment. It was founded under the name AGF Private Equity in 1997 and was part of Allianz until 2010 when it joined forces with IDI as an independent firm.