Montréal-based digital workplace solutions startup WorkJam has closed a $70.6 million CAD ($50 million USD) Series C round. This brings WorkJam’s total funding to date to $98.9 million CAD ($70 million USD).
“Given the current environment, it has never been more clear that every company with a frontline workforce will require a digital workplace platform.
The round was led by Inovia Capital through the firm’s growth fund, with participation from Fonds de Solidarité FTQ and Claridge. All of WorkJam’s existing investors also participated in the round, including Lerer Hippeau, Blumberg Capital, Harmony Partners, and WorkJam’s management team. The startup will use the funds to work on its innovations, expand geographically, seek acquisitions, and invest in its employees.
WorkJam’s platform is targeted at employers of frontline workers, specifically those who are considered “non-desk” workers and do not have the resources to manage certain tasks, such as availability and schedule changes. The large funding round comes as businesses and employees across the country are shifting to remote work, due to the COVID-19 pandemic.
“WorkJam’s ability to meet the needs of the modern frontline workforce strongly aligns with our thesis for the future of work,” said Inovia partner Dennis Kavelman.
“We believe that given the current environment, it has never been more clear that every company with a frontline workforce will require a digital workplace platform like WorkJam’s, now, and into the future,” Kavelman added.
WorkJam provides a digital workplace platform for large and medium-sized companies. The solution puts scheduling, employee communication, training, and task management in one place for workers.
WorkJam’s software helps non-desk employees with scheduling capabilities, an open shift marketplace, task management, communication between frontline and headquarters staff, mobile punching, and training.
“We’ve always believed in the positive impact our technology has on non-desk workers and the business goals of the companies that employ them,” said Steven Kramer, CEO and president of WorkJam. “Now, we can further accelerate the digital transformation of scheduling, training and communication processes at a time when there are profound changes taking place which impact non-desk workers and how businesses operate.”
Inovia’s growth fund, which secured $530 million CAD in February 2019, invests in growth-stage companies. Inovia partners Kavelman and Patrick Pichette, who both lead the growth fund, will be joining WorkJam’s board of directors as a result of the investment. Kavelman has served as the chief financial officer (CFO) of BlackBerry and Pichette served as CFO of Google. WorkJam said these board additions will bring “deep operating expertise” to the company.
In an effort to help businesses and frontline employees confront the disruption to the economy caused by COVID-19, WorkJam is offering a new communication, survey, and training modules in a package that can be implemented in five days. The company said it is individually working with organizations and is basing pricing on clients’ current circumstances.
Image source WorkJam via Facebook.