Montréal software startup WorkJam has secured $35 million USD in growth financing from Silver Lake Waterman to support the expansion of its go-to-market initiatives.
Silver Lake Waterman is part of Silver Lake, a global investment firm based in California that focuses on providing growth capital to later-stage growth companies in tech and tech-enabled industries. Silver Lake Waterman provides late stage, pre-initial public offering growth investments.
“This financing will let WorkJam build upon its momentum and drive rapid global expansion,” said Steven Kramer, WorkJam’s president and CEO.
The minority investment comes just over a year after WorkJam raised a $70.6 million CAD Series C round led by Inovia. It follows “accelerating adoption” of WorkJam’s platform from firms looking to remain competitive during COVID-19. The round brings WorkJam’s total funding to date to about $144 million CAD ($105 million USD). WorkJam plans to use the fresh capital to expand its go-to-market initiatives, broaden its footprint, and add global customers “across all industries.”
“We believe that using technology to manage and optimize the frontline workforce is a critical investment priority for employers,” said Steven Kramer, WorkJam’s president and CEO. “This financing will let WorkJam build upon its momentum and drive rapid global expansion.” Kramer told BetaKit the startup plans to use the fresh capital to “accelerate [its] roadmap and aggressively expand its sales and marketing efforts globally.”
Founded in 2014, WorkJam offers a mobile platform designed to help employers manage frontline workforces. The company’s software can function as a standalone frontline productivity platform or serve within another frontline employee solution. WorkJam’s tech provides task and shift management, communication, training, and staffing, and is available in over 38 languages and countries.
WorkJam’s clients include Shell, Kroger, Ulta Beauty, DaVita, Avis Budget Group, Alimentation Couche-Tard. According to LinkedIn, the company employs 228 people.
The startup said it has seen strong adoption from companies looking to “optimize and digitize their frontline operations” to remain competitive as they navigate changing labour market dynamics. Over the past year, WorkJam has almost doubled its client base, and currently serves about 3 million frontline users.
Shawn O’Neill, Silver Lake Waterman’s managing director and group head, said WorkJam’s platform “provides a strong value proposition for managing human capital and the demands on frontline workers.” Kramer referred to access to Silver Lake’s experience and network “an important ingredient for [WorkJam’s] growth.”
WorkJam recently launched WorkJam Everywhere, which enables WorkJam modules to be embedded into other enterprise collaboration platforms like Microsoft Teams. The company also expanded its leadership team with the addition of former head of Fresche Solutions, Daniel Crepeau, as COO, and Microsoft alum Rich Halbert as CSO.
UPDATE (08/03/21): This story has been updated to include responses from WorkJam CEO Steven Kramer.
Feature image from WorkJam via Facebook