Canadian workplace management platform WorkJam has secured nearly $16 million (US$12 million) in a first-time financing. The round was backed primarily by U.S. venture capital firms, including Lerer Hippeau Ventures, Blumberg Capital, Founder Collective and NovelTMT. Founded in 2014, Montréal-based WorkJam has developed an employee engagement solution aimed at enabling the mobile digital workplace for shift-based, hourly and non-desk workers. Led by President and CEO Steven Kramer, who previously co-founded iCongo, the company will use the funds raised to enhance its platform and accelerate global growth.
WorkJam Completes $12 Million Strategic Investment Round From Lerer Hippeau Ventures, Blumberg Capital, Founder Collective and NovelTMT
Leading equity investment firms team up with WorkJam to drive the future of the Mobile Digital Workplace
MONTREAL, Feb. 28, 2017 (GLOBE NEWSWIRE) — WorkJam, the leading digital workplace platform for hourly workers, today announced that the company has closed a growth investment round with Lerer Hippeau Ventures, Blumberg Capital, Founder Collective, NovelTMT and WorkJam’s management team. The funding signals WorkJam’s fast growth in the workforce management space and strong market demand for the WorkJam platform.
This strategic investment will allow WorkJam to continue investing in enhancing its already robust mobile platform as well as accelerating the company’s global expansion.
“Employers today know that one of their most critical objectives is the enablement of the digital workplace, and no other company on the market delivers a total digital workplace platform like WorkJam” said Eric Hippeau, managing partner of Lerer Hippeau Ventures. “We consider WorkJam to be in a class of its own and are thrilled to be partnering with WorkJam as it continues to make a global impact on how the service industry looks at employee management.”
WorkJam continues to be a leader and innovator in providing large and mid-sized service organizations with an end-to-end solution that enables a digital workplace for customer-facing employees across many industries including retail, hospitality, healthcare, manufacturing and distribution. The WorkJam platform includes full integration with existing back-office workforce systems such as Kronos, JDA, Infor and has stand-alone capabilities that provide a seamless, real-time, digital employee self-service experience which spans from shift scheduling, communication, training, task management, mobile time-clock, rewards and recognition.
“Innovation in the workforce management technology space for hourly workers has been limited, with most companies relying on outdated scheduling tools, back-office heavy processes, manual processes and methods of communication that are simply out of touch,” said Bruce Taragin, managing director, Blumberg Capital. “Both companies and employees need a better solution. At Blumberg Capital, we are confident WorkJam’s mobile-first solution can change the way today’s businesses operate. WorkJam is the first and only solution to drive employee engagement, enabling a company’s hourly workforce to be more knowledgeable, engaged and efficient while adhering to new labor regulations and furthering the bottom line.”
Founder Collective Managing Partner, Eric Paley, added, “WorkJam continues to solidify its title as the leader in workforce management technology and hourly workforce enterprise application. We are excited to be partnering with WorkJam and what’s to come for the industry as a whole.”
“We are proud to have caught the attention of some of the most respected names in technology investing, and look forward to having these new partners join us as we continue to make major strides in the global workforce management market for both large and mid-sized organizations,” said Steven Kramer, President and CEO of WorkJam.
WorkJam is the only employee engagement suite on a mobile-first platform, empowering the digital workplace with shift-based and hourly workers to manage and optimize their entire employee-employer relationship life cycle with dynamic mobile schedule management, on-demand training and assessments, streamlined communication, employee recognition and reviews.
WorkJam increases sales conversion, drives down labor costs, lowers attrition rates, improves compliance, optimizes labor in relation to demand, and improves the customer experience through a more motivated and engaged staff. For employees, WorkJam delivers more control over their schedule providing work-life balance, as well as the opportunity to develop skills, improve sales acumen and maximize their earnings and advance their economic well-being. Learn more about WorkJam at WorkJam.com.
About Lerer Hippeau Ventures
Lerer Hippeau Ventures is a venture capital fund based in New York City. We respect and seek out entrepreneurs with product vision, consumer insight, focused execution, and unwavering ambition. When we are lucky enough to meet founders with these qualities, our hope is that they will choose us as a partner. All of us have started and run companies for a living. Lerer Hippeau Ventures is where we invest in our peers. Investments include BuzzFeed, Casper, Warby Parker, Doctor On Demand, Giphy, Percolate, and others. More on http://lererhippeau.com/
About Blumberg Capital
Blumberg Capital is an early-stage venture capital firm that partners with passionate entrepreneurs to innovate and build successful technology companies. The firm specializes in leading Seed and Series A rounds collaborating with angel investors, other venture capital firms and strategic partners. The Blumberg Capital team are active investors and board members – operating as an extension of the entrepreneurs’ network. Blumberg Capital is headquartered in San Francisco with team members in Tel Aviv and New York. For more information, please visit blumbergcapital.com.
About Founder Collective
Founder Collective is a leading fund that has invested in companies like Uber, BuzzFeed, Cruise, and The Trade Desk. Built by a collection of successful entrepreneurs, Founder Collective’s mission is to build the most aligned fund for founders and has offices in Cambridge, MA and San Francisco, CA.
About NovelTMT Ventures
Novel TMT Ventures backs stellar teams building innovative products and services to improve user experiences and efficiencies in commerce, media and payment.
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Photo courtesy of WorkJam