Planday raises 35 million euros in one of the largest funding rounds in Danish history


5 min read

Planday raises 35 million euros in one of the largest funding rounds in Danish history

Styrmir Masson

Styrmir Masson

Aug 28, 2018


    Planday raises €35 million in one of the largest funding rounds in Danish history

    The Planday team is very excited to announce that we've closed our Round C fundraising of €35 million!

    Our lead investor for this round is SEB Private Equity, who has previously invested in Planday. We're thrilled to continue our close relationship with SEB and feel honored that they believe in our mission and success so much that they want to continue investing in us. We also have additional investment from previous investors, including Creandum, Idinvest and LeadX Capital Partners. We'll use this investment to both extend our platform and accelerate expansion into new markets across Europe and North America.

    In the UK, where it is estimated that 26% of all work is shift-based, we're growing our user base at over 250% annually. This investment will enable us to establish a UK-based technology development hub (aka-- we're hiring!), as well as to grow sales and customer support teams from its London office. Over the last year alone, we've quadrupled our UK employee base and London is positioned to become our most significant hub.

    Christian Brøndum, our CEO, said “We are proud to collaborate with a broad global customer base, including brands such as Barry’s Bootcamp, Ottolenghi, and St Pancras Hotel. This investment will further enable us to help customers automate their business processes and save administrative time through our partnerships with industry leaders such as Apple, Lightspeed, Intuit and Sage. Our mission is to deliver fully integrated solutions that provide a seamless experience for our customers.”

    Our goal is to allow businesses to optimise their employee administration and integrate seamlessly into their payroll processes. Our customer base already spans 39 countries, and this investment will give us the kickstart we need to expand further globally, as the worldwide workforce management market is expected to reach $11.09 billion by 2025.

    Victor Lang, Chief Investment Officer at SEB Private Equity, adds to this "We have backed companies in several traditional industries that have been revolutionized by cloud-based SaaS technology. We believe Planday is well positioned to spearhead automation and simplicity within workforce management, which is why we are excited to lead this round of funding for Planday, as well as team up with the Planday management team to continue scaling new ways of collaboration for shift-based businesses."

    Johan Brenner, General Partner at Creandum and Chairman of the board for Planday commented further "We are as excited to invest in Planday as we were to invest in iZettle and Spotify. We can see a huge market opportunity for Planday as they continue to grow internationally to improve the lives of 1 billion shift workers across the globe. Planday paves the way for a digital revolution for shift workers and their managers.”

    Needless to say, we're absolutely thrilled about this funding round! We're excited to continue pursuing our goals and mission at a breakneck speed, and look forward to continuing the journey with SEB, Creandum and Idinvest. And most importantly, we want to give all our customers a big thanks. We're honored that our customers let us play such a vital role in running their businesses. Here's to the journey ahead 🍻

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