Quinyx raises US$50m as investor interest grows

Stockholm-headquartered workforce management software provider Quinyx AB today issued a statement announcing the close of a US$50 million Series C funding round to broaden the scope of its operations in the U.S., fund acquisitions and invest in product development, particularly in the intelligence features of its core offering.

The firm’s platform makes it possible for organizations to automate, optimize and streamline labor scheduling using a process designed to ensure that employees can partake and be carried along.

Designed and launched by a former McDonald’s Corp. employee who experienced firsthand the frustrations that come with the limitations of its legacy scheduling application, Quinyx’s platform is now home to a remarkable crop of leading and globally-relevant firms. This includes McDonald’s, Sysco Corp., Domino’s Pizza Inc., A.P. Moller-Maersk A/S and Deutsche Post DHL Group.

The total capital raised by the firm so far is set at over US$103 million. Founder and Chief Executive Erik Fjellborg noted that the firm’s largest installation encompasses 70,000 employees.

“Say you want to create a perfect schedule for 40,000 employees across North America,” said Fjellborg. “You need to go through an endless number of schedules to get to the best ones. Now we can apply multiple different algorithms to find the best schedule possible.”

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