Denmark's Planday raises $3.75 million
Creandum, a venture capital firm that specialises in innovative tech companies and an early investor in Spotify, has spotted the huge growth potential of Denmark's Planday – a plucky young startup specialising in the as yet untapped market of employee shift planning. Not one to invest lightly, Creandum has backed the startup to the tune of $3.75million, giving it a sizeable war chest with which to expand abroad.
The startup, which in the words of its Twitter profile is 'aiming for world domination within online employee scheduling', will begin by establishing a presence in the UK later this year, and plans to set up shop in the US by 2015. Given that the company is already profitable and its approach - delivering an online shift planning solution via the SaaS model - is tried and tested, the stage is now set for rapid expansion.
In fact, Planday's client list already boasts the likes of JustEat and Best Western, who appreciate the scalability and simplicity of the startup's innovative software solution. SaaS has proved to be a revelation for young tech enterprises, and Planday appears to have entered the market at just the right time.
Co-founder Christian Brondum has said the company expects to see a "landslide" in the number of businesses shifting from manual shift planning methods - pen and paper, spreadsheets - to SaaS solutions over the next five years. And while it may face a certain degree of competition, its impressive client list, multi-million dollar bank balance and experienced backers will make sure it leads the pack.