- Snapshift, the French SaaS HR app for businesses in the hospitality and retail sectors, raises $45m from Highland Europe
- The company plans to hire 150 people in 2022, tripling its size, to become the leading People Operating System for the deskless workforce in Europe.
Paris, 2 February 2022 – Snapshift, the HR platform for managing the deskless workforce, is announcing that it has raised $45 million in new funding as it begins a major push into new markets. Highland Europe led the round with participation from existing investors Bpifrance and UL Invest.
Following huge demand for its services in 2021, Snapshift now supports more than 6,000 customers including Subway, Pizza Hut, Spar, Amorino, Biocoop, Fitness Park, Columbus Cafe and Carrefour to better manage their deskless workforces with 100,000 employees using the app. It is disrupting the status quo right across the hospitality, leisure and retail sectors, where many businesses still rely on decades old tools to run their businesses. The Series A round will enable Snapshift to expand to all SMEs in the restaurant, hotel and retail sectors in Europe, with Spain as its first international target market.
One crucial mission: modernise HR for the deskless workforce.
The deskless workforce represent 80% of the world’s workforce, but only a fraction of IT budgets worldwide are allocated to developing their technologies. The sector has fallen far behind when it comes to digitalisation, presenting an urgent need for modern HR solutions that automate key workflows within team managing, scheduling and payroll.
Snapshift’s original product was created by startup and restaurant entrepreneur Olivier Severyns to help him manage his own staff rotas. Following strong interest from other restaurateurs, he decided to launch Snapshift and dedicate all his time to solving the urgent need to digitalise and scale HR tools for the deskless workers. The business now has over 70 employees.
From the start, Snapshift’s mission has been to provide a full and centralised People Operating System to support SMEs in their digitalisation, internal organisation and employee communication. It is one of the first HR tools exclusively designed for frontline workers within the service industry, driving improvements in performance and quality of work.
Olivier Severyns, founder and CEO of Snapshift said: “Our mission is to help SMEs understand and optimize all things human resources-related, by simplifying payroll management, staff scheduling and providing guidance on complexities like ever changing social and employment laws. Many of Snapshift’s customers have been affected by lasting talent retention issues, precipitated by Covid. Snapshift’s product enables our customers to modernize their management systems, and promote trust and transparency, making them ‘great places to work’ for employees.
On the back of tripling its revenue in 2021, Snapshift plans to hire 150 people in 2022.
With the upheaval that came with the COVID-19 crisis, HR technology was forced to evolve to meet new worker needs. During 2022, Snapshift will build on the demand for its product and services with plans to hire 150 people across tech, product, custom support, marketing and sales teams to enable the business to launch in Spain in the coming months and a third country by the end of 2022. At the same time, responding to customer needs, Snapshift will continue to develop new products and features.
Jean Tardy-Joubert, Partner at Highland Europe, said:
“We spoke to countless businesses in the broad hospitality and service industries that are struggling with the exact pain point that Snapshift is solving. As many industries face growing staffing problems, we believe there is a vast opportunity for Snapshift to bring its mission critical platform into other sectors. We are very impressed by what Olivier and his team have accomplished in such a short space of time.”
Founded in 2016, Snapshift offers a digital planning and HR management hub, a People Operating System, for SMEs in the hospitality sector and beyond. Snapshift helps businesses with 5 to 1,000 employees as well as franchises to improve how their teams work, communicate, and grow. The Paris-based startup helps over 6,000 customers today and plans to accelerate its growth and expand internationally with its latest funding of $45 million.