WorkJam Secures $50 Million in Series D Funding Round
MONTREAL--(BUSINESS WIRE)--Nov 22, 2022--
WorkJam, the world’s leading digital frontline workplace, today announced it has secured $50 million in a Series D funding round jointly led by new investor the Fonds de solidarité FTQ and returning investor Inovia Capital. Blumberg Capital and new investor Demopolis Equity Partners also participated in the round. WorkJam will use the new funding to expand its reach in Europe, Southeast Asia, Latin America and the U.S., fuel product innovation, and accelerate its business growth.
“Enterprise businesses across retail, hospitality, manufacturing and other industries are still dealing with turbulence within the workforce and the ripple effects of the Great Resignation,” said Steven Kramer, CEO of WorkJam. “We’re extremely proud to partner with this prestigious group of investors as we accelerate our momentum and help companies across the globe improve frontline workforce engagement, retention, job satisfaction and well-being.”
Amid a tight labor market, companies in multiple industries are competing intensely for talent and adopting WorkJam’s technology to empower their frontline employees with digital tools that help them seamlessly manage their schedules and tasks, access learning modules and features, and communicate with colleagues at every level of their organization. American Eagle Outfitters, Aramark, Circle K, DaVita Healthcare, Hilton, Shell and Ulta Beauty are among the leading global companies equipping frontline staff with the WorkJam app to drive retention, productivity and workplace happiness.
“The Fonds de solidarité FTQ is proud to continue its partnership with WorkJam, a company that creates healthy, people-centered workplaces,” said Dany Pelletier, Executive Vice-President, Private Equity and Impact Investments, at the Fonds de solidarité FTQ. “WorkJam’s strong growth points to the significant value it brings companies and their frontline staffs. This investment will allow the company to expand its international client base and further develop its various platforms. The Fonds will always be there to support the company in its growth and future plans.”
“WorkJam offers an unparalleled suite of digital capabilities that are positively transforming the workplace experience and helping companies connect to their frontline workers for happy and engaged employees,” said Tim Greenfield, Managing Partner, Demopolis Equity Partners. “WorkJam’s mission closely aligns with our own mission of creating significant economic value while making a positive contribution to society and we’re thrilled to partner with the company to support its vision and business growth.”
About WorkJam
WorkJam was founded in 2014 to improve the lives of frontline workers. As the world’s leading digital frontline workplace, WorkJam combines communication, task management, scheduling tools, learning, and more – all on one app. It is the only complete and unified system designed to revolutionize the way HQs and their frontline work together, boosting efficiencies and productivity. Available in over 45 languages with inline translations, the app helps organizations bridge language barriers and create a more inclusive working environment for all. WorkJam introduces Total Workforce Orchestration®. To learn more, visit WorkJam.com.
About Fonds de solidarité FTQ
The Fonds de solidarité FTQ invests to build a better society by channeling the savings of its 748,371 shareholders into development and risk capital investments to help Québec transition to a green economy, a people-centred world of work, and a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $17.4 billion in net assets as of May 31, 2022, the Fonds has supported 3,620 partner companies and 296,927 jobs. For more information on Fonds de solidarité FTQ, visit fondsftq.com.
About Inovia Capital
Inovia Capital is a full-stack venture firm that partners with audacious founders to build enduring global technology companies. Seeking to transform venture capital by perfecting the craft of investing in people first. Inovia Capital rolls up its sleeves to serve founders with dedicated, long-term mentorship, a global talent network, and strategic support for global scale. The firm aims to rewrite the rules of complex legacy industries, push technology frontiers and pursue bold visions of a better future. Inovia Capital manages over US$1B across five funds including early and growth stages, and holds offices in Montreal, Toronto, Calgary, San Francisco and London. Learn more at inovia.vc.
About Blumberg Capital
Blumberg Capital is an early-stage venture capital firm that partners with visionary entrepreneurs to build successful technology companies that empower individuals, businesses and society through the innovative use of AI, big data and other transformative technologies. We are passionate about nurturing B2B technology companies from Seed stage through their growth journey, as active board members and hands-on advisors. We were among the first investors in industry leaders including Addepar, Braze, DoubleVerify, Fundbox, Hootsuite, Katapult, Nutanix, Trulioo and Yotpo. Find us in Miami, New York, San Francisco and Tel Aviv or at blumbergcapital.com.
About Demopolis Equity Partners
Demopolis is a diverse led technology investment firm with a track record of delivering superior returns by leveraging its strategy acumen, entrepreneurial mindset, and deep sector expertise. The Demopolis team works closely with a unique network of entrepreneurs and successful management teams to help source primary, proprietary opportunities and deliver valuable insights to the businesses in which it invests. Demopolis leverages its broad network to assist portfolio companies in driving top line growth and brings operating experience that allows the Demopolis team to be credible partners to management. To learn more, visit demopolisequity.com.
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