# Shyft Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shyft-technologies

- Industry: Software
- Headquarters: Seattle, US
- Website: www.myshyft.com
- Total disclosed funding: $8M
- Latest round: Series A (Aug 26, 2019)
- Investors on record: 3

## About

Shyft Technologies Inc. provides employee scheduling and shift marketplace solutions that enhance workforce management across various sectors, empowering hourly workers to manage their schedules effectively.Founded in 2015 in Seattle, US, Shyft Technologies Inc. specializes in workforce management solutions. The company has participated in 3 deals, with its most recent funding round being Series A on August 26, 2019. The firm raised USD 6.50 mn from investors including Ignition Partners and Madrona Venture Group. Brett Patrontasch serves as both founder and CEO, previously leading other ventures in technology and operational management.Shyft Technologies, Inc. specializes in employee scheduling and shift marketplace solutions designed to streamline workforce management for various industries. Their core product offerings include a platform that enables employees to post, swap, and fill shifts seamlessly from any device, thus eliminating the reliance on traditional spreadsheets. The system empowers end-users, primarily hourly workers, to manage their schedules autonomously while keeping managers informed. This functionality caters to sectors such as retail, hospitality, healthcare, and supply chain, serving a diverse customer base of over 2 million hourly workers across North America. The service was designed to enhance employee satisfaction and engagement by providing flexibility and responsiveness to scheduling needs.Shyft Technologies generates revenue primarily through subscription-based models, offering tiered pricing plans for their scheduling services. Clients typically enter into agreements that allow access to the platform's features, which include automated shift planning and team communication tools. The company emphasizes building robust partnerships with various organizations, ensuring that its services cater to the specific needs of each client. The pricing structure is tailored to accommodate different usage levels and organizational sizes, though specific costs for individual services or products are proprietary. This revenue model aligns with B2B transactions, as organizations leverage Shyft’s technology to optimize workforce management and improve operational efficiency.Shyft Technologies aims to enhance its product offerings and expand its market presence. They are currently designing new features for their scheduling platform, with plans to launch updates in the upcoming year. The company targets expansion into additional geographic regions within North America, aiming for completion by the end of the next fiscal year. Recent funding from the Series A round will support these initiatives, enhancing product development and market penetration strategies.

## Funding rounds

- Series A, Aug 26, 2019 — FJ Labs
- Series A, Nov 15, 2018, $6.5M — Ignition Partners, Madrona Venture Group
- Seed, Jul 13, 2016, $1.5M — Madrona Venture Group

## Investors

- Madrona Venture Group (https://capitalatlas.ai/funds/madrona-venture-group) — Seed, Series A
- Ignition Partners (https://capitalatlas.ai/funds/ignition-partners) — Series A
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A