WorkJam Secures $50 Million in ‘Series D’ Funding
WorkJam has secured $50 million in a Series D funding round, which was jointly led by a new investor: the Fonds de solidarité FTQ. Prior investor Inovia Capital also joined this round, which WorkJam said will be used to expand into Europe, the U.S., Latin America and Southeast Asia.
The money will also be used to drive product innovation and accelerate its business growth, the company said, adding that given the current 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.” WorkJam is an app-based solution.
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Steven Kramer, chief executive officer of WorkJam, said enterprise level businesses “across retail, hospitality, manufacturing and other industries are still dealing with turbulence within the workforce and the ripple effects of the Great Resignation. 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.”
Dany Pelletier, executive vice president of private equity and impact investments at the Fonds de solidarité FTQ, described WorkJam as “a company that creates healthy, people-centered workplaces.”
Pelletier also noted that 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.”
American Eagle Outfitters, Aramark, Circle K, DaVita Healthcare, Hilton, Shell and Ulta Beauty use the app. WorkJam was founded in 2014.
