附近上门

Redwood City, California-based closed a $50 million Series C to try to help companies find the right balance between workforce and market demand as the world emerges from a pandemic.

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The new round was led by , and included participation from existing investors , , , and . The company has now raised a total of $85.5 million.

The Series C comes just nine months after the workforce management software developer closed a $22 million Series B. The decision to raise again was easy after the company grew 391 percent in the last year.

鈥淲e saw such a great opportunity with how this product and market is expanding,鈥� said , operating partner at Stripes.

Managing workers

Legion was founded five years ago by , also the company鈥檚 CEO. With a background in enterprise software, Mondkar was drawn to workforce management.

鈥淟abor always has been interesting to me,鈥� he said. 鈥淭he scope and volume is massive and it impacts people鈥檚 lives.鈥�

The company鈥檚 platform uses AI to help businesses in labor-intensive industries such as retail, distribution, manufacturing, hospitality and food services to manage their workforces 鈥� helping to figure out when employees are needed, while also generating schedules and communicating with employees.

More than 20 mid-sized and large enterprises with more than 500,000 employees are on the platform, Mondkar said. Many of the employees on the platform are hourly employees 鈥� without even a work email 鈥� so being able to engage on the platform is crucial, especially during times like last year when the pandemic caused massive shifts in the need for labor, he added.

Although estimates of the market can vary, a partner at Stripes, said they estimated the market for workforce management in North America alone to be $5 billion.

While there are several incumbents that help companies manage labor such as , and , Mondkar said he views Legion鈥檚 platform as a next-generation solution in a market that is desperate for innovation.

鈥淭his market has not seen the kind of innovation we are bringing in quite a while,鈥� Mondkar said.

Melchiorre said that technology combined with the market size could lead Legion to become a very special company.

鈥淲e invested thinking this could be a large public company approaching $1 billion in revenue,鈥� he said.

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