Shyft Raises $6.5M for Staffing Tools Used by Workers and Employers
Shyft Technologies, a Seattle-based startup that has developed a software platform for retail and hospitality workers, and their employers, says it has raised $6.5 million in new funding to further develop its product.
Two venture capital firms based in the Seattle area, Ignition Partners and Madrona Venture Group, led the Series A round, Shyft says. The startup says it has raised a total of $8 million in outside financing since launching in 2015.
Shyft says its software allows workers to claim and trade shifts, and send messages to colleagues and employers. Businesses can use the startup’s tools for scheduling and other tasks, Shyft says.
“Antiquated methods such as social media groups, text messages, and phone lists aren’t keeping up with today’s hyper-connected workforce,” says Brett Patrontasch, co-founder and CEO of Shyft, in a news release.
With Black Friday just over a week away, many retailers are bringing on additional help to get them through the busy holiday shopping season. Clothing retailer Gap (NYSE: GPS) uses the startup’s tools at some of its stores, Shyft says, and also at other chains Gap owns like Old Navy and Banana Republic.
Shyft is seeking to make inroads in the increasingly crowded field of on-demand staffing platforms, which fit into the broader “gig” economy trend. Some of the other companies that develop similar products and services are BlueCrew, Shiftgig, and Wonolo.
Shyft graduated from a Techstars startup accelerator program in Seattle two years ago.