Are you struggling to manage employee scheduling efficiently? Skello is here to help with its employee scheduling tool.
This revolutionary platform has just secured $47.3 million in funding, signaling a new era for workplace productivity!
You can now end long hours spent manually setting up employee shifts.
Introduction
Skello, a German company best known for its employee scheduling tool, announced that it has raised $47.3 million in a new financing round. Dell Technologies Capital led the funding with participation from the venture fund of Siemens, an existing investor. Other participants included CERN Contribution Fund1 and angel investors such as Lars Fjeldsoe-Nielsen, founder of Affectiva, and prior investors Cherry Ventures and ProSiebenSat1 Media SE.
The new capital will help Skello expand its offering beyond scheduling tools, which it has provided customers primarily in the hospitality industry since 2013. In addition, the company plans to develop software utilizing AI technology to improve the productivity and compliance of their customers’ workforce and their engagement and satisfaction.
Specifically they will be focusing on integrating existing technologies such as Cloud Connected Solutions and Big Data analytics developed internally by their development teams into their existing platform and developing additional features based on customer feedback collected during conversations with customers over the last seven years. This investment provides further endorsement to a business model which promotes long-term customer relationships through continual product innovation and focus on surpassing customer expectations with each release.
Overview of Skello
Skello is a cloud-based employee scheduling software designed to help businesses reduce the hours spent manually constructing employee schedules. It provides an automated solution that streamlines processes, saves time and money, and helps managers craft better employee schedules. The platform has easy-to-use tools like drag-and-drop editing, automatic shift notifications, analysis and optimization algorithms for managing skills and shifts, and various integrations with third party applications.
The company has recently announced a Series A funding round of $47.3 million led by Sequoia Capital. The investment will develop Skello’s product and respond to market demands. In addition to this, Skello plans on expanding its technology portfolio so it can better meet the complex scheduling needs of businesses all over the world in the coming years.
Skello raises $47.3 million for its employee scheduling tool
Skello, a cloud-based employee scheduling and time management solution, has raised $47.3 million in a Series B funding round led by Sapphire Ventures, with participation from Zetta Venture Partners, Galilei Ventures and M3 Technology Partners. This new financing brings its total raised to approximately $60 million.
Skello’s technology helps organizations manage employee schedules ‒ from retail stores and restaurants to hospitality and professional services companies. It uses AI-based forecasting capabilities to automate staff scheduling activities such as shift planning, shift swapping and vacation requests while providing visibility into employee compliance with labor laws according to each state’s regulations. The venture capital injection will be used to further advance its product innovation road map, including expanding its core features across US and international industries.
Benefits of Skello
Skello, the employee scheduling tool, has recently added $47.3 million in funding to aid its growth. This additional funding will help Skello build its expansive product roadmap and provide unique benefits to employers, employees and other stakeholders.
Employers can expect an increase in productivity as well as improved communication with Skello’s cloud-based platform. Scheduling can be programmed according to community needs or seasonality, while adjustments and updates are easy to facilitate with real-time data. Skello also provides transparency into labor laws and compliance requirements so businesses stay compliant.
Employees receive major benefits from Skello’s talent marketplace including full visibility of available shifts, allowing them to take control of their schedule and maintain a more balanced work/life balance. They can also use the platform for tasks such as submission of leave requests, shift swap requests and access to pay stubs and other documents. Lastly, employees get a real-time view of their progress towards goals such as attendance bonuses, which motivates better employee performance.
Stakeholders such as owners of multi-site businesses don’t have to worry about inconsistent processes between locations since Skello offers enterprise capabilities for organizations with multiple locations on the same platform using tools like location overlays and reporting insights across locations or business units. Finally, investors get access to comprehensive data analytics tailored specifically for workforce automation coupled with flexible pricing model basis usage which make it cost effective while still providing reliable analytics insights into workforce dynamics leading towards higher ROI realization opportunities than ever before with human labour or other software products available in market today.
Features of Skello
Skello is an AI-powered employee scheduling tool for business owners and managers. It helps companies create custom, optimized schedules that meet their unique needs. The software includes real-time data updates, personalized notifications for employee availability changes and compliance report generation to ensure adherence to labor laws. In addition, it allows users to manage any kind of rotating or on-call staff from anywhere with a connected device.
Other features include automated shift bidding, store level analytics and the ability to customize scheduling rules based on company policy. In addition, users can instantly communicate with employees directly or through group chat platforms.
By leveraging predictive algorithms and machine learning capabilities, Skello’s software enables businesses to create tailored schedules that maximize efficiency while delivering a great employee experience.
Impact of the Funding
The latest funding round has enabled Skello to expand its range of services, helping organizations of all sizes find the right personnel-management solutions to streamline their operations. In addition, the raise will help fund Skello’s plans to launch its affordable end-to-end employee scheduling and workforce optimization service in Europe next year.
The additional resources from the venture capital and private equity investors backing the company will drive product innovation and market penetration into other regions, enabling Skello to better serve customers worldwide. Additionally, the funds will be used to boost research and development efforts, hiring top talent, and marketing campaigns to further accelerate Skello’s growth in over 50 countries already served.
Overall, this new injection of capital will allow Skello to scale its services on a much larger scale while continuing to provide new features that give businesses increased control over their staffing budgets while reducing staff turnover rates. In addition, the funding should help support the comprehensive suite of features that make Skello’s employee scheduling tool highly effective for customers nationwide.
Future of Skello
Skello’s recent funding injection of $47.3 million will help further develop their employee scheduling tool. The raised funds will also allow for the expansion of Skello’s current platform and its integration with other workplace products and solutions. With a better workplace management platform, businesses can look forward to reducing costs while improving operational efficiency, increasing consistency and ensuring staff retain control over their time off requests.
The company’s previous oversight-focused approach ensures employers have greater visibility into labor rules and compliance issues in different jurisdictions across several countries. This heightened oversight function provides businesses with more accurate data insight which helps them to gain a better understanding of their workforce, reduce inefficiencies and confidently forecast labor costs over long periods.
The future for Skello looks set to include the exploration of emerging technologies such as artificial intelligence (AI) which could potentially offer further assistance in optimizing business processes when exploring employee scheduling solutions, automating manual tasks that were previously outsourced within HR functions as well as enabling predictive forecasting and trend predictions at an organizational level from an automated platform. Skello is also making strides towards creating a seamlessly integrated system between employers and employees to ensure everyone is always on the same page regardless of where or how they work.
Conclusion
The raising of $47.3 million from investors clearly indicates the importance that Skello places in its product and its future potential. This investment will no doubt help to further advance and perfect the tool, ensuring that businesses are better able to optimize and manage their staffing needs.
This will be great news for employers and employees looking for a better way to schedule shifts and maintain consistency despite turbulent market conditions. Thanks to this influx of capital, Skello will remain competitive in a rapidly growing market.
