ShiftOne, an Arlington, VA-based employee retention tool designed to cut restaurant turnover probability in half, raised a $2.6m supplement to its seed funding.
The round was led by The Entrepreneurs’ Fund, with participation from seed investor Bowery Capital and newcomer NRD Capital.
The company intends to use the funds to further expand its product and sales teams, with the goal of implementing new features and bringing the platform to new enterprise brands.
ShiftOne is a mobile app that leverages real-time, individual performance data, typically from a point-of-sale system or guest review collector, to power competitions, encourage communication and recognition, and monitor operational health factors like attrition risk to reduce turnover and drive incremental revenue. It’s supplemented by automated, AI-driven analysis tools that equip leadership at every level with the knowledge and means to support and retain their teams-
The funding came after three quarters of product refinement during which the company released major enhancements to its platform; launched its new artificial intelligence-driven performance analysis and attrition risk assessment tool, Smart Alerts; and began development on a feature that will give operators the ability to create their own personalized competitions for staff that key automatically off of Point-of-Sale and Guest Satisfaction data.
FinSMEs
26/02/2019