Planday, a Denmark-based workforce management software producer backed by food retailer Metro, closed a €35m ($40.8m) series C round yesterday led by SEB Private Equity, a subsidiary of financial services firm SEB.
Several existing shareholders also supported the round, though only IdInvest Partners and Creandum were explicitly named.
Founded in 2004, Planday operates a flexible rota scheduling platform to manage shift work. The platform also allows employees to communicate and collaborate with each other even if they work different hours.
The money will support an accelerated expansion across Europe, including the launch of a UK-based technology development hub, and North America, and go towards further development of Planday’s platform.
Metro provided an undisclosed sum for Planday in June 2017, following a $14m series B round led by IdInvest in 2016 that included Creandum, SEB Private Equity and angel investor Arthur Kosten.
In 2015, angel investor Klaus Nyengaard supplied an undisclosed amount. Creandum had previously injected $3.8m in series A funding in 2014.