May 27, 2021 at 12:19 PM
HOBOKEN, NJ - 7shifts, an innovative labor management platform for restaurants, has announced that it raised $21.5 million in Series B funding led by Enlightened Hospitality Investments (EHI), the growth equity fund affiliated with Union Square Hospitality Group (USHG).
Founded by restaurateur and industry visionary Danny Meyer in 1985, USHG operates some of New York City’s most beloved restaurants including Gramercy Tavern and Union Square Cafe. EHI was formed in 2016 to make strategic investments in best-in-class companies that have excellent management teams and corporate cultures. EHI’s investment follows a very successful implementation of 7shifts across USHG’s portfolio of cafes, bars and restaurants and will add EHI to 7shifts’ Board of Directors. The round also includes participation from existing investors Ten Coves Capital, Relay Ventures, and Conexus Venture Capital.
7shifts, a Saskatoon, Canada-based labor management platform for restaurants, raised $21.5m in Series B funding.
The round was led by Enlightened Hospitality Investments (EHI), the growth equity fund affiliated with Union Square Hospitality Group (USHG), with participation from existing investors Ten Coves Capital, Relay Ventures, and Conexus Venture Capital.
The company intends to use the funds to continue scaling its team and expand its product offering, including deepening its capabilities in the core areas of scheduling and employee communication, accelerating technology integrations to provide a more holistic view of one’s business, and rolling out the next generation of tools purpose-built for restaurateurs and their teams.
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Restaurants are scrambling to hire thousands of workers to fill shifts.
Danny Meyer is tackling the crisis differently by investing in labor retention tool, 7shifts. Retention is truly the name of the game, Meyer told Insider.
The restaurant industry is scrambling to find servers, cooks, and fast food cashiers to keep doors open as capacity restrictions lift across the US. But restaurant mogul Danny Meyer is taking a different approach to the crisis – retention. He s using tech from 7shifts to help keep the right people working for him at his New York-based restaurant group Union Square Hospitality. And he s betting more restaurant operators will want to use the restaurant management software.
Labor management platform 7shifts to expand with $21.5 million investment from Danny Meyer’s Enlightened Hospitality Investments Move comes as an explosion of growth and hiring is expected across the restaurant industry in coming months
New York City restaurateur Danny Meyer’s growth equity fund has led a $21.5 million investment in the labor management platform 7shifts, the company said Tuesday.
Enlightened Hospitality Investments, or EHI, the growth equity fund affiliated with Meyer’s Union Square Hospitality Group, or USHG, was joined in the Series B funding round by existing investors Ten Coves Capital, Relay Ventures and Conexus Venture Capital.
For Meyer, whose USHG operates famed concepts such as Gramercy Tavern and Union Square Café, it follows a growing list of investments in technology and other companies that have become key to restaurant operations. The fund, for example, has invested in the ecommerce business Goldbelly, website designer BentoBox, reserva