Workforce management (WFM) company Legion Technologies announced a $50 million growth round led by Riverwood Capital, with strategic participation from existing investors, including Norwest, Stripes, Webb Investment Network and XYZ.
The raise, which brings Legion’s total funding to $145 million, will boost its go-to-market and research and development (R&D) initiatives to deliver an enhanced WFM experience to a growing global customer base.
The global workforce management market is expected to reach $15.7 billion by 2031, indicating an increasing focus on workforce efficiency and engagement. As organizations aim to streamline operations and create a better experience for their hourly employees, Legion continues to aid in that effort. As a result, it has become the WFM platform of choice for household names like Rite Aid and Alo Yoga, among other leading brands and fast-growing chains.
“Legion was founded to turn hourly jobs into good jobs by simultaneously streamlining labor operations and improving the employee experience. This new capital not only reinforces the importance of our purpose but it validates our ability to bring that purpose to life,” said Sanish Mondkar, founder and CEO of Legion. “The intelligently automated, employee-centric nature of Legion’s solution has pushed us to the forefront of the industry, and, with the addition of this funding, we can further invest in creating a better experience for hourly employees on a global scale.”
“Legion’s modern and highly accurate automated workforce management solution enables large enterprises to streamline core processes and gain operating leverage while providing a superior experience to frontline workers,” said Francisco Alvarez-Demalde, co-founder and managing partner, Riverwood Capital. “Their pioneering approach powered by advanced labor forecasts has taken off at a time when all businesses are seeking to become more efficient and simultaneously improve the employee experience. We are excited to partner with Sanish and the exceptional Legion team, who are driving the next generation of workforce management forward.”
Legion will use the funds to fuel continued innovations in workforce management, including deep investments in R&D and expansion of solutions like Legion’s InstantPay product.
With an increased focus on the intelligent automation of WFM, Legion will augment its product with new features and updates to optimize labor operations, generate more accurate staffing schedules, reduce time spent by managers on administration and ease compliance with labor laws around the world.
This investment will also empower Legion to seamlessly support its growing international customer base while providing greater proliferation across the markets it already serves. Accelerating an already impressive growth track, the capital will augment Legion’s go-to-market initiatives, including the launch of its European GTM team, and bolster its U.S. operations with a deeper investment in sectors such as manufacturing and healthcare to accommodate the rising demand for its solution.
