Legion Technologies, an innovator in workforce management (WFM), announced it has raised $50 million in financing from Silicon Valley Bank (SVB), a division of First Citizens Bank. The funding, which brings Legion’s total funding to $195 million, follows a $50 million growth round led by Riverwood Capital earlier this year.
The funding comes on the heels of a notable year for Legion, which included achieving strong revenue growth, establishing a customer footprint in new regions, and significantly enhancing the Legion platform. This summer alone, the company launched 70 new product features, including:
1.) Employee Productivity-Based Scheduling enables managers to schedule their most productive employees at peak times automatically.
2.) Time and Attendance Workbench, a generative AI (GenAI) feature that simplifies time and pay processing for payroll administrators by improving overall ease of use.
3.) Enhanced Shift Offers make it quick and easy for hourly employees to find open shift offers that match their preferences and availability. Shift offers can be immediately sent to all eligible staff.
4.) Enhanced Schedule Score allows organizations to define schedule goals that align with their key business objectives, such as maintaining compliance, staying within budget, and addressing employees’ availability and skills.
5.) Increased Extensibility enables customers to create contextual metrics tailored to specific business needs, offering a more personalized and insightful user experience.
Legion also furthered the development of its Generative AI (GenAI) assistants – conversational agents helping users analyze schedules and timesheets, create and moderate newsfeed content within the Legion app, and customize their app experience to suit their needs. And when over half of managers feel they don’t have enough time to focus on the parts of their job that they enjoy, these AI assistants can reduce the time spent on administrative tasks and communications so they can focus on more fulfilling, success-driving tasks.
KEY QUOTES:
“From the beginning, Legion has been on a mission to improve hourly jobs and the capital we’ve received from investors this year demonstrates the enduring value of that mission. Our tremendous growth stems from the accelerating need for effective workforce management solutions, and this latest financing from SVB further proves that Legion’s intelligently automated, employee-centric platform is the best choice for today’s hourly employees.”
- Sanish Mondkar, founder and CEO of Legion Technologies
“There is increased demand for AI-native workforce management solutions that can improve both labor operations and the employee experience. Legion has successfully been working to transform the hourly work experience to meet the needs of the modern employee. With this latest financing, we are proud to support Legion as it enables intelligent automation to shape a new future of work.”
- Marisa Phan, Managing Director at Silicon Valley Bank
