Workforce management (WFM) company Legion Technologies announced it has raised $50 million in a growth funding round led by Riverwood Capital. There was also strategic participation from existing investors, including Norwest, Stripes, Webb Investment Network, and XYZ.
This funding round, which brought Legion’s total funding to $145 million, will boost its go-to-market and R&D initiatives to deliver an enhanced WFM experience to a growing global customer base. So it became the WFM platform for household names such as Rite Aid, Alo Yoga, and other leading brands and fast-growing chains.
Legion will use the funding to fuel continued innovations in workforce management, including deep investments in R&D and expansion of solutions like Legion’s InstantPay product. And with a focus on the intelligent automation of WFM, Legion will augment its industry-leading product with new features and updates to optimize labor operations, generate accurate staffing schedules, reduce time managers spend on administration, and ease compliance with labor laws worldwide.
This funding will also empower Legion to support its growing international customer base while also providing more significant proliferation across the markets it already serves.
This funding round also comes as Legion continues significant year-over-year growth studded with industry accolades, including award wins and high-profile partnerships. Over the last year, the company also announced a formal partnership with SAP that enabled seamless integration between SAP SuccessFactors and Legion’s platform and debuted over 140 new features, like the rollout of its new generative AI tool Legion Copilot – which was designed to boost employee productivity and learning.
Piper Sandler also served as Legion’s financial advisor, and Jefferies served as Riverwood’s financial advisor on this transaction.
KEY QUOTES:
“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. 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.”
– Sanish Mondkar, founder and CEO of Legion
“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. 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.”
– Francisco Alvarez-Demalde, Co-Founder and Managing Partner, Riverwood Capital
