7shifts

7shifts

Workforce management platform for restaurants

About 7shifts

Simplify's Rating
Why 7shifts is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Consulting

Enterprise Software

Company Size

201-500

Company Stage

Series C

Total Funding

$127.4M

Headquarters

Regina, Canada

Founded

2014

Overview

7shifts provides a workforce management platform tailored for the restaurant industry. The platform includes tools for scheduling, payroll, tip management, hiring, and onboarding, allowing restaurant owners to manage their workforce efficiently. Users can post job ads, track applications, and handle tax documentation all in one place. 7shifts operates on a subscription model, where clients pay a recurring fee for access to its features. The platform also offers tools for labor law compliance, budget tracking, and staff engagement monitoring, which help restaurants run smoothly and reduce employee turnover. With AI integrations for auto-scheduling and actionable insights on shift performance and attendance, 7shifts enables restaurant owners to make informed operational decisions. The goal of 7shifts is to enhance operational efficiency in restaurants, improve guest experiences, and foster team retention.

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Simplify's Take

What believers are saying

  • 7shifts ranked 382 on the 2024 Deloitte Technology Fast 500, showing strong growth.
  • Partnership with Lightspeed enhances 7shifts' integration capabilities and market reach.
  • Instant tip payouts feature meets high demand, boosting employee satisfaction and retention.

What critics are saying

  • Recent layoffs may impact 7shifts' operational capabilities and service quality.
  • Increased competition from Square's integrations could affect 7shifts' market share.
  • Dependency on Lightspeed's ecosystem may limit strategic flexibility for 7shifts.

What makes 7shifts unique

  • 7shifts offers a comprehensive platform tailored specifically for the restaurant industry.
  • The platform integrates scheduling, payroll, and compliance tools in one seamless solution.
  • AI-driven auto-scheduling enhances operational efficiency and decision-making for restaurant managers.

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Funding

Total Funding

$127.4M

Above

Industry Average

Funded Over

5 Rounds

Notable Investors:
Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$80M
7shifts
$100M
Oura

Benefits

Health Insurance

Company Equity

Flexible Work Hours

Remote Work Options

Parental Leave

Home Office Stipend

Professional Development Budget

Growth & Insights and Company News

Headcount

6 month growth

3%

1 year growth

0%

2 year growth

5%
PR Newswire
Nov 26th, 2024
7Shifts Announces 382 Ranking As A Fastest-Growing Company In North America On The 2024 Deloitte Technology Fast 500™

Company Credits 286% Revenue Growth to its Comprehensive Platform Unrelenting Dedication to Empowering Restaurant Success. TORONTO, Nov. 26, 2024 /PRNewswire/ -- 7shifts, the all-in-one team management app for restaurant operators, today announced it has ranked number 382 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. This is the fifth consecutive year that 7shifts has appeared on the prestigious list, its 286% growth over the last three years reinforces its position as a leader in the restaurant technology industry. "We've grown so much over the 10 years we've been in business that it is really rewarding to be part of this distinguished group of companies once again," said Jordan Boesch, CEO at 7shifts. "We are proud to have paid out more than $190 million in wages to more than 13,000 hospitality workers across the USA

Street Insider
Nov 26th, 2024
7shifts Announces 382 Ranking as a Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500(TM)

7shifts announces 382 ranking as a fastest-growing company in North America on the 2024 Deloitte Technology Fast 500(TM).

Investors Hangout
Oct 10th, 2024
Transforming Restaurant Operations: Lightspeed and 7shifts Join Forces

In an exciting development for the restaurant industry, Lightspeed Commerce Inc. has expanded its partnership with 7shifts, a leader in workforce management for restaurants.

Bay Street
Oct 10th, 2024
Lightspeed Commerce Inc.

12:37 PM EST - Lightspeed Commerce Inc.: Announced a significant enhancement to its existing integration with 7shifts, the all-in-one team management app for restaurant operators.

PYMNTS
May 14th, 2024
Square Adds 5 New Integrated Solutions For Restaurants

Square has formed several new integrations and partnerships with organizations serving food and beverage (F&B) companies.The provider of commerce solutions also said that 45% of F&B sellers adopt a third-party solution within their first year of using Square, according to a Tuesday (May 14) press release.“Restaurants today rely on a variety of tools and services to drive operational efficiency, manage labor costsand find new avenues for growth in an increasingly competitive and challenging landscape,” Ming-Tai Huh, head of food and beverage at Square, said in the release.To help these businesses find and use integrated solutions, Square launched its App Marketplace a decade ago, according to the release.Some of the latest partner integrations now available to F&B businesses are SevenRooms, which allows restaurants to see reservations and customer insights on their point of sale (POS) system; Restaurant365, which helps restaurants manage their accounting, workforce and store operations; 7shifts, which gives operators access to restaurant performance data in real time; Popmenu, which helps restaurants grow their digital presence; and Olo, which lets operators view orders from all their digital channels in one place.Square has also formed industry partnerships with food service distributor Performance Foodservice and three restaurant associations — the Illinois Restaurant Association, the California Restaurant Association and the New York State Restaurant Association — to better serve F&B businesses with its solutions.In addition, Square has rolled out a new machine learning (ML)-powered recommendation engine for partner integrations. This tool provides personalized, timely recommendations to sellers.“The value of ensuring food and beverage businesses can seamlessly build the technology stacks that best fit their operations is evident in the engagement and growth we’re seeing, and Square is committed to providing sellers with best-in-class integrations that help them more easily navigate the complexities of running and growing their business,” Huh said in the release.PYMNTS Intelligence has found that technology is now a critical part of the restaurant experience, helping these businesses streamline business operations and meet consumers’ growing appetite for seamless experiences.Restaurants are increasing their digital engagement capabilities, and consumers are eagerly embracing this, according to “Inflation Puts Technology on the Menu for Restaurants,” a PYMNTS Intelligence and American Express collaboration

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