Dayforce's On-Demand Solution Offers Companies an Immediate Improvement in Operational Efficiency
MENLO PARK, CA and TORONTO, July 8 /CNW/ - Dayforce (www.dayforce.com), a leading provider of on-demand workforce management solutions, announced today that the company has raised $10 million lead by Bridgescale Partners. The investment will be made in two stages with the first stage of $5 million closing today and the remaining $5 million expected to close within the month. This brings the total investment to date in the company to over $20 million. As part of this investment, Howard Gwin and Rob Chaplinsky of Bridgescale Partners will join Dayforce's Board of Directors. The investment will provide the necessary resources for Dayforce to rapidly grow its user base of industry-leading organizations.
"Bridgescale Partners' investment is further validation of Dayforce's position as the industry leader in Workforce Management," said David Ossip, CEO and President of Dayforce. "Our solution gives every decision maker in an organization the insight to understand corporate goals, the confidence to measurably improve business performance, and the power to make their company more profitable."
"Dayforce has the first solution that I have seen that delivers the potential for full enterprise user adoption - the 'holy grail' for getting value from a SaaS product. With Dayforce, workforce management moves from something I have to do to something that I want to do - and this makes the offering truly disruptive," said Howard Gwin, Partner of Bridgescale and former EVP, Worldwide Operations at PeopleSoft. "Additionally, as a three-time repeat successful entrepreneur, David Ossip's exceptional track record of building and leading high-growth companies was a strong factor in our investment decision," Gwin added.
Dayforce bridges the real-world gap between workforce performance and enterprise performance. The solution helps organizations plan, deploy and track their workforce to corporate goals in a single application.
Dayforce's proprietary technology allows the solution to meet the needs of organizations of all sizes, resulting in long-term, sustainable growth in a previously underserved market. Dayforce has significant built-in functionality, works on any PC, and requires far less implementation services than competitors' products to get up and running. Dayforce also integrates seamlessly with third-party systems with minimal effort and eliminates many of the headaches of traditional on-premise deployment.
Dayforce offers a complete workforce management solution with functionality that includes time and attendance, labor scheduling, labor forecasting, labor budgeting, labor analytics, task management, human resources and employee self-service. The company has set itself apart from competitors with its vastly superior user experience, much faster application, and by providing significantly greater business value. For more information, please visit www.dayforce.com.
About Bridgescale Partners
Bridgescale Partners is a Menlo Park, California based growth equity firm providing expansion capital to U.S. and Canada-based, later-stage technology companies. The investment team has more than 50+ years of venture capital experience investing in early- and later-stage technology companies. Additionally, the team has invested in more than 100 technology companies in the software, security, digital media, Internet, and communication markets. For more information, please visit www.bridgescale.com.
SOURCE BRIDGESCALE PARTNERS
For further information: For further information: MEDIA CONTACTS: Lisa Tarter, TidalWave PR for Bridgescale Partners, Phone: 415 203 2462, Email: Lisa@tidalwavepr.com; Warren Perlman, Dayforce, Phone: 416 987 2987 x 2212, Email: firstname.lastname@example.org