Seattle — March 9, 2021 — Espresso Capital announced today that it has provided a credit facility to Shiftboard, a leading provider of enterprise workforce scheduling software. Shiftboard will use the capital to further strategic investments across the business, including investment in sales and marketing and enhancing key product features, both of which will accelerate growth.
“This strategic partnership with Espresso Capital will enable us to enhance our product offering to serve our customers’ evolving needs,” says Shiftboard President and CEO Sterling Wilson. “Delivering intelligent, highly configurable workforce scheduling capabilities to our customers is our top priority. Industries with continuous operations, like manufacturing, energy, healthcare, and public services, require innovative solutions to complex employee scheduling challenges. This funding allows us to continue delivering the most comprehensive scheduling solutions available, further cementing our position as the leading provider of workforce scheduling technology for mission-critical industries.”
“Shiftboard has been at the forefront of the workforce scheduling market for some time,” says Espresso Executive Director Steven Michau. “They’ve expanded their addressable market with purpose-built technology designed to tackle complex workforce scheduling more effectively. It’s a great company with terrific momentum, and we’re looking forward to supporting this next leg of the company’s growth.”
“Closing this deal with Espresso further confirms our conviction that Shiftboard is well-positioned to answer the market’s call for intelligent workforce scheduling solutions,” says Erik Benson, managing director at Voyager Capital, one of Shiftboard’s existing investors. “We are aligned in our visions for growth and proud to continue supporting Shiftboard’s great product and outstanding team.”
Explaining why Shiftboard chose Espresso Capital, Benson noted, “They offered the most workable solution hands down. Besides offering Shiftboard the liquidity they needed, Espresso provided flexibility and didn’t bury the process in unnecessary administrative overhead. They’ve been great to work with.”
About Shiftboard, Inc.
Shiftboard is a global, leading provider of workforce scheduling solutions for organizations with continuous and mission-critical operations. Backed by Shiftboard’s innovative technologies, organizations can optimize their workforce scheduling practice to lower labor costs, improve efficiency, comply with labor regulations, and create a better employee experience. To date, Shiftboard has supported over 265 million scheduled shifts for thousands of customers, including Fortune 500 companies, providing the employment pipeline for over $9 billion in wages earned. For more information, please visit shiftboard.com.
About Voyager Capital
Since 1997, Voyager Capital has focused on first-round venture investments to help entrepreneurs in the Pacific Northwest and California create winning businesses. Built on the team’s extensive experience with startups and its exceptional network across the industry, the firm’s entrepreneur-centric approach accelerates the pace at which companies can build, execute, pivot and scale. Voyager has $520M under management investing in B2B software, cloud infrastructure, and applications driven by AI and machine learning. With offices in Seattle, Wash., Portland, Ore., and Vancouver, BC, Voyager provides its portfolio the unwavering support and stage-appropriate connections needed to disrupt markets and create sustainable competitive advantage.
About Espresso Capital
Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 280 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.