Keeping track of your work is getting simpler to do on a smartphone, and a Minnesota start-up is taking new steps to make that happen.
When I Work, a St. Paul company with a fast-growing employee scheduling and time clock business, has raised another $5 million in venture capital and will acquire a smaller Canadian competitor, the firm said Monday.
By offering mobile-ready software that's easy to use in a field littered with unwieldy competitors, the company is carving out a huge chunk of business and revenue is growing at double-digit rates each month, Chief Executive Chad Halvorson said in an interview.
Formerly known as ThisClicks, the company already serves more than 10,000 businesses worldwide in 35,000 locations, including Tesla, Walgreens, Ace, Uber, Dunn Brothers, Ben & Jerry's and some divisions of Medtronic. That's up from 3,000 businesses just 18 months ago.
"It's really, really hard to build software in the workforce management space that isn't a nightmare to use and train," Halvorson said. "At the end of the day, it is just simplicity. This isn't just a product that one person uses at a business, it is something that the entire organization has to use and understand."
When I Work will acquire ShiftHub, a Toronto-based workforce management firm with a few hundred customers that Halvorson said offers one of the better solutions for businesses looking to modernize their timecard and scheduling software. Terms of the deal were not disclosed, but Halvorson said most of the new $5 million round of funding won't be needed for the deal, and his company will be on the lookout for other acquisition targets.
Wait for market to catch up
Halvorson, who grew up in Thief River Falls, Minn., the son of a railroad worker and a Digi-Key invoicer, first registered the WhenIWork.com domain in 1998 as a teenager, but shelved the idea in 2001 after concluding the market wasn't ready. He worked for about a decade in consulting, but when the iPhone was released he revived his old idea and relaunched the business in 2010 with a focus on the mobile app.
The company got to $1 million in annual revenue before even looking for venture capital funding.