Quinyx Revenue, Valuation, Funding & Investors
Quinyx is valued at $133M as of January 2019, a 4.6x multiple on its last reported $29M revenue.
Last Quinyx valuation
$133M
Undisclosed stage · Jan 2019
Last Quinyx funding round
Undisclosed stage
Amount undisclosed · Nov 2023
Quinyx revenue
$29M
Undisclosed stage · Jan 2019
Key investors in Quinyx
Battery Ventures
Alfvén & Didrikson
Zobito
Idekapital
Maropost Ventures
About Quinyx
Quinyx is a Stockholm-based workforce management software provider dominant in Scandinavia. Its cloud platform handles scheduling, time reporting, task allocation, budgeting, and forecasting for labor-intensive industries like retail and hospitality.
Founded
2005
HQ
StockholmWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$29M (Jan 2019)
Valuation
$133M (Jan 2019)
Quinyx Valuation
Quinyx is currently valued at $133M, based on its undisclosed-stage round in January 2019.
The $25M round was led by Alfvén & Didrikson and Battery Ventures, with participation from Zobito.
Quinyx valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2019 | Undisclosed stage | $133M | 4.6x |
Quinyx Revenue
Quinyx's latest recorded revenue is $29M, as of its undisclosed-stage round in January 2019. At a $133M valuation, that implies a 4.6x revenue multiple.
Quinyx revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2019 | $29M | $133M | 4.6x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Quinyx Funding History
Quinyx has raised a total of $103M across 6 funding rounds.
Quinyx's first fundraising round was a $14M Series A in August 2014. The most recent completed round was a undisclosed-stage round in November 2023.
Quinyx funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2023 | Undisclosed stage | Idekapital | - | - | Idekapital took a minority position in Swedish workforce management software company Quinyx in November 2023, the fund's first investment in a company based outside Norway. Quinyx sells AI-driven scheduling, time and attendance and forecasting software to large shift-based employers such as McDonald's, Starbucks and DHL. Idekapital joined a shareholder register that already included Battery Ventures, Alfven & Didrikson and Zobito; terms were not disclosed. |
| Nov 2021 | Undisclosed stage | Battery Ventures (lead); Maropost Ventures | $50M | - | Quinyx AB is a Stockholm-based provider of AI-powered workforce management (WFM) software that automates, optimizes, and streamlines labor processes for hourly workforce businesses, including scheduling, communication, task management, and payroll integration. The platform serves global customers such as McDonald’s, Sysco, Domino’s, Maersk, IHG, and DHL, helping improve productivity and employee experience amid labor shortages. On November 30, 2021, Quinyx raised $50 million in a Series C funding round led by Battery Ventures, with participation from Alfvén & Didrikson Invest AB and Zobito AB. The funding aims to expand Quinyx's US presence, pursue acquisitions, and enhance intelligence features in its core product. Battery Ventures General Partner Michael Brown, who led the investment, highlighted Quinyx's strong growth and potential to help employers in retail, supply chain, and hospitality manage their workforce more effectively. Michael Brown joined Quinyx's board as part of the deal. The company had demonstrated significant growth in the prior year, reflecting demand for WFM solutions. Quinyx is positioned in the growing human-resources technology sector, with prior investments from the same backers including a $12 million round from Battery Ventures in 2017 and others in 2019. Battery Ventures, a global firm founded in 1983, focuses on software and technology companies across stages from seed to buyout. |
| Jan 2019 | Undisclosed stage | Alfvén & Didrikson (lead); Battery Ventures (lead); Zobito | $25M | $133M | Quinyx is a cloud-based, mobile-first workforce management software provider serving service industries with offices in multiple countries including Sweden, UK, US, and others. The company raised funding across six rounds totaling $100.45M as of the latest data. Post-money valuation stood at $132.64M. Financial traction around the round included FY 2018 revenue of $15.23M, with a noted 4.58x multiple tied to that figure and the valuation. The company has expanded leadership with appointments like Chief Revenue Officer in recent years and acquired Concrete in 2022 to bolster retail capabilities. Competitive context positions Quinyx in the AI-driven workforce management space, focusing on scheduling and employee engagement for industries like retail and services. Investor count reached 4 by later stages, with prior rounds including Series B in 2017 and earlier Series A stages from 2014-2015. |
| Dec 2017 | Series A | Battery Ventures (lead) | $12M | - | Quinyx is a Stockholm-based SaaS provider of cloud-based workforce management software that automates employee scheduling, communication, task management, payroll integration, time punching, and forecasting. Founded in 2005 by CEO Erik Fjellborg, the company serves over 275,000 users across 500+ customers in 20 countries, including Papa John’s, Rituals Cosmetics, London City Airport, DHL, Humana, Debenhams, McDonald’s Sweden, Gant, and others. It operates offices in Stockholm, Copenhagen, Helsinki, Oslo, and London. On December 18, 2017, Quinyx secured a $12 million investment led by Battery Ventures through a mix of secondary share purchase and fresh capital. Battery General Partner Michael Brown joined the board, and Vice President Paul Morrissey worked closely with the company to support international expansion into new geographies and verticals. Prior to this round, Quinyx had raised about $14 million from investors including Alfvén & Didrikson and Zobito. In 2016, the company reported SEK 96.5 million ($11.5 million USD) in sales while posting SEK 32 million ($3.8 million USD) in losses, indicating it was still pursuing profitability amid rapid growth. |
| Nov 2015 | Seed | Zobito (lead); Alfvén & Didrikson | $2M | - | - |
| Aug 2014 | Series A | Alfvén & Didrikson (lead) | $14M | - | Quinyx is a cloud-based workforce management software company headquartered in Stockholm, founded in 2005. The platform provides employee scheduling, communication, task management, and payroll integration tools for businesses across retail, hospitality, food service, and logistics sectors. The company counted major clients including Burger King, Subway, FedEx, Decathlon, Santander Bank, and Compass Group. In August 2014, Quinyx raised $14 million in funding led by Alfvén & Didrikson, with participation from angel investor Magnus Sandberg, a former Google engineer. The company reported $7 million in revenue for 2014. This round added to the $1.5 million previously raised by the company. |
Who has invested in Quinyx?
5 investors have backed Quinyx across its funding rounds, including Battery Ventures, Alfvén & Didrikson, Zobito, Idekapital and Maropost Ventures.
Lead investors include Battery Ventures, Alfvén & Didrikson and Zobito.
Quinyx Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Stockholm | 3 | Lead | Aug 2014 | |
 Boston, MA | 3 | Lead | Dec 2017 | |
| Malmö | 2 | Lead | Nov 2015 | |
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Start Free TrialAcquisitions by Quinyx
Quinyx has acquired 2 companies to date.
Last acquisition by Quinyx was on April 12th 2022. Quinyx acquired Concrete for $29M.
Latest Acquisitions by Quinyx
| Description | Concrete is a London- and New York-headquartered SaaS platform for retail staff training and engagement. Used by brands like L'Oreal, Williams Sonoma, Kate Spade, Coach, J.Crew, and Tesco, it delivers personalized modules on customer service, product knowledge, and sales techniques via mobile app. The system tracks completion rates and performance metrics to boost in-store experiences. | Widget Brain is a UK company specializing in AI platforms for workforce optimization and predictive maintenance. Its software analyzes sensor data from industrial equipment to forecast failures and schedule maintenance. Widget Brain optimizes shift planning and skill matching in manufacturing and logistics. Headquartered in London, it deploys on edge devices for real-time insights. |
| HQ Country |  |  |
| HQ City | London | Rotterdam |
| Deal Date | 12 Apr 2022 | 21 Oct 2020 |
| Valuation | $29M | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Quinyx acquisitions and their M&A valuation multiples. Start Free Trial | ||
Quinyx Competitors
Quinyx competitors include listed companies like OpenWork and TON Strategy, and private ones like Worksome, Wilya, Everstage and Ontop.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Copenhagen | Private | $106M | - | $139M | 1.3x | |
| Harrisburg, PA | Private | - | - | $144M | - | |
 Japan | Publicly listed | $30M | $8M | $122M | 2.4x | |
| New York City, NY | Private | - | - | $150M | - | |
| Miami, FL | Private | $10M | - | $150M | 15.0x | |
| United States | Publicly listed | $13M | ($148M) | $170M | 11.0x |
Quinyx Public Comps
Quinyx is still privately-owned, but its public comps include ReadyTech, OpenWork, Humanica, Human Technologies, TON Strategy, DHI Group, Kinatico, Asure Software, PaySauce and Safeture.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $89M | $20M | 1.7x | 1.7x | 7.8x | 5.9x | |||
| $30M | $8M | 2.4x | 2.4x | 9.2x | - | |||
| $46M | $17M | 2.2x | 2.0x | 5.9x | 5.8x | |||
| $48M | $10M | 1.4x | 1.3x | 7.0x | - | |||
| $13M | ($148M) | 11.0x | 11.0x | (1.0x) | - | |||
| $128M | $2M | 2.0x | 2.0x | 108.0x | 7.8x | |||
| $25M | $4M | 1.5x | 1.4x | 9.3x | 8.4x | |||
| $141M | $20M | 2.1x | 1.9x | 15.2x | 8.0x | |||
This data is available for Pro users. Sign up to see all Quinyx competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Quinyx
| When was Quinyx founded? | Quinyx was founded in 2005. |
| Where is Quinyx headquartered? | Quinyx is headquartered in Stockholm, Sweden. |
| Is Quinyx publicly listed? | No, Quinyx is a private, VC-backed company. |
| What is Quinyx's valuation? | Quinyx was last valued at $133M in its undisclosed-stage round in January 2019. |
| How much funding has Quinyx raised? | Quinyx has raised $103M across 6 funding rounds. |
| What was Quinyx's last funding round? | Quinyx's last funding round was a undisclosed-stage round in November 2023. |
| Who are Quinyx's investors? | Quinyx's investors include Alfvén & Didrikson, Battery Ventures, Zobito, Maropost Ventures and Idekapital. |
| What is Quinyx's revenue? | Quinyx's latest recorded revenue is $29M (January 2019). |
| What is Quinyx's revenue multiple? | Quinyx's latest valuation implies a 4.6x revenue multiple ($133M valuation on $29M of revenue). |
| Which companies are comparable to Quinyx? | Companies comparable to Quinyx include Worksome, Wilya, OpenWork, Everstage, Ontop and TON Strategy. |
| How many companies has Quinyx acquired? | Quinyx has acquired 2 companies, including Concrete and Widget Brain. |
| What was the largest acquisition by Quinyx? | The $29M acquisition of Concrete in April 2022 is the largest acquisition Quinyx has made to date. |
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