On October 1, 2019, 7shifts raised an additional $7.9 million in growth equity financing, bringing the total capital raised for its Series A to more than $20 million. This latest financing was led by Napier Park Financial Partners, Relay Ventures and Conexus Credit Union. The funding comes nine months after the startup announced the close of its $13 million CAD ($10 million USD) Series A in January. The new capital will be used to help 7shifts continue to increase the size of its team and grow its presence in North America, as well as in the development of 7shifts’ partner integration network, which has recently added 10 new partners.
Napier Park Global Capital is a global alternative credit platform with approximately $12 billion in assets under management. The 100% employee controlled firm offers a broad range of investment products to select institutional investors.
7shifts is a Saskatoon-based restaurant labour management platform that uses AI to forecast staffing needs based on everything from historical sales to the weather. 7shifts has helped restaurant managers schedule, evaluate, and communicate with their workforce.
Osler, Hoskin & Harcourt LLP advised Napier Park Global Capital with a team led by Chad Bayne and consisting of Gary Marshall and Horatiu Porime (Emerging and High Growth Companies).