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In today’s digital-driven world of retail, brick and mortar stores still continue to anchor customer interactions with a unique advantage of in-store experience. The level of experience, however, hinges on the efficiency of the sales associates inside the store. That said, the biggest challenge for retailers is to have the right people at the right time to achieve more conversions. “Retailers have historically been struggling to put an end to the high employee attrition rate because of poor workforce management,” explains Sanish Mondkar, CEO of Legion Technologies. “The retailers need a dynamic labor model that empowers their employees with schedule flexibility and includes digital tools to interact with managers.” In an effort to improve the experience of the hourly workers while driving business efficiency, Mondkar founded Legion Technologies to accurately forecast business demands and align the right employees with changing business opportunities, automatically.
A procurement and supply chain veteran, Mondkar observed how modern technologies brought transparency and thus, greater efficiency, into supply chain performance. He channelizes his vast experience into Legion Technologies to help retailers overcome the persistent workforce-related challenges niggling at their feet. The company offers Legion, a workforce engagement platform, which leverages artificial intelligence (AI) and machine learning to streamline, simplify, and manage the supply and demand of the labor supply chain in retail and quick service restaurants. It focuses on revealing the best options available to hourly workers that are most likely to lead them to fulfilling and long term employment. “Four things combine to create the optimal schedule in a matter of seconds—forecast, business policies, compliance laws, and work convenience,” explains Mondkar.
From a business perspective, Legion integrates into a business’ various data sources such as past sales, store traffic, seasonality, weather, events, POS systems, traffic counters, and other relevant demand drivers and examines the datasets to create a forecasting model automatically. The platform then displays an accurate and automated labor forecast over the next six weeks including peak hours and number of employees by role. Although Legion’s AI-based engine generates a perfect schedule by correlating the factors automatically, clients can incorporate any changes before publishing it.
On the employee side, Legion integrates into the organization’s HR application. Retailers can send new employees a direct download link to the Legion app, through which they can engage in discussions regarding work, shift timings, job location preference, and shift length. The platform also enables seamless offboarding—reducing the time and effort of manual onboarding/ offboarding process effectively.
Four things combine to create the optimal schedule in a matter of seconds—forecast, business policies, compliance laws, and work convenience
Legion is extremely pilot-friendly, and seamlessly integrates with any store. For instance, Philz Coffee, a quick serve restaurant with over 40 outlets across the U.S. has witnessed improved business results through a stable workforce. The client not only wanted to enhance employee experience but also forecast labor and improve business efficiency. Legion Technologies enabled Philz Coffee’s employees with the flexibility to choose shift length, preferred work location, and working hours directly through the Legion app. This ability has allowed the client to match the right person at the right time across all their locations— improving business outcomes as well as developing an incredible community-based work culture. Jacob Jaber, CEO of Philz Coffee acknowledges Legion’s role in allowing employees to create their work schedule while helping the business to best serve the community.
The retail industry represents a unique opportunity and data science problem statement from a forecasting standpoint, and we are focused on building forecasting capability with more detailed use cases. As of 2018, Legion Technologies plans to expand their forecasting capabilities into other verticals such as hospitality, healthcare, and online distribution centers.
Legion Secures $50m Growth Investment Led By Riverwood Capital To Accelerate Market Growth And Drive Global Hourly Workforce Innovation
Thursday, May 09, 2024
New funding will power Legion’s continued innovations in workforce management and accelerate global expansion
SANTA CLARA–Legion Technologies, announced a $50 million growth round led by Riverwood Capital with strategic participation from existing investors, including Norwest, Stripes, Webb Investment Network, and XYZ. The raise, which brings Legion’s total funding to $145 million, will boost its go-to-market and research and development (R&D) initiatives to deliver an enhanced WFM experience to a growing global customer base.
The global workforce management market is expected to reach $15.7 billion by 2031, indicating an increasing focus on workforce efficiency and engagement. As organizations aim to streamline operations and create a better experience for their hourly employees, Legion continues to modernize the industry, propelling it forward with its commitment to delivering intelligent, automated, and employee-centric products. As a result, it’s become the WFM platform of choice for household names like Rite Aid and Alo Yoga, among other leading brands and fast-growing chains.
“Legion was founded to turn hourly jobs into good jobs by simultaneously streamlining labor operations and improving the employee experience. This new capital not only reinforces the importance of our purpose but it validates our ability to bring that purpose to life,” said Sanish Mondkar, founder and CEO of Legion. “The intelligently automated, employee-centric nature of Legion’s solution has pushed us to the forefront of the industry, and, with the addition of this funding, we can further invest in creating a better experience for hourly employees on a global scale.”
“Legion’s modern and highly accurate automated workforce management solution enables large enterprises to streamline core processes and gain operating leverage while providing a superior experience to frontline workers,” said Francisco Alvarez-Demalde, Co-Founder and Managing Partner, Riverwood Capital. “Their pioneering approach powered by advanced labor forecasts has taken off at a time when all businesses are seeking to become more efficient and simultaneously improve the employee experience. We are excited to partner with Sanish and the exceptional Legion team, who are driving the next generation of workforce management forward.”
Legion will use the funds to fuel continued innovations in workforce management, including deep investments in R&D and expansion of solutions like Legion’s InstantPay product. With an increased focus on the intelligent automation of WFM, Legion will augment its industry-leading product with new features and updates to optimize labor operations, generate more accurate staffing schedules, reduce time spent by managers on administration, and ease compliance with labor laws around the world. Informed by market trends and ongoing feedback, these efforts will ensure the WFM platform significantly contributes to the employee experience, enabling greater flexibility while boosting productivity.
This investment will also empower Legion to seamlessly support its growing international customer base while providing greater proliferation across the markets it already serves. Accelerating an already tremendous growth track, the capital will augment Legion’s go-to-market initiatives, including the launch of its European GTM team, and bolster its U.S. operations with a deeper investment in sectors such as manufacturing and healthcare to accommodate the rising demand for its solution.
The raise comes as Legion continues significant year-over-year growth studded with industry accolades, including award wins and high-profile partnerships. Legion’s industry-leading WFM solution recently amassed recognition from the Global Excellence Award for Most Innovative Workforce Management Platform, the Business Intelligence Group’s Excellence in AI Awards, multiple Brandon Hall Technology Awards, and a Webby Award nomination in the AI, Metaverse & Virtual – Work & Productivity category. In the last year, the company also announced a formal partnership with SAP that enables seamless integration between SAP SuccessFactors and the Legion platform and debuted more than 140 new features – most notably, the rollout of its new generative AI tool, Legion Copilot, which is designed to boost employee productivity and learning.
Company
Legion Technologies
Management
Sanish Mondkar, Founder & CEO
Description
Offers a workforce engagement solution, built to help the retail industry build, connect, and engage network of employees while driving satisfaction and loyalty
