Legion Technologies has announced a major acquisition of $50 million in financing from Silicon Valley Bank, a division of First Citizens Bank, to drive further innovation in their AI-powered workforce management solutions. This latest funding elevates the total amount raised by the company in 2024 to an impressive $100 million, doubling their cumulative funding to $195 million. Earlier this year, Legion had already secured $50 million in a growth round led by Riverwood Capital.
Founded by Sanish Mondkar, Legion Technologies is centered around enhancing the experience of hourly workers through intelligently automated, employee-centric platforms. The company’s continuous investor support and commitment to improving hourly jobs underscore the pressing need for effective workforce management solutions—an area where Legion has shown notable growth and innovation.
The 2024 fiscal year has been transformative for Legion, marked by significant revenue growth, an expanded customer footprint in new regions, and numerous updates to its platform. Recently, the company introduced 70 new product features designed to streamline workforce management for both employees and administrators. Among these features are Employee Productivity-Based Scheduling, which allows managers to automatically schedule the most productive employees during peak times, and the Time and Attendance Workbench, a generative AI tool that simplifies time and pay processing for payroll administrators.
Enhanced Shift Offers enable hourly employees to quickly find and accept open shifts that align with their preferences and availability. Another key feature, Enhanced Schedule Score, assists organizations in defining scheduling goals to align with business objectives like compliance, budgeting, and employee skills. Additionally, increased extensibility allows customers to create specific metrics tailored to their unique business needs, providing a personalized user experience.
Marisa Phan, Managing Director at Silicon Valley Bank, highlighted the growing demand for AI-native workforce management solutions that improve labor operations and enhance the employee experience. The financing from SVB underscores their confidence in Legion’s capability to transform hourly work through intelligent automation.
Furthermore, Legion has been making strides in developing Generative AI assistants, intended to reduce managerial administrative burdens by analyzing schedules and timesheets, creating and moderating newsfeed content, and customizing the app experience. By reducing the time managers spend on these tasks, they can focus more on strategic responsibilities that fulfill their job roles.
Legion’s remarkable growth has earned it consistent recognition, featuring in the Inc. 5000 and Deloitte Fast 500 rankings as one of the fastest-growing companies in America. With an average growth rate of 374% over the past three years, Legion is well-positioned for another year of accelerated progress and continued innovation in workforce management.
In summary, Legion Technologies’ substantial new funding and comprehensive product enhancements underscore its leading position in the workforce management sector. These advanced, AI-powered tools are likely to continue to attract both customers and investor interest, solidifying its reputation as a firm that significantly improves the hourly work experience. By focusing on reducing administrative tasks for managers through automation, the company is set to remain a key player in shaping the future of workforce management.