CPE News Brief (10.20.2022) – Voilà! has raised US $10M Series A from Walter Ventures, Investissement Québec (IQ), Desjardins Capital, Telegraph Hill Capital, Panache Ventures, Fondaction, Investissements Norco, and Azure Capital.
The financing closed in September. Dominic Asselin of Investissement Québec has joined Voilà! board of directors.
Founded by Martin Ouellet, Québec City based Voilà! is an all-in-one employee scheduling and workforce management platform (for web/ mobile).
In 2019, Investissement Québec led a $3 million round of financing in Voilà! and was joined by Panache Ventures, Telegraph Hill Capital, and private investors.
photo credit: Voilà!
Workforce Management Platform Voilà! Raises $13 Million Series A To Help Combat Labor Shortage
The all-in-one workforce management platform offers tools to bring flexibility into the workplace
October 20, 2022 01:55 PM Eastern Daylight Time
QUEBEC–(BUSINESS WIRE)–Cloud platform Voilà! announces the closing of its $13.75M CAD Series A funding round, led by Walter Ventures, with participation from Desjardins Capital and Investissement Quebec. This funding round will allow the company to further its mission to help businesses combat labor shortages.
Released in 2016, Voilà! delivers workforce optimization tools to simplify schedule management, staff replacements, as well as time and attendance tracking. The platform also leverages increased workforce mobility to enable managers to fill as many work shifts as possible.
“This funding will allow us to accelerate the company’s growth in the United States and Canada. We are very grateful for the continued support of recognized local institutions Desjardins Capital and Investissement Québec, who have believed in our company mission,” said Martin Ouellet, founder and Chief Executive Officer of Voilà!.
“We expect to create more than 50 additional jobs in software and business development within the next two years— in fact, we’re looking to fill at least 20 positions as of today,” continues the entrepreneur.
Despite the current economic conditions, Voilà! has been able to maintain an annual growth rate of more than 300% by supporting clients such as Cook it, a meal kit pioneer, various players in the Quebec health network and SPAR Inc., a global company serving the largest retailers and consumer product companies around the world.
“We are thrilled to partner with Voilà! and support a seasoned team that has optimized the deployment and automation of workforce management in complex industries and plans to continue to innovate to shape the future of workforce management,” remarked Isabelle Somers, Managing Director at Walter Ventures.
The labor shortage is hitting hard around the world as there are more than 10 million job openings in the U.S.—but only about 6 million unemployed workers to fill them, according to the U.S. Chamber of Commerce. Canadian companies already see labor shortage as the second most difficult issue to overcome as per the Canadian Federation of Independent Business latest report. .
Walter Ventures, Desjardins Capital and Investissement Quebec were joined by Telegraph Hill Capital, Panache Ventures, Fondaction, Investissements Norco, and the American firm Azure Capital in this funding round.
First partnership in the entertainment industry
In the first step towards its mission, Voilà! has joined forces with Connect&GO, a Montreal-based company that provides ticketing, access control and operations management solutions for the attractions and leisure industry. The two companies will be unveiling a new dynamic workforce management initiative based on attendance at the IAAPA Expo in Orlando in November.
Founded in 2016, Voilà! is a SaaS platform that helps flex-time businesses adapt their workforce management to the new realities of the workplace. The platform allows managers to maximize their use of employee availability and optimize the cost of their workforce with solutions for managing schedules, time and attendance, leave and more. The platform stands out for its flexibility, which allows it to be adapted to various corporate structures, business rules and collective agreements without compromising its user-friendliness for employees.
About Walter Ventures
Walter Ventures is a multi-pronged early-stage investment platform of impact-driven venture investments with exceptional entrepreneurs. Walter Ventures focuses on early-stage companies specializing in software centric B2B business models, led by talented entrepreneurs who want to become the next leaders in their industry.
About Desjardins Capital
Nearly 50 years strong, Desjardins Capital has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2.9 billion as of June 30, 2022, Desjardins Capital helps contribute to the longevity of more than 750 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping to maintain and create many thousands of jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth. For more information, visit our website.
About Investissement Québec
Investissement Québec’s mission is to play an active role in Québec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from its CRIQ business unit. In addition, through Investissement Québec International, the Corporation also prospects for foreign investment and assists businesses with export activities.