Quinyx secures $12M to further grow its SaaS workforce management solution in an investment deal led by Battery Ventures.

Quinyx, a Stockholm, Sweden-based company providing a SAAS cloud-based software for management of employee scheduling, communication, task-management and payroll integration, announced a $12 million capital infusion.

The money comes from US-based VC firm Battery Ventures, in a deal which sees Boston-based Battery General Partner Michael Brown join the Quinyx board. The transaction is made through a secondary share purchase as well as bringing fresh capital on the company.

Quinyx, founded in 2005 by CEO Erik Fjellborg, has developed a cloud-based, workforce-management solution that helps reduce workforce-related costs by automating labour-intensive processes like scheduling, payroll, time punching, communication and forecasting—all while creating a smiling workforce.

The company, with offices in Stockholm, Copenhagen, Helsinki, Oslo and London, has about 275,000 users and works with 500+ customers from 20 countries, including Papa John’s, Rituals Cosmetics, London City Airport DHL, Humana, Debenhams.

Quinyx is still looking for profitability, as the Swedish-registered organisation had SEK 96.5M ($11.5M) in sales and SEK 32M ($3.8M) in losses in 2016.

Quinyx has raised about $14M in funding and is backed by local investment companies Alfvén & Didrikson and Zobito.