SwiftShift enables organisations with multiple locations to manage their workforce more effectively. The company has started in two sectors: retail and care homes. For retailers, being short staffed in store means losing sales. One large retailer with c 700 locations has estimated that each lost shift reduces sales in store by £130. Care homes cannot be short staffed and so rely on agency workers to fill shift gaps, and these agency staff are relatively expensive. The benefit sought by care homes is therefore to reduce their agency staffing bill.
Why we invested
We were really impressed with the SwiftShift management team. Founder & CEO Assaf Shalvi is an Israeli who has been working in the UK for the last six years. He is driven and articulate and a strong negotiator. His CTO is another very hard working Israeli based in London, and the Customer Development Director Derek Frer is an American based in London who has been selling HR Solutions.
The management team were extremely articulate about the sales proposition, the emotional reasons for purchase as well as the rational ROI argument.
The company was at the stage we like: Minimum Viable Product launched with some pilot customers who gave great references on the business and proposition.
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