in Canada, Ontario, Toronto, Venture Capital |

Dayforce secures an additional $10million

VentureBeat is reporting that Dayforce has secured an additional $10million in financing, bringing their total pool of raise capital to $20million.

This isn’t a major surprise for anyone who has been watching David Ossip over the last 3 years. After selling Workbrain for $227million in 2007, David only seemed to get more ambitious. Perhaps the acquisition left him with just enough of a taste to want more, or perhaps he felt like he didn’t get the job done with Workbrain. Either way, after sitting around waiting for his non-compete to expire, he got back in the game with Dayforce. So here we are.

David is the entrepreneur’s entrepreneur, and I am happy to see that he is able to get the resource together to build Dayforce in Canada. His desire to contribute back to the startup community has set him apart in recent years. We have previously published a profile of Workbrain spinoff companies. This also represents a significant additional step for Bridgescale Partners, and represents their first deal in Canada since their merger with Edgestone in May. Edgestone was one of the original investors in Workbrain up until it went public in 2003.

We will add more details as we get them.

co-founder of Startupnorth.ca

Published

  1. Bridgescale has a release at http://bridgescale.com/news/recent/54

    uly 8, 2010
    Bridgescale Partners Invests in Workforce Management Company Dayforce
    Dayforce’s On-Demand Solution Offers Companies an Immediate Improvement in Operational Efficiency
    Menlo Park, CA – July 8, 2010 –
    Dayforce (http://www.dayforce.com), a leading provider of on-demand workforce management solutions, announced today that the company has raised $10m lead by Bridgescale Partners. The investment will be made in two stages with the first stage of $5m closing today and the remaining $5m expected to close within the month. This brings the total investment to date in the company to over $20m. As part of this investment, Howard Gwin and Rob Chaplinsky of Bridgescale Partners will join Dayforce’s Board of Directors. The investment will provide the necessary resources for Dayforce to rapidly grow its user base of industry-leading organizations.

    “Bridgescale Partners’ investment is further validation of Dayforce’s position as the industry leader in Workforce Management,” said David Ossip, CEO and President of Dayforce. “Our solution gives every decision maker in an organization the insight to understand corporate goals, the confidence to measurably improve business performance, and the power to make their company more profitable.”

    “Dayforce has the first solution that I have seen that delivers the potential for full enterprise user adoption – the ‘holy grail’ for getting value from a SaaS product. With Dayforce, workforce management moves from something I have to do to something that I want to do – and this makes the offering truly disruptive,” said Howard Gwin, Partner of Bridgescale and former EVP, Worldwide Operations at PeopleSoft. “Additionally, as a three-time repeat successful entrepreneur, David Ossip’s exceptional track record of building and leading high-growth companies was a strong factor in our investment decision,” Gwin added.

    Dayforce bridges the real-world gap between workforce performance and enterprise performance. The solution helps organizations plan, deploy and track their workforce to corporate goals in a single application.

    Dayforce’s proprietary technology allows the solution to meet the needs of organizations of all sizes, resulting in long-term, sustainable growth in a previously underserved market. Dayforce has significant built-in functionality, works on any PC, and requires far less implementation services than competitors’ products to get up and running. Dayforce also integrates seamlessly with third-party systems with minimal effort and eliminates many of the headaches of traditional on-premise deployment.

    About Dayforce Dayforce offers a complete workforce management solution with functionality that includes time and attendance, labor scheduling, labor forecasting, labor budgeting, labor analytics, task management, human resources and employee self-service. The company has set itself apart from competitors with its vastly superior user experience, much faster application, and by providing significantly greater business value. For more information, please visit http://www.dayforce.com.

    About Bridgescale Partners Bridgescale Partners is a Menlo Park, California based growth equity firm providing expansion capital to U.S. and Canada-based, later-stage technology companies. The investment team has more than 50+ years of venture capital experience investing in early- and later-stage technology companies. Additionally, the team has invested in more than 100 technology companies in the software, security, digital media, Internet, and communication markets. For more information, please visit http://www.bridgescale.com.

    ###

    MEDIA CONTACTS:
    Lisa Tarter
    TidalWave PR for Bridgescale Partners
    Phone: 415 203 2462
    Email: Lisa@tidalwavepr.com

    Warren Perlman
    Dayforce
    Phone: 416 987 2987 x 2212
    Email: wperlman@dayforce.com

  3. Bridgescale has a release at http://bridgescale.com/news/recent/54

    July 8, 2010Bridgescale Partners Invests in Workforce Management Company DayforceDayforce’s On-Demand Solution Offers Companies an Immediate Improvement in Operational EfficiencyMenlo Park, CA – July 8, 2010 -Dayforce (http://www.dayforce.com), a leading provider of on-demand workforce management solutions, announced today that the company has raised $10m lead by Bridgescale Partners. The investment will be made in two stages with the first stage of $5m closing today and the remaining $5m expected to close within the month. This brings the total investment to date in the company to over $20m. As part of this investment, Howard Gwin and Rob Chaplinsky of Bridgescale Partners will join Dayforce’s Board of Directors. The investment will provide the necessary resources for Dayforce to rapidly grow its user base of industry-leading organizations. “Bridgescale Partners’ investment is further validation of Dayforce’s position as the industry leader in Workforce Management,” said David Ossip, CEO and President of Dayforce. “Our solution gives every decision maker in an organization the insight to understand corporate goals, the confidence to measurably improve business performance, and the power to make their company more profitable.”“Dayforce has the first solution that I have seen that delivers the potential for full enterprise user adoption – the ‘holy grail’ for getting value from a SaaS product. With Dayforce, workforce management moves from something I have to do to something that I want to do – and this makes the offering truly disruptive,” said Howard Gwin, Partner of Bridgescale and former EVP, Worldwide Operations at PeopleSoft. “Additionally, as a three-time repeat successful entrepreneur, David Ossip’s exceptional track record of building and leading high-growth companies was a strong factor in our investment decision,” Gwin added. Dayforce bridges the real-world gap between workforce performance and enterprise performance. The solution helps organizations plan, deploy and track their workforce to corporate goals in a single application. Dayforce’s proprietary technology allows the solution to meet the needs of organizations of all sizes, resulting in long-term, sustainable growth in a previously underserved market. Dayforce has significant built-in functionality, works on any PC, and requires far less implementation services than competitors’ products to get up and running. Dayforce also integrates seamlessly with third-party systems with minimal effort and eliminates many of the headaches of traditional on-premise deployment.About Dayforce Dayforce offers a complete workforce management solution with functionality that includes time and attendance, labor scheduling, labor forecasting, labor budgeting, labor analytics, task management, human resources and employee self-service. The company has set itself apart from competitors with its vastly superior user experience, much faster application, and by providing significantly greater business value. For more information, please visit http://www.dayforce.com.About Bridgescale Partners Bridgescale Partners is a Menlo Park, California based growth equity firm providing expansion capital to U.S. and Canada-based, later-stage technology companies. The investment team has more than 50+ years of venture capital experience investing in early- and later-stage technology companies. Additionally, the team has invested in more than 100 technology companies in the software, security, digital media, Internet, and communication markets. For more information, please visit http://www.bridgescale.com.### MEDIA CONTACTS:Lisa TarterTidalWave PR for Bridgescale PartnersPhone: 415 203 2462Email: Lisa@tidalwavepr.comWarren PerlmanDayforcePhone: 416 987 2987 x 2212Email: wperlman@dayforce.com

  5. This will be another win for all involved. I had the opportunity to help David build out his senior management team and sit on his Advisory Baord when he was launching Workbrain. This is a great investment for Bridgescale Partners. Congratulaitons!

  6. This will be another win for all involved. I had the opportunity to help David build out his senior management team and sit on his Advisory Baord when he was launching Workbrain. This is a great investment for Bridgescale Partners. Congratulaitons!

  7. This will be another win for all involved. I had the opportunity to help David build out his senior management team and sit on his Advisory Baord when he was launching Workbrain. This is a great investment for Bridgescale Partners. Congratulaitons!

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