Snapshift is a Parisian startup that has recently made the news in business circles with its $45 million round of investor backing. The company specializes in providing web solutions for the staff management of restaurants. If you're not yet familiar with this company, here are twenty things you probably didn't know about Snapshift to bring you current.
1. Snapshift caters to a specific industry
Snapshift is a technology company that serves clients in the restaurant industry. The startup provides software for the management of staff in restaurant settings. The software platform provides restaurant owners with tools for creating online contracts, proofs, endorsements, schedules, timesheets, and leave requests. It moves all staff management tasks to one convenient place online, to make the job easier for owners and managers. It streamlines administrative tasks, leaving owners more time to focus on the needs of their customers, according to Crunchbase.
2. Snapshift has been around for a while
Snapshift is not a brand new company. It launched its operations in 2016. As of 2022, Snapshift will have been in business for six years. It is an information technology company that provides software solutions for restaurants. The headquarters is in Paris, France. This is why many readers in America have not yet heard of the business.
3. Snapshift's website uses a complex array of technologies
Snapshift has a website if you're interested in checking out its products and services. The website actively uses forty-three technologies to power its website. These technologies are distributed across thirty-three technology products and services to achieve a smooth and seamless experience for visitors. Some of these technology products and services include Google Analytics, HTML 5, Viewport Meta, iPhone Mobile Compatible, SSL by Default, jQuery, and dozens more.
4. Snapshift has an impressive number of downloads
The software solutions that Snapshift offers its products and services to clients in a downloadable form from its website. The analytics reports for the company show that in the last thirty days, 4,747 downloads of the programs were completed. This represents a decline in the number of monthly downloads of 4.41 percent. The most popular app downloads are Snapshift and SnapPad, accessed through Google Play and iTunes Connect.
5. Snapshift's website is attracting high volumes of traffic
The analytics report for the Snapshift website shows that the number of monthly visits has grown over the past thirty days by 44.82 percent. This is a significant increase. The total number of monthly visits was 184,575. Snapshift's website is ranked as number 211,819, by web volume of the millions of websites registered on the world wide web. When you look at the total number of visits and compare it with the number of downloads, it appears that the conversion rate from visit to download could use some improvement.
6. Snapshift is the most popular in France
One hundred percent of the web traffic to the Snapshift website is from people living in the country of France. This tells us that the company is focused on selling its products and services to French users. It also tells us that there is ample room for the business to grow and expand further into the European market and beyond. We see no evidence of penetration into other markets throughout the world. The home-based strategy is commonly used by companies getting their startups firmly established and on solid financial footing before making a move into international markets. So far, Snapshift has done a good job of securing its posturing in the industry within the French market.
7. Snapshift is a venture capital-backed enterprise
Snapshift has participated in three rounds of venture capital fundraising. The most recent round of Series A funding closed on February 3, 2022. The total amount raised is $49.3 million. The first round of VC fundraising occurred on May 15, 2017, with a Seed Round with two investors. The second round was held on November 19, 2019, raising 3.5 million Euros. The third round brought in an additional $45 million with three investors. The latest round of fundraising shows a significant increase in the funding investors were willing to put into the company, which suggests that we're going to see some big changes happen soon.
8. Investor confidence in Snapshift is high
Snapshift has successfully attracted the interest and support of five major venture capital investors with two of them taking the lead. The most recent companies to join in the fundraising efforts are Bpifrance and Highland Europe, the latter a lead investor led by Jean Tardy-Houbert. They're joined by UL Invest, Femmes Business Angels, and Paris Business Angels. The two latter firms invested in Snapshift's Seed Round of funding.
9. Snapshift is a privately held enterprise
Snapshift has maintained private holding status since its inception in 2016. The owner of the company has opted to keep the company privately held and has not yet filed for an initial public offering to take the business to the public arena. This is why you won't find stock shares of Snapshift available on any of the public stock exchanges. It is solely funded by angel investors and private venture capital companies. Our research has not revealed any plans for Snapshift to go public in the future, at least not yet.
10. Snapshift seeks to improve communication in the restaurant industry
Techcrunch reports that the Snapshift platform has its place in an industry that is struggling to maintain staffing. The world is going through an era called "Great Resignation" because of the mass number of people who are adjusting to a new world order brought on by the recent pandemic. Companies are struggling to attract, hire, and retain workers, particularly in the restaurant industry. The tech solutions help restaurant owners to provide better communications about scheduling work assignments in an online environment for easier access. The software makes it easier for managers and workers to access necessary forms and submit them electronically, to cut down on the time and effort required for these processes.
11. Snapshift is following modern trends
Snapshift helps its clients to adapt to the new modern technologies to communicate with its workforce. It's streamlining and modernizing the restaurant industry, creating a deskless workforce that isn't weighed down with following elusive paper trails. It signals a change for the blue-collar workforce in a new modern way of doing things that is more efficient and less cumbersome.
12. Snapshift's numbers soared with the pandemic
The pandemic has broken many businesses, but we've seen a rise in tech companies that offer meaningful products and services during a time of economic struggle. Snapshift has seen an upsurge in the demand for its services for the 2021 business year. Reports show that the company has secured more than 6,000 customers. Many of them are high-profile businesses such as Carrefour, Biocoop, Fitness Park, Columbus Cafe, Pizza Hut, Amorino, Spar, and thousands of others.
13. Snapshift is gearing up for expansion
The recent influx of investor funding presents Snapshift with the financial leverage to grow and expand its operations. The business plans to expand its software to all retail sectors in Europe, in the restaurant and hotel industries. The strategic plan targets Spain as the first country it plans to enter. If Snapshift follows through with its plans, the solutions will soon be offered throughout the whole of Europe.
14. Snapshift was born out of a personal need
The creator of Snapshift is the owner of the company. Olivier Severyns is a restaurant entrepreneur who experienced difficulties managing his staff rotas. he created Snapshift to better manage his restaurant endeavors. Its effectiveness inspired him to create a startup to offer the technologies and services to other businesses, and this is how Snapshift was created. Seversyns realized that he had a marketable product that would help countless others to solve similar problems he experienced in the restaurant business.
15. Snapshift is on a mission
The mission of Snapshift is to help SMEs to optimize all functions that are related to human resources functions. its solutions go beyond staff scheduling to include payroll management and the complex processes involved with employees and the company. The goal is to optimize each process to streamline and modernize them and provide guidance for restaurant staff and employees to create a smooth and seamless exchange. Implementation of the system will hopefully create an environment to retain more restaurant staff for longer. There is a high potential for reducing the high turnover rates. The potential for saving time and money in training associated with new employees is a byproduct of the new system that creates another benefit.
16. Snapshift plans to double its workforce
Snapshift has a current workforce of a little over seventy workers at its Paris, France headquarters. The goal of the leadership is to more than double that number to one hundred and fifty staff by the end of 2022.
17. Snapshift has some stiff competition
Snapshift isn't the only company that provides scheduling and management solutions. Its biggest competition is Excel. Most of the clients it currently serves are moving from Excel to Snapshift to modernize their digital scheduling solution and move away from products not based on an online platform. Other competitors of Snapshift are Planday, a company out of Denmark, which just raised more than $73 million from its investors, and Skello, another French company that recently raised more than $54 million for its growth and expansion. The Software As A Service industry is alive and well. From all appearances, there is room for more, and Snapshift is getting in on the action. These are the four providers who go head to head to attract the attention and confidence of companies in need of the management tools they offer.
18. Snapshift is hiring
According to its LinkedIn page, Snapshift is beginning to fulfill its commitment to growth and expanding its workforce. The company has listed twenty-nine new job openings on the site. So far, all of the new jobs are for new staff members to work on-site at the Paris, France headquarters. It appears that Snapshift is building its infrastructure at its home headquarters before it expands into international territories. Their strategy includes adding new engineers, developers, and tech positions. They're also adding product managers, marketing operations managers, a head of brand and content, and numerous other job openings that show they're expanding their executive and management teams with high-ranking positions. The jobs focus on operations, marketing, and product development. The company is entering an exciting new development phase and expansion as it prepares to take Snapshift internationally.
19. Snapshift promises greater freedom for clients
Snapshift offers potential new clients a simple promise. That is to free more of their time to focus on the things that matter. It's a brilliant yet simple advertising strategy that captures the attention of overworked and stressed restaurant owners and managers. It entices them to look closer at the software solutions that reduce the time spent on administrative tasks. The company offers a demo version of the software for those interested to try it out at no cost. If it's a good fit, they offer subscription plans to get started.
20. Snapshift is a company to keep your eye on
Snapshift isn't the only software company that offers scheduling and business management software solutions, but it is unique. Although it's currently only open to private investors, that may change in the months and years to come. Snapshift is a company that is on the move and growing. They've not yet announced any plans to move outside the European market with their software solutions. The move into other countries signifies an opportunity to change the way businesses in the restaurant and hotel sector operate. It offers a glimmer of hope for those hoping to attract and retain a more dedicated workforce.
Written by Allen Lee
Read more posts by Allen Lee