Princeton-based growth equity investment firm Edison Partners on Tuesday said it led a $115 million growth investment round in New York-based Fingercheck, which provides a state-of-the-art, all-in-one workforce management platform for small and medium businesses with ‘deskless’ workforces — a complex part of the market, generally led by time-strapped entrepreneurs who are saddled with multiple point solutions.
Eighty percent of the U.S. workforce performs their jobs away from a traditional desk across industries such as construction, property management, retail, health care, technical trades, and more. Analysts forecast a $5.1 billion total addressable market for deskless workforce management with growth at a 7.6% CAGR through 2028.
StepStone Group and Columbus Capital also participated in the investment.
Fingercheck was advised by KPMG Corporate Finance.
The company is also announcing the appointment of highly experienced executive leader Dan Kazan as chief executive officer. Under Kazan’s leadership, the company will use the new capital to further develop its product and technology and expand its headcount and go-to-market efforts.
Fingercheck has built a modern platform from the ground up to give business owners and their employees a simple, singular, convenient, cost-effective platform for the entire lifecycle of the deskless employee.
“Businesses with deskless workers, who work hourly and are on their feet, have unique workforce management needs ranging from mobile first to time and attendance, which have not been met by the tech industry historically. Fingercheck understands this and is delivering a seamless platform, purpose-built for these businesses where management is wearing many hats from CEO to CFO to CHRO,” Chris Sugden, managing partner of Edison Partners said. “We’re impressed with Fingercheck’s best-in-class retention metrics, capital efficiency and expansion through organic, profitable, and steady product-led growth and we’re excited to partner with the Company to continue to expand.”
“Our team is looking forward to this partnership. Edison Partners brings unparalleled expertise, resources, and network effects that will accelerate Fingercheck’s expansion and strengthen our competitive position,” Joel Kohn, founder of Fingercheck, said. ”Edison shares our vision, values, and commitment to innovation that will continue to drive growth and shape our future. Great things ahead.”
“Fingercheck’s software takes the workforce management headache out of the equation for SMB’s with deskless workers, allowing those business owners to focus more of their time on their passion: growing their business,” Dan Kazan, CEO of Fingercheck, said. “I’m excited to work with and expand the team, to invest further in all aspects of the business, and to bring this software to a wider market.”
