The shift-based workforce management software company When I Work has acquired California-based startup Lean.
Minneapolis-based When I Work offers services related to staff scheduling and internal communication, while Lean is a fintech startup that offers financial products for the flex workforce, including on-demand pay. With the acquisition, When I Work plans to introduce custom financial products for hourly workers – which could include cash advances – into its platform early next year.
To Tilak Joshi, co-founder and CEO of Lean, it’s a perfect match.
“It’s kind of the dream when you’re building a company to have the access to millions of workers whose lives you could impact for the better,” he said. “Given how similar our missions are, this is very uncommon to have almost synonymous missions.”
He said the scale of When I Work is a “massive accelerant” to achieving Lean’s goals, which centers around supporting the growing segment of flex and hourly workers. He said financial services are still decades behind this workforce trend, leading to financial hardships for the majority of workers.
The deal closed at the end of last month and the teams expect integration to last through the rest of this year. Joshi is joining When I Work as general manager of financial services.
The When I Work platform streamlines processes like swapping shifts and managing teams and schedules, according to CEO Blake Adams. It’s used by more than 200,000 workplaces worldwide.
It was founded in 2010 and shed its ‘startup’ label in late 2021 — this Business Journal profile has more details on the transition —after revamping its C-suite and landing a $200 million private equity investment from Bain Capital Tech Opportunities.
Since Lean launched with the help of co-founder Eden Kfir, it has partnered with dozens of companies across transportation, nursing and cannabis. It has scaled to more than $50 million in annual volume flowing through its platform.
Joshi said the excitement stretches beyond his company, with its broad investor syndicate in the Bay Area and New York also optimistic about the next stage of Lean.
Adams said the acquisition means “exciting things” for what When I Work can do in its near future and helps to build on its ambitious vision. He said it’s the first in a string of a few big announcements coming in the next year.
