ShiftPixy
Hilco Streambank presents the opportunity to acquire the assets of ShiftPixy, Inc. and its affiliates (collectively, “ShiftPixy” or the “Company”).
ShiftPixy leverages its cloud-based proprietary software platform to provide on-demand workforce solutions for business clients and shift workers. Through its mobile-first software, the platform connects more than 88,000 shift workers to businesses who are supported by back-end platform support which enables businesses to track KPIs.
Utilizing artificial intelligence (AI) employed in the software environment and the mobile app, ShiftPixy recruits, onboards, schedules and manages shift workers available to be scheduled based on the often-changing needs of clients in the light industrial, hospitality, and healthcare industries. The platform provides comprehensive workforce solutions including payroll processing, HR administration, and insurance services for businesses, while also offering a marketplace for shift work and gig opportunities.
ShiftPixy generated more than $17 million of net revenue in fiscal year 2023 from $46.2 million in gross sales and continues to service the needs of its clients and shift workers.
Unlike traditional staffing agencies that rely on third-party partnerships and integrations, the ShiftPixy platform facilitates real-time management of shift workers, making it ideally suited for efficiently managing a geographically dispersed temporary workforce. This technology-driven approach serves as a differentiator, allowing the platform to offer superior scalability, flexibility, and responsiveness.
The Company generates revenue through a markup on wages of staffed workers, and through administrative fees through employment administrative services offerings.
Year-end figures from Form 10-K, ShiftPixy, Inc., December 2023 and internally prepared, unaudited financials.
ShiftPixy’s system architecture is robust and scalable, designed to meet the evolving needs of clients and shift workers. It comfortably supports thousands of users and handles millions of transactions annually.
The SaaS platform utilizes modern languages and libraries:
- Front End: Vue and React/Next
- Back End: Node.js, Go, and Python
The platform is hosted on a cloud-based infrastructure, ensuring high availability and scalability.
The system’s core objects include users, requisitions, suppliers, candidates, and contracts. Each object is interconnected, allowing for seamless data flow and ensuring that all components of the vendor management system work in unison. For example, a requisition object connects to suppliers, who then submit candidates, leading to contracts upon successful placements.
The application’s configuration model is modular and flexible, allowing clients to tailor the platform to their specific needs. Configurable elements include user roles, permissions, workflows, templates, and reporting dashboards.
The mobile application offers comprehensive end-to-end functionality, including requisition creation, approval workflows, timecard submissions (and time entry), and real-time notifications. It is designed to provide managers and workers with the ability to manage tasks and access information on the go. Workers onboard using the app (assisted by an AI-enabled chatbot), can record their pre-hire interview, and use the app for clocking in and out.
The platform accommodates complex timekeeping needs, ensuring accurate payroll processing. The system allows contingent workers to enter time worked for multiple shifts at varying pay rates within a single day or week.
- Recruiting: ShiftPixy’s live, on-demand ecosystem means that the system can fill staffing needs in real time. The platform’s human capital deployment map shows workers’ availability and location in real-time.
- Onboarding: The employee onboarding process involves a 20-minute AI-powered chat in English or Spanish. Employees receive guidance along the way from ShiftPixy’s mascot, Pixy, to complete federal, state, and application forms and simply sign once.
- Compliance: ShiftPixy manages wage and hour regulations as the legal employer of record, allowing clients to focus on their core business operations rather than compliance matters.
- Scheduling: The platform defines positions, assigns day and time slots, selects and allocates team members to each position, and confirms and publishes shifts. An algorithm monitors schedule changes. If anyone vacates a shift, the platform suggests the next best candidate from the bench.
- HR Services Platform: The platform’s integrated suite of HR services manages payroll, taxes, benefits, compliance, analytics.
- Easy to use app: The ShiftPixy mobile app and desktop applications provide an easy to user interface for both job providers and shift workers.
- Instant Interview: Incorporate AI and automation technology into your interviews to facilitate the hiring process to create convenience and efficiency.
- Fast Fill Technology: Leverage Real-Time Market Intel to Capture Job Seekers.
- AI-Driven Recruitment, Onboarding, and Scheduling Tools: Capture and Rapidly Move Workers to Action with Machine Learning.
- Live Shifter Dashboard: Track and manage teams from one easy-to-use Dashboard.
- Real-Time Business Analytics: Clients gain useful insight into their workforce.
ShiftPixy has established relationships with staffing agencies to grow its roster of shift workers so that clients’ needs are met on demand. Since transitioning from a sole focus on the quick service restaurant industry in Southern California to a nationwide offering of workers in the light industrial and healthcare space, the platform as quickly onboarded thousands of workers nationwide ready to assist job providers’ everchanging needs.
ShiftPixy is a chapter 11 debtor in a bankruptcy case pending before the United State Bankruptcy Court for the Southern District of Florida, Case No. 24-21209-LMI. Hilco Streambank’s retention by ShiftPixy and the sale process outlined herein are subject to the approval of the United States Bankruptcy Court for the Southern District of Florida.
Contact Hilco Streambank at [email protected] for more information.
| Richelle Kalnit
Chief Commercial Officer & SVP 212.993.7214 |
Paul Gleason
Analyst 484.844.1858 |
Hilco Streambank expressly disclaims any and all liability for representations or warranties, expressed or implied, contained in, or for omissions from this document or any other written or oral communication transmitted or made available to prospective purchasers. Any and all representations and warranties regarding the information described herein shall be only as negotiated and set forth in a definitive purchase agreement. Any prospective purchaser acknowledges its responsibility to perform a due diligence review prior to consummating a transaction involving the Company. Any materials or information provided, whether written or oral, do not constitute an offer or solicitation of an offer of any kind to buy or sell shares or any other securities described herein in any jurisdiction.
