- Last Year's Earnings Report Shows 73% Revenue Growth, Setting New Records
- Direct Investments Targeting SaaS Companies with Synergistic Potential

Media Coverage

• ▶︎ Shiftee Reports 1.65 Billion KRW Operating Profit, Achieving 1,332% Growth Year-Over-Year
• ▶︎ HR Solution Company Shiftee Reports 1.65 Billion KRW Operating Profit Last Year, Up 1,332%

Shiftee, a leading integrated workforce management solution provider (CEO: Seungwon Shin), announced that it achieved a 73% increase in revenue and a staggering 1,332% growth in operating profit compared to the previous year. In 2022, the company recorded total revenue of KRW 3.38 billion and an operating profit of KRW 1.65 billion.

Now in its fifth year since its founding, Shiftee has established a strong foothold in the domestic workforce and attendance management market with its flagship solution, also named Shiftee. The company turned profitable in 2020, just three years after its inception, and has continued to break its own growth records annually, drawing industry attention.

Several external factors have contributed to Shiftee’s success, including the implementation of the 52-hour workweek, the diversification of work models such as remote and flexible work due to the prolonged pandemic, the explosive growth of the cloud market, and the accelerated pace of digital transformation among enterprises. However, the excellence of Shiftee’s product has also been a key driver. The solution is easily adopted by businesses of all sizes and industries and integrates seamlessly with existing enterprise solutions. Its greatest strength lies in offering a wide range of functionalities within a single platform. With Shiftee, companies can manage work schedules, leave policies, clock-in records, payroll processing, electronic contracts, request-approvals, messaging, open APIs, and ERP integrations—all in one place. Leveraging both internal and external growth drivers, Shiftee has maintained profitability and sustained operating profit growth for three consecutive years.

Furthermore, Shiftee has taken an active role in fostering collaboration among domestic SaaS companies. The company is not only leading efforts to establish a globally competitive B2B SaaS ecosystem through strategic partnerships but also making direct investments, leveraging its strong cash flow. Shiftee plans to invest strategically in SaaS companies that offer synergies with its business. It has already completed its first investment and is set to finalize another by March.

This year, Shiftee aims to solidify its position as a leading workforce management solution provider while aggressively expanding its client base both domestically and internationally. The company is also set to announce a strategic partnership with a major domestic SaaS company in the second quarter, raising expectations for continued growth. Given its current trajectory, Shiftee anticipates another year of rapid expansion in 2023.

CEO Seungwon Shin stated, “It’s incredibly rewarding to see Shiftee evolve from a company seeking investment to one that now has the financial strength to invest in others, all within just five years.” He added, “As Shiftee continues its steady growth, we remain committed to driving further development of the domestic B2B SaaS ecosystem through strategic investments and partnerships.”

Integrated Workforce Management Solution, Shiftee