- Revenue Increased by 96% Year-on-Year, from 3.38 Billion KRW to 6.649 Billion KRW
- Operating Profit More Than Tripled to 4.962 Billion KRW, Achieving an Operating Profit Margin of 74.5%

Media Coverage

• ▶︎ Record High Revenue and Operating Profit for HR Solution Shiftee... 'A Leap into Global Markets
• ▶︎ Shiftee Records Approximately 5 Billion KRW in Operating Profit for 2023

Shiftee (CEO SeungWon Shin), an integrated workforce management solution provider, achieved a record high in both revenue and operating profit in 2023, posting a revenue of 6.649 billion KRW and an operating profit of 4.962 billion KRW.

Shiftee's 2023 revenue grew by 96%, from 3.38 billion KRW in the previous year to 6.649 billion KRW. Operating profit surged more than threefold, from 1.65 billion KRW to 4.962 billion KRW, with an operating profit margin reaching 74.5%. The company continues to break its own records year after year. A significant contributor to this growth was the influx of enterprise customers with over 1,000 employees, which helped drive revenue. Companies with more than 10,000 employees also selected Shiftee’s workforce management solution, opting for a SaaS model rather than building their own systems as they had in the past. The Taiwanese market, which Shiftee entered in September of last year, also contributed to the growth, surpassing 30 million KRW in Monthly Recurring Revenue (MRR) just two months after launch.

Shiftee has consistently achieved rapid growth, capturing both revenue and profit, and is now regarded as a model example for startups as well as the domestic HR SaaS industry. The company’s key growth driver lies in its product itself, which can be easily implemented in SaaS form without restrictions based on company size or industry.

In line with its mission to provide an integrated workforce management solution, Shiftee combines a variety of essential corporate workforce management functions, including scheduling, leave management, attendance records, payrol, electronic contracts, request-approvals, and messaging, all in one solution. The system supports easy integration with existing corporate solutions, including open APIs and internal ERP systems, and has received ISO27001 certification for information security, making it the first among domestic workforce management solutions to do so. As demonstrated in the Taiwanese market, Shiftee’s SaaS solution can be readily applied to international markets, making it an attractive option for medium and large enterprises with overseas subsidiaries.

CEO SeungWon Shin of Shiftee commented, “In January, we received the highest number of new inquiries from companies since our founding, and we expect to maintain a similar growth rate this year.” He added, “This year, we plan to focus on expanding into international markets, and it will be a more ambitious year than ever as we aim to move beyond being the leader in Korea to becoming a global company.”

Integrated Workforce Management Solution, Shiftee