Karlsruhe-based AI workforce management software firm Nesto, which develops a platform that uses AI to forecast staffing needs and automate shift planning for hospitality businesses, has raised €11 million in growth equity funding from Expedition Growth Capital.
- Founded in 2017 by Felix Kaiser and Dr. Theodor Ackbarow, engineers from the Karlsruhe Institute of Technology, Nesto develops AI-driven workforce management software for the hospitality sector. The platform is used across over 3,000 locations by more than 100,000 daily users, from independent restaurants to large chains.
- Nesto combines demand forecasting, shift planning, time tracking and payroll in one system. Its AI analyses sales data alongside external signals such as weather and local events to forecast staffing needs weeks in advance and automatically generate schedules aligned with demand, employee availability and labor regulations. It also integrates with payroll and HR systems to reduce manual administration.
“We know the operational challenges of the industry firsthand. Our goal is to absorb this complexity through our system and meaningfully relieve operators in their daily work. With Expedition, we have the right partner for our ambitious next phase of growth," claims Dr. Theodor Ackbarow, Co-Founder and Executive Chairman of Nesto.
- Operators monitor performance across locations via real-time dashboards, while employees access schedules and updates through a mobile app.
- The company reports productivity gains of over 10%, planning time reductions of up to 80%, and forecast accuracy of around 90% under optimal conditions.
Details of the deal
- The firm aims to use the fresh capital to scale its AI capabilities, strengthen its data infrastructure, and accelerate international expansion as it seeks to establish itself as a leading operating system for workforce management in hospitality across Europe and beyond.
