Eagle’s TSheets prepares to move to new headquarters, hire hundreds of workers

TSheets, the Eagle digital time-sheet company, says it is hiring continuously and doubling annual growth as it prepares to move into larger headquarters.

The company is like a hermit crab, CEO Matt Rissell said, outgrowing its offices near the intersection of South Eagle Road and East State Street and shambling toward The Bridges at Lakemoor, a retail and office complex north of Chinden Boulevard on the east side of Eagle Road.

“We’re still the same scrappy, underdog company with something to prove to the world,” Rissell said. “We’ve just got a new shell.”

TSheets plans to start moving into 42,000 square feet in the first two stories of its new building in the coming months. The software engineering team and some in the administration team will move into the first floor in mid-May, Rissell said. The sales, customer-experience and marketing teams will move into the second floor about a month later.

TSheets may opt to occupy the 11,200-square-foot third floor later.

“We have the option to move into the third floor when we need it, and something tells me we’re going to need it,” Rissell said.

The company plans to double its employee roster to about 400 by the end of 2018, Rissell said.

About 500,000 users in about 100 countries track employees’ time using TSheets software.

Rissell said the company has kept growing without touching much of the $15 million investment TSheets received in 2015 from Summit Partners, one of the nation’s largest private equity firms.

“Honestly, we still haven’t leveraged the Series A money we received over 19 months ago,” he said. “That money is still ready to be deployed,” he said. “We have however, leveraged the wisdom of our new board members, which was the purpose of our Series A.”

Series A refers to the first round of venture capital financing for a company that has proved its product, secured customers and built a track record. It is often part of a years-long process that ends in a public offering of stock, when earlier investors may cash out.

This story was originally published March 16, 2017 at 10:40 AM with the headline "Eagle’s TSheets prepares to move to new headquarters, hire hundreds of workers."