Connecteam is valued at $800 million
The company raised $120 million in a Series C round.
Why You Should Care
Employee management tool Connecteam has secured $120 million in funding.
Learn why its platform is so valuable for frontline workers and their employers.
According to Connecteam, 80% of the workforce have deskless jobs, yet they are too often overlooked in technology, creating large disorganization within these sectors. Business owners in industries including healthcare, manufacturing, security, cleaning, and construction needed a tool for managing their employees.
Connecteam was launched in 2016 by co-founders Amir Nehemia, Daniel Nuriel, and Yonatan Nuriel to provide an all-in-one employee management app for deskless workers. The founders were originally creating Mobile Lesson, a training platform for workers, but decided to refocus = on creating an employee management app.
Some features of Connecteam incorporate the original plans of Mobile Lesson, such as company-wide updates and chat functionality. Additionally, the platform includes deskless-worker focused operational tools, scheduling, clock-in tools, and task management options. Connecteam’s vision was to make this process as easy and accessible as possible.
Now, in a Series C investment round, Connecteam has raised $120 million to ensure its product can run even smoother. As a result, the company is now valued above $800m. Some key investors included Stripes, Insight Partners, Tiger Global Management, Qumra Capital, and OG Tech Partners.
Jeff Horing, co-founder of Insight Partners, explained their attraction to Connecteam: “There is such a strong demand for the functionality Connecteam provides to help manage deskless workers.”
“They saw 400% growth in both revenue and costumers last year and are poised to accelerate their expansion with this new round of funding.”
What’s next for Connecteam?
With the new capital, Connecteam plans to provide a better end-user experience for managers and employees. The company will also continue to improve its app’s functionality and design to ensure it remains easy for employers and employees to use.
Additionally, Connecteam will increase its research and development to ensure further create capabilities that meet customers’ needs. This research will focus on the needs the company has not yet met, to make sure this space is truly the all-in-one experience that it promises.
Lastly, the additional funding will help the company maintain an affordable platform so more businesses can use the app.
CEO and co-founder, Amir Nehemia, said: “Connecteam is for the new generation of managers – the ones who want to do things differently and have a happier, more engaged, and productive workforce.”
Deskless workers make up a large majority of our workforce, so they need to be treated equally. Connecteam has made strides towards creating equal representation in technology, now it’s taking the next step.
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Tully is an economics and journalism student currently on a seven-week internship at UNLEASH.
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