Connecteam Raises $120 Million in Series C Funding to Power a New Era of Deskless Workforces
TEL AVIV, Israel--(BUSINESS WIRE)--Connecteam, which provides everything a company needs to empower, manage, and engage its deskless workforce, today announced it has raised $120 million in a Series C round of funding co-led by New York-based growth equity firm Stripes, and New York-based private equity and venture capital firm Insight Partners, with participation from Tiger Global, Qumra Capital, and Eyal Ofer’s O.G. Tech. Insight Partners also led Connecteam’s previous round. The Series C brings Connecteam’s total funding to $160 million. This new round of funding will help Connecteam scale its global operations, triple the size of its team, and expand both research and development and marketing to help businesses around the world manage and engage their deskless workers.
Despite the existence of sophisticated software to automate back-office tasks and manage salaried workers, very little has been invested in improving the experience of deskless workers or the experience of those who manage them.
Connecteam helps companies of all sizes and across multiple industries — from small mom-and-pop shops to Fortune 500 firms in such industries as construction, security, healthcare, manufacturing, retail, hospitality and others — improve how they manage and engage their deskless workers. The company’s all-in-one app includes features for tracking time and attendance (including time off), communications, learning and training, employee recognition, and more, and is designed to help manage the more than 2.7 billion workers or 80% of the global workforce that are not tied to a desk. It is fully customizable to serve the needs of companies of any size without the need for IT support.
“Connecteam’s rapid growth is facilitated by demand from a new generation of managers who are keen on doing things differently: real-time, trackable, measurable, digital. Managers who are no longer willing to accept the old fashioned ways of running a frontline business,” said Amir Nehemia, CEO and Co-Founder, Connecteam. “Employees and managers alike crave high quality tools and experiences in their work life. Connecteam is committed to providing those tools — from day-to-day operations, to internal communication and all the way to HR and people management. I strongly believe that any deskless business must have an app to run their operations, and that is why we also offer a fully free tier — so everyone who needs it can use it.”
“The beauty of the Connecteam product is that it is incredibly powerful and versatile, yet also extremely easy for owners, managers, and employees to adopt and use,” said Saagar Kulkarni, Partner at Stripes. “After speaking with glowing Connecteam customers who raved about how the product has transformed their businesses, it’s hard to understand how you can manage a business with deskless workers without using Connecteam. We’re proud to back an incredible team that has built such an amazing product.”
“As more companies adapt to a deskless workplace, Connecteam provides the tools and confidence managers need to be successful. With its best-in-class product and strong leadership, Connecteam has already achieved traction in more than 80 countries and continues to grow,” said Jeff Horing, Co-Founder and Managing Director at Insight Partners. “We’re confident Connecteam will shape the future of the deskless workforce, and we look forward to our partnership as the company continues to scale up.”
Connecteam’s all-in-one product is comprised of three different hubs, providing everything deskless managers need to run their business:
- Operations: Time tracking, scheduling, checklists and forms, task management
- Communication: Internal chat, organizational directory, updates and announcements, surveys
- HR and people management: recognition and rewards, employee documentation management, employee timeline, training and skill building
Connecteam offers a plan to fit a business of any size: free plans or low tier plans starting at $39/month to tailored enterprise solutions for global enterprises.
Founded in 2016, Connecteam has 20,000-plus global customers that span 80 countries and include leading brands such as SodaStream (PepsiCo company), Sodexo, Saint Gobain, Berry Global and others. Connecteam has also achieved 400% growth year-over-year in the past two years.
Connecteam is a deskless workforce management app providing an all-in-one experience for communication, engagement operations and training. Connecteam serves over 20,000 customers around the world in over 80 countries from over 200 different industries. Providing its product under a SAAS model, the company offers a two-week free trial and a free version for all companies.