Connecteam Raises $37 Million to Accelerate Growth & Expansion of its all-in-one App for Deskless Employees
TEL-AVIV, Israel, April 28, 2021 /PRNewswire/ -- Connecteam, an all-in-one employee app that empowers organizations with non-desk employees to communicate, engage, and operate their teams, has announced the closing of a $37M funding round led by Insight Partners, OG tech, and Wix's leadership team.
Founded in 2016, Connecteam's 10,000-plus global customers span 60 countries and include leading brands such as Nike, Sodexo, SodaStream, ISS, and Plasson.
"We have built the platform from the ground up to meet the needs of organizations with frontline employees. Most people don't realize it, but deskless employees comprise 80% of the global workforce - 2.7B employees around the world," said Amir Nehemia, Co-Founder and CEO of Connecteam. "So many organizations still rely on bulletin boards, phone calls, printed spreadsheets, and face-to-face training to run their businesses. We have plans to change that and help organizations and their employees improve communication, work processes, and collaboration."
During 2020, the company saw massive customer growth of more than 400%, and now has over 150,000 active users. The company grew its team by 300% to meet the rising demand, to better connect teams and improve operational efficiency.
Avishai Abrahami, Wix's CEO and an early stage investor at Connecteam said, "Like Wix, Connecteam is a great product-led company that doesn't just focus on the problem it solves, but also on the people behind it. I am not surprised to see its accelerated growth: it has the right mindset, an outstanding product, and a vast market that is pro-actively looking to do things differently as they are tired of the old ways. I believe we are going to hear much about Connecteam in the future."
Connecteam's focus remains on providing a top tier product for deskless employees globally. The company is constantly enhancing its platform capabilities and is expected to grow its team by over 300% again in 2021. Key milestones for the company have placed an emphasis on growing its R&D team, improving the end-user experience, and scaling its localization and language offerings.
"Running a business with non-desk employees is difficult, and when it comes to technological solutions, so many deskless industries are overlooked and underserved," said Jeff Horing, Insight Partners Co-Founder and Managing Director. "Connecteam changes the way its customers run their business. In just a few minutes, companies can communicate digitally with their team and better manage their workforce, allowing them to operate more efficiently. We are excited to partner with Connecteam to scale up and bring their solution to even more companies globally."
Connecteam is a deskless workforce management app providing an all-in-one experience for communication, engagement operations and training. Connecteam serves over 10,000 customers around the world in over 60 countries from over 200 deskless industries. Providing its product under a SAAS model, the company offers a two weeks free trial and a free version for all companies.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About O.G. Tech
O.G. Tech is a founder-friendly VC primarily focused on fast growing Early Growth investment opportunities, typically in their B and C rounds. O.G. Tech teams up with passionate founders and ambitious teams seeking to disrupt existing industries and create new markets. O.G. Tech is a single LP fund founded and backed by Eyal Ofer's, Ofer Global. O.G. Tech's unique structure allows it to be fully flexible and enables its portfolio companies to benefit from fast decision-making, long term commitment, and a broad global network.
Eyal Ofer and the private portfolio of international businesses within Ofer Global use their vast experience, insight, and global network to help O.G. Tech's portfolio companies and founders grow and succeed.
For more information on O.G. Tech and all its investments, please visit og-tech.vc