Employee management app Connecteam raises $37m

Israeli employee management app Connecteam has announced the completion of a $37 million financing round led by Insight Partners, OG tech, and Wix’s leadership team. This brings to $40 million the amount raised by the company, according to Start Up National Central.

Connecteam has developed a deskless workforce management app providing an all-in-one experience for communication, engagement operations and training. The company 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. Founded in 2016, Connecteam’s customers include leading brands such as Nike, Sodexo, SodaStream, ISS, and Plasson.

Connecteam cofounder and CEO Amir Nehemia said, “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 – 2.7 billion employees around the world. 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.”

Connecteam saw 400% customer growth in 2020 and now has over 150,000 active users. The company enlarged its team by 300% to meet the rising demand, to better connect teams and improve operational efficiency.

Wix CEO Avishai Abrahami, an early stage investor in 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.”

Insight Partners cofounder and managing director Jeff Horing said, “Running a business with non-desk employees is difficult, and when it comes to technological solutions, so many deskless industries are overlooked and underserved. 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.”

Published by Globes, Israel business news – en.globes.co.il – on April 29, 2021

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