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Connecteam Raises $120M At An $800M+ Valuation For Its All-In-One Communications App For Deskless Workers

Connecteam Raises $120M At An $800M+ Valuation For Its All-In-One Communications App For Deskless Workers

03/02/22, 12:31 PM
Money raised
$120 million
Industry
software
After years of being overlooked, front-line employees and others who do not sit at desks all day are taking center stage in a new wave of workplace productivity apps. In the latest development, Connecteam — an all-in-one app providing HR tools, communications services, and daily operations management (eg scheduling, virtual time cards) — has raised $120 million, funding that it will be using to continue building out the functionality on its platform — recruitment is one area that is currently missing, for example,  — and to bring on more customers.

Company Info

Company
Connecteam
Additional Info
But in what is a sign of the times — not only are deskless workers, estimated to account for some 80% of all workers globally, getting more attention; but the push for more digital transformation has led companies themselves into investing more into technology to make those teams’ jobs more efficient — the startup has been in the middle of a growth spurt. And beyond that, the startup is finding success because it’s tapping into another important enterprise trend, which is a current interest in buying products that cover several functions rather than going for point solutions, which makes both the app and IT spend easier to manage. The company got its start in part from picking up what Nehemia said was a “huge gap” in the market and subsequently pivoting from a previous startup idea to address it.He and co-founders Daniel and Yonatan Nuriel were building Mobile Lesson, a training platform for both knowledge workers and deskless workers. It seemed like that was a bigger opportunity for the company to tackle first before hoping to sell training to those teams, and that’s where Connecteam got its start. “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 does provide an option for those who need it to integrate third-party tools — something a larger enterprise might choose to use — but it also gives customers the option of importing data from other software if it’s migrating to do everything on Connecteam.“There is no need to have several apps” when you use Connecteam “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. As more companies adapt to a deskless workplace, Connecteam provides the tools and confidence managers need to be successful. But in that context, Connecteam is one of the bigger players, currently with 20,000 business customers, ranging from small businesses with 5 employees through to organizations like SodaStream (part of Pepsi), Nike and McDonalds, and covering what COO Yuval Magid described as 200 different verticals.