Stripes and Insight Partners co-led the Series C round with additional participation from Tiger Global, Qumra Capital, and existing investor O.G. Tech
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.
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“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.”
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.
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“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.”