Strong adoption of virtual offices signals new future of work across every industry
Teamflow, the virtual office leader, announced it has secured an $11 million Series A investment round, led by Battery Ventures. The Series A comes just two months after the company announced its $3.9 million seed round, led by Menlo Ventures, bringing total financing to $14.9 million.
Proceeds from the Series A round will be used to grow its engineering team and cement Teamflow’s early leadership in the nascent virtual office space.
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“Remote models have changed everything about the way we work, and now we’re seeing new, innovative tools to help companies manage this new reality—while keeping company culture intact,” said Neeraj Agrawal, a general partner with Battery Ventures. “At Battery, our focus on culture and corporate transparency was honed through our investment in jobs-and-employer site Glassdoor. Now, we’re thrilled to partner with a next-generation disruptor, Teamflow, and build for a future where you can work from anywhere but still feel like part of a team.”
Accelerated by COVID-19, the demand for virtual offices has increased dramatically with the changing nature of the workplace. Per a Gartner survey, 82% of companies intend to permit remote working at least some of the time when the pandemic is over, and 47% will let employees work remotely all of the time.
While Teamflow was initially centered on the tech sector, key verticals across industries like healthcare and finance are also grappling to help their hybrid workforces succeed. With Teamflow, everyone can be in the same space virtually, whether in the office, at home, or on the road.
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“The top priority of most companies this year is to successfully manage their transition to remote or hybrid,” said Florent Crivello, Founder and CEO of Teamflow. “With this growing demand, we are witnessing the birth of a new category of virtual offices, which are a universal need and a huge part of how companies can work productively now and in the future.”
Teamflow’s average paying customer spends 8 hours a day on the product, 5 days a week. Companies using Teamflow include Autodesk, Disney, Mixpanel, Netflix, Quora, Shopify, and Uber.
“With Teamflow in place, we’ve been able to streamline the tools we use for keeping the team connected,” said Rafael Sanches, co-founder and CEO at Anycart. “We aren’t using email nearly as much, and we’ve stopped using Slack altogether.”
“There isn’t room in people’s lives for much more than one or two products like this,” says Crivello. “It’s a rare and special thing to be used 5 days a week, 8 hours a day.”
In addition to its strong adoption, Teamflow is also releasing a major update to this product, which now includes a fully-featured chat, file and image sharing, and games like Poker or multiplayer Tetris to help remote workers unwind with their team at the end of the day.
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