Teemyco, a Swedish online office provider, has raised $3.2 million in funding. The lead investor was 42CAP.
Teemyco, the Swedish online office provider, announced today that they raised $3.2m from German seed fund 42CAP, who led the round with participation from previous investors Antler, Luminar Ventures and numerous high profile angel investors; Mehdi Ghissassi (Head of Product, DeepMind) and Sameer Singh (Creator of Breadcrumb.vc), who are investing via the 2021 Atomico Angel Programme, and Keith Richman (Co-Founder of Voi & Partner at 31 Atlantic).
The company was founded in late 2019 and has created a customizable virtual space, where co-workers co-exist in rooms or sit by the same virtual table, using voice and video technology to interact with each other. Due to the pandemic, Teemyco has experienced a spike in demand for their service. Today, Teemyco is released to companies with teams of 250 people. With this wide release, the company is launching a new version which allows companies to build, furnish and brand their online office to their own liking.
“During our closed Beta in 2020, users told us they love the seamlessness, seeing what is going on, the ease to co-work in the same virtual room and the fact that no links are needed to talk ad hoc. With this new design we add further customization opportunities. Users want it to be their branded office, not the Teemyco software,” says co-founder and CEO Charlotte Ekelund.
The funds will be used to double the size of the team, focus on further product development and also scaling the sales and marketing efforts.
“We see Teemyco as the natural player in the hybrid work from anywhere future that awaits companies once the pandemic calms down. The team saw this trend coming already before Covid-19 hit. We agree that personal flexibility is a key component in the future of work, and Teemyco enables this future.” says Thomas Wilke, Partner at 42CAP.
To date, Teemyco has primarily focused on onboarding tech companies as early adopters, and has users across 70 countries. Customers include Greenely, Upstreet, Hack your Closet, eHealthApp, and Mr Lee’s noodles. The service has seen a rapid growth of active users spending on average 7.5 hours per day on the service during weekdays. Also, enterprises are showing increasing interest and can currently sign up on the enterprise waiting list.
Teemyco is a Swedish based software company creating online offices to bridge the virtual and real world. Teemyco is a virtual space where people are together no matter where they work from. Teemyco replicates real office interactions and brings back ad hoc conversations without the need of scheduled links. The company’s vision is to create everyday work happiness. Teemyco was co-founded in 2019 by Charlotte Ekelund and Oleg Danylenko and has to date raised over 4 million USD from, 42CAP, Luminar Ventures, Antler and private investors including Åsa Riisberg, Karin Bjerde, Keith Richman, Mehdi Ghissasi, Sameer Singh, and Kim Fai Kok.