Virtual office startup Teamflow announces that it has secured $35 million during a series B funding round in an effort led by Coatue Management.
This time around, Teamflow has managed to get investment from Menlo Ventures and Battery Ventures. Adding in the $11 million raised in March in Series A, the total investment into Teamflow has come up to a whopping $50 million.
Teamflow is a program that gives people the chance to have a 2D virtual workspace in an effort to make remote and hybrid workforces more streamlined.
Using these funds, Teamflow plans to increase its workforce to take on more business while also expanding its operations to other countries. The first step is the introduction of Spanish and French language support.
It enables you to see yourself as a digital avatar that can move freely around a virtual ‘office.’ To create a sense of presence, these avatars can move around like you would in a typical office. In addition, there are features such as proximity audio which allows you to hear people that are ‘near’ you to make this feel normal.
The world around us is changing, and Teamflow plans to lead
In a post-pandemic world, most people are not willing to go back to the office. They have realized that they can do their job just as well from home. 55% of employees claim that it would negatively impact their relationship with work if they were asked to come back to the office. 39% of employees claimed that they wouldn’t be willing to continue their jobs if they were forced to come back to the office.
Life is very different now. The nature of how ‘work’ was done has completely changed into something entirely new. Over the last year and a half, people have realized that modern technology has made it easier to eliminate going to the office altogether.
“The pandemic has fundamentally changed the nature of work, and the tools we used daily before the pandemic need to be reimagined for our new world,” said Lucas Swisher, a general partner at Coatue Management.
It has never been easier to work from home with features like chat, videoconferencing, document sharing, whiteboards, and slideshows. Teamflow’s model is so successful that it is used by companies like Netflix Inc. and Shopify Inc.