Connecteam Valuation, Funding & Investors

Connecteam is valued at $800M as of March 2022.

Last Connecteam valuation

$800M

Series C · Mar 2022

Last Connecteam funding round

$120M

Series C · Mar 2022

Cumulative funding Connecteam raised

$158M

across 3 funding rounds

Key investors in Connecteam

  • Insight Partners
  • O.G. Venture Partners
  • Tiger Global
  • Stripes
  • Qumra Capital
  • Avishai Abrahami

Connecteam Overview

About Connecteam

Connecteam is a Tel Aviv-headquartered mobile app for frontline workforce management, launched in 2014. It offers scheduling, time tracking, task assignment, and communication tools for field teams in retail, construction, and hospitality. The platform serves over 20,000 companies globally, with features compliant to GDPR and integrations for payroll systems like ADP.


Founded

2016

HQ

United StatesNew York City, NY

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$800M (Mar 2022)

Connecteam Valuation

Connecteam is currently valued at $800M, based on its Series C in March 2022.

The $120M round was led by Insight Partners and Stripes, with participation from O.G. Venture Partners, Tiger Global and Qumra Capital.

Connecteam valuation by funding round

Connecteam valuation by funding round
DateStageValuation
Mar 2022Series C$800M

Connecteam Funding History

Connecteam has raised a total of $158M across 3 funding rounds.

Connecteam's first fundraising round was a $1M seed round in March 2016. The most recent completed round was a $120M Series C in March 2022.

Connecteam funding rounds

Connecteam funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2022Series CInsight Partners (lead); Stripes (lead); O.G. Venture Partners; Tiger Global; Qumra Capital$120M$800MConnecteam is an all-in-one employee management platform designed for deskless and frontline teams, offering tools for communication, scheduling, task management, onboarding, compliance, and operations across industries in over 80 countries. As of February 2022, it served over 20,000 companies with 500,000+ daily active users and had 173 employees. The company achieved 400% year-over-year growth in both customers and revenue leading up to the round. Traction metrics as of early 2022 included rapid scaling to serve teams of 5 to 25,000 employees across 200+ industries. On March 2, 2022 (or February 2022 per company media kit), Connecteam raised $120 million in a Series C round led by Insight Partners and Stripes, with participation from O.G. Venture Partners (also listed as O.G. Tech), Qumra Capital, and Tiger Global Management. This brought total funding to $160 million, including a prior $37 million Series B in April 2021 and $3 million from 2016-2018. The funds were intended to accelerate product development, enhance features for user experience, expand internationally, and strengthen customer support infrastructure. Connecteam positions itself to empower managers of businesses from small teams to large enterprises with simple, no-training-required tools to streamline daily operations and boost workforce engagement.
Apr 2021Series BAvishai Abrahami (lead); Insight Partners (lead); O.G. Venture Partners (lead)$37M-Connecteam is an all-in-one employee management app founded in 2016 that serves deskless workers across more than 80 countries. The platform provides HR tools, communications services, scheduling, virtual time cards, training, and operational management features designed specifically for frontline and non-desk employees. The company addresses a market gap where deskless jobs comprise approximately 80 percent of the workforce, yet most workplace technology has historically been built for office workers. In April 2021, Connecteam closed a $37 million Series B funding round led by Insight Partners, O.G. Tech, and Wix's leadership team. The company planned to use the capital to accelerate product development, expand its R&D team by over 300 percent, improve the end-user experience, and scale localization and language offerings across global markets. At the time of the Series B announcement, Connecteam reported significant traction with over 150,000 active users and more than 20,000 customers. The company demonstrated rapid growth, having achieved 400 percent customer growth in 2020 and expanded its team by 300 percent that same year. Notable customers included SodaStream, Sodexo, Saint Gobain, and Berry Global. The company's performance and market opportunity attracted continued investor confidence, with the firm subsequently raising a $120 million Series C round led by Stripes and Insight Partners in March 2022 at an $800 million-plus valuation.
Mar 2016SeedD5 Capital; ICONYC labs$1M--

Who has invested in Connecteam?

8 investors have backed Connecteam across its funding rounds, including Insight Partners, O.G. Venture Partners, Tiger Global, Stripes, Qumra Capital and Avishai Abrahami.

Lead investors include Insight Partners, Stripes, Avishai Abrahami and O.G. Venture Partners.


Connecteam Investors

Investors in Connecteam by funding rounds participated
InvestorHQRoundsRoleFirst check
O.G. Venture PartnersGermanyMunich2LeadApr 2021
Insight PartnersUnited StatesNew York City, NY2LeadApr 2021
D5 CapitalUnited KingdomLondon1ParticipantMar 2016
Avishai AbrahamiUnited StatesNew York City, NY1LeadApr 2021
Tiger GlobalUnited StatesNew York City, NY1ParticipantMar 2022
Qumra CapitalIsraelTel Aviv1ParticipantMar 2022

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Connecteam Competitors

Connecteam competitors include listed companies like Teamshares and Freee, and private ones like Buk, Juicebox, Wrapbook and Fountain.

Public and private companies comparable to Connecteam
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BukChileSantiagoPrivate--$850M-
JuiceboxUnited StatesSan Francisco, CAPrivate--$850M-
WrapbookUnited StatesNew York City, NYPrivate--$750M-
FountainUnited StatesSan Francisco, CAPrivate--$950M-
TeamsharesUnited StatesUnited StatesPublicly listed$472M($23M)$545M1.4x
FreeeJapanJapanPublicly listed$214M$6M$1.5B4.8x

Connecteam Public Comps

Connecteam is still privately-owned, but its public comps include Teamshares, Nordtech Group, AdvancedAdvT, Beisen Holding, Zaggle Prepaid Ocean, Asure Software, DHI Group, TON Strategy, Freee and ATOSS Software.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Teamshares$472M($23M)1.7x1.4x(35.0x)33.2x
Nordtech Group$72M$15M5.1x-25.2x-
AdvancedAdvT$72M$13M2.5x2.4x14.1x8.9x
Beisen Holding$165M$2M0.3x0.3x22.3x5.2x
Zaggle Prepaid Ocean$199M$20M1.0x1.0x10.4x10.7x
Asure Software$141M$20M2.1x1.9x15.2x8.0x
DHI Group$128M$2M2.0x2.0x108.0x7.8x
TON Strategy$13M($148M)11.0x11.0x(1.0x)-

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Common questions about Connecteam

When was Connecteam founded?Connecteam was founded in 2016.
Where is Connecteam headquartered?Connecteam is headquartered in New York City, NY, United States.
Is Connecteam publicly listed?No, Connecteam is a private, VC-backed company.
What is Connecteam's valuation?Connecteam was last valued at $800M in its Series C in March 2022.
How much funding has Connecteam raised?Connecteam has raised $158M across 3 funding rounds.
What was Connecteam's last funding round?Connecteam's last funding round was a $120M Series C in March 2022, led by Insight Partners and Stripes.
Who are Connecteam's investors?Connecteam's investors include O.G. Venture Partners, Insight Partners, D5 Capital, Avishai Abrahami, Tiger Global, Qumra Capital, ICONYC labs and Stripes.
Which companies are comparable to Connecteam?Companies comparable to Connecteam include Buk, Juicebox, Wrapbook, Fountain, Teamshares and Freee.

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