A depiction of Teem’s EventBoard product Teem

Co-working firm WeWork has now made what counts as its fourth acquisition for this year and its 3rd largest purchase since its start with a snap up of Utah based enterprise software maker Teem for a reported $100 million in cash making it the newest member of the WeWork family and product suite.

Teem, a leading software and analytics provider provides enterprises with tools, data, analytics and insights for optimization of spaces and maximization of team potential counting as a notable addition to WeWork focused on the co-working market with aims of providing better meetings and more productive days for members of its service.

Through an understanding of the harness of technology in enhancing the workplace for members of its WeWork locations and its enterprise focused Powered by We service, WeWork’s focus is for a workplace environment which improves productivity, collaboration and the ultimate creation of an exciting environment.

A depiction of Teem’s Flightboard product Teem

Teem currently provides its service for over 2,800 customers including the likes of General Electric, Airbnb, Dropbox, Starbucks, Viacom, LinkedIn, Github and several others spanning millions of people in total applying its software for better utilization of space and boost of productivity.

It offers advanced meeting tools (including conference room scheduling and desk reservations), detailed workplace analytics (including tools to pinpoint underutilized space), and methods to welcome and manage visitors among its product ecosystem.

A depiction of Teem’s LobbyConnect product Teem

Based out of Salt Lake City, Utah, Teem raised $21.5 million across 3 rounds with notable backers including Greycroft, Origin Ventures, NGP Capital and GE Ventures.

“Acquiring Teem means bringing in a talented group of over 100 people to help us create a better, more efficient workplace experience for enterprises around the globe,” said Shiva Rajaraman, WeWork’s chief product officer. “We are committed to helping companies deliver an amazing employee experience everyday and everywhere. Teem moves us one step closer to that reality, and we are thrilled to welcome them into our WeWork family.”

Teem CEO and co-founder Shaun Ritchie Teem

“Teem has always had one goal in mind: to create an amazing workplace experience by eliminating hurdles to office productivity,” said Shaun Ritchie, Teem’s co-founder and CEO. “Through employee-focused technology solutions and analytics that bridge the physical and digital, we help companies recognize the reality of a great workplace. In joining WeWork, we have found a true partner to support our continued growth and scale as we look to serve many more enterprises around the globe.”

With WeWork now counting top tier enterprises as major customers accounting for over 25% of its total membership count, Teem stands as a good addition to its ecosystem as it aims to continually improve its service for its users.

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print