Teemyco raises $3.2 million in a funding round led by 42CAP

SaaS News-Teemyco-raises-$3-2 (source: SaaS Industry)

At a Glance

Teemyco, a virtual office service located in Stockholm, has secured $3.2 million in a fundraising round headed by 42CAP. Teemyco intends to use the capital to expand its personnel, focus on new product development, and expand its sales and marketing efforts. Upstreet, Hack your Closet, eHealthApp, Greenely, and Mr. Lee’s noodles are among its clients.

Teemyco, a Stockholm-based virtual office provider, has raised $3.2 million in a funding round led by 42CAP. Other participants include Antler, Luminer Ventures, and angel investors Mehdi Ghissassi and Sameer Singh via the 2021 Atomico Angel Programme and Keith Richman.  

Teemyco plans to utilize the funds to double its team size, focus on new product development, and increase its sales and marketing operations, according to the company.

Teemyco is a platform for a configurable virtual office space established by Charlotte Ekelund and Oleg Danylenko in late 2019. Companies may utilize the service to put all of their employees in the same (virtual) room and use audio and video technology to communicate with one another ad hoc, without the need for any specific connections. This is not like the conventional office space but a possible similar approach to stimulate cooperation in the face of a “stay at home, save lives” environment.

The service underwent extensive private beta testing during 2020. Its customers include Greenely, Upstreet, Hack your Closet, eHealthApp, and Mr. Lee’s noodles. The platform is now open to the general public, with complete customization possibilities and teams of up to 250 individuals.

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.

Ms. Ekelund, the cofounder of Teemyco

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.

Thomas Wilke, partner at 42CAP
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