Teemyco raises $3.2m for its virtual office spaces

4 Jun 2021

Charlotte Ekelund and Oleg Danylenko. Image: Teemyco

The Swedish start-up plans to invest in further developing its platform for creating online office spaces for companies with dispersed teams.

Teemyco, a start-up from Sweden, has raised $3.2m to further develop its virtual office platform for remote teams.

The Stockholm-based start-up develops a virtual office space for dispersed employees to meet through voice and video connections.

The round was led by German firm 42CAP, with participation from Antler and Luminar Ventures. High-profile angel investors including DeepMind’s head of product Mehdi Ghissassi and Voi co-founder Keith Richman also invested.

The company raised $1m in an initial seed funding round last year.

Teemyco was founded in late 2019 and quickly saw demand for its product increase when the pandemic took hold. It targets its product at companies with 250 people and has opened a waitlist for enterprise customers down the line. It is active in 70 countries and some of its clients include Greenely, Upstreet and eHealthApp.

“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,” chief executive Charlotte Ekelund said.

The start-up plans to invest the funds in refining the product with new features, such as allowing companies to customise their virtual office space created on Teemyco.

“With this new design we add further customisation opportunities. Users want it to be their branded office, not the Teemyco software,” she added. Ekelund co-founded the start-up with Oleg Danylenko.

The start-up intends to double the size of the team in functions like product development and sales and marketing.

“We see Teemyco as the natural player in the hybrid work-from-anywhere future that awaits companies once the pandemic calms down,” Thomas Wilke, partner at lead investor 42CAP, said.

“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.”

Jonathan Keane is a freelance business and technology journalist based in Dublin