The pandemic has forced the adoption of new ways of working. As digital everything is becoming the norm, virtual work is no exception. Several organisations are experimenting with virtual working, however, addressing people’s need for connection and belonging still remains a pain area.
Here’s where Teemyco, an online virtual office startup, comes into play.
The Swedish startup aims to create a strong virtual culture by reproducing office interactions in a virtual environment. Through this platform, you can move from one room to another just like the physical office.
Funding & investors
The Stockholm-based startup raised $3.2M (approx €2.6M) funding led by German seed fund 42CAP.
Other investors including, Antler, Luminar Ventures, and numerous high profile angel investors; Mehdi Ghissassi (Head of Product, DeepMind) and Sameer Singh (Creator of Breadcrumb.vc), and Keith Richman (Co-Founder of Voi & Partner at 31 Atlantic), also participated.
The funding will be used to double the size of the team, focus on further product development, and scale the sales and marketing efforts. To date, the company has raised $4M (approx €3.3M)
Based out of Munich, 42CAP is a seed-stage investment firm that invests €0.5 to €1.5M in seed-stage tech- and data-driven companies across Europe with global ambition
Bridging the virtual and real world
Founded by Charlotte Ekelund and Oleg Danylenko in 2019, Teemyco creates online offices to bridge the virtual and real world.
The platform has a virtual space where co-workers co-exist in rooms or sit by the same virtual table, using voice and video technology to interact.
Due to the pandemic, the Swedish company has experienced a spike in demand for its service.
How did it start?
The Teemyco idea was born in September 2019, when the founders met through the early stage VC startup generator Antler, in Stockholm.
The duo had experienced the challenges of working in physically distributed teams and shared the opinion that all teams, including the ones who weren’t sharing a physical space, should get the chance to share an office.
And that’s how Teemyco was conceived. According to the founders, most of the team members at Teemyco have only ever met in their virtual office, as they are spread out across multiple countries.
New updates and features
Notably, the company is set to release its product to teams of 250 people with a revamped experience, allowing customers to furnish and brand their own online office.
To date, the company has worked with tech companies across 70 countries including, Greenely, Upstreet, Hack your Closet, eHealthApp, and Mr. Lee’s noodles.
According to the company, the service has seen a rapid growth of active users spending on average 7.5 hours per day on the service during weekdays. Also, enterprises are showing increasing interest and can currently sign up on the enterprise waiting list.
“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 adhoc. With this new design, we add further customisation opportunities. Users want it to be their branded office, not the Teemyco software,” says co-founder and CEO Charlotte Ekelund.