Teamway raises funding to build a member-owned society for product builders using Web3

Copenhagen-based Teamway raises €1M pre-seed extension round led by US-based CMT Digital alongside Invested, Jeffrey Haas, and existing investor Dreamcraft Ventures. This funding round will further boost the company’s ability to develop its decentralised, member-owned platform for product builders.

Members-led talent platform

According to Teamway, it aims to give power, profit, and perks back to its members, remote product builders who create the actual value on the platform, unlike the traditional platforms that connect tech talents with companies. With the new funding on board, Teamway is en route to developing its infrastructure and launching its TMW token later this fall.

Sam Hallene, an investor at CMT Digital, says, “Workforce dynamics have changed considerably over the last two years, and we believe Teamway’s member-owned society is well-positioned to reshape the employment landscape as they continue to reinvent the way companies interact with freelance teams.”

Staying relevant in changing scenarios

Working scenarios have been constantly changing, especially in this day and age. This is where Teamway comes in, which provides a unique solution for companies to hire tech talent and for product builders to secure their next job. It is built on creating the best conditions for product builders and companies to collaborate, which is made possible by creating a decentralised society using the capabilities of Web3.

Teamway will be able to develop their product in the open, in co-creation with their community, thanks to Web3’s capabilities. Various future product enhancements will emerge from this kind of collaborative production.

Søren Nørgaard, Co-founder and CEO at Teamway, says, “As supply and demand gaps for skills have widened, the competition for world-class talent has put pressure on companies to be smarter about how they utilise their workforce and how they source the skills they need. By embracing a remote work setup, you are able to stay competitive on the talent side and work at the speed it takes to be adaptable in an ever-changing market, both when it comes to market tendencies and technological changes.”

About Teamway

Founded in late 2020 by Søren Nørgaard and Kristian Kongsted, Teamway and launched in 2021. The idea for Teamway arose during the pandemic, when the need to empower an elastic, remote work setup using the potential of Web3 became more apparent than ever. Søren Nørgaard has a background in Silicon Valley, and Kristian Kongsted most recently worked as a Chief Developer at the National Bank of Denmark before founding Teamway.