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Israel-based Connecteam Secures $120 million in Series C

Israel-based Connecteam Secures $120 million in Series C

The funding will be used to scale its global operations, triple the size of its team, and expand both R&D and also marketing

Tel Aviv-based Connecteam has announced that it has secured $120 million in Series C. The round was co-led by co-led by Stripes, and Insight Partners, with participation from Tiger Global, Qumra Capital, and Eyal Ofer’s O.G. Tech.

The round has brought total funding up to $160 million. Connecteam intends to use the funding to scale its global operations, triple the size of its team, and expand both R&D and also marketing.

The company intends to use the funds to scale its global operations, triple the size of its team, and expand both research and development and marketing to help businesses around the world manage and engage their deskless workers.

"There is such strong demand for the functionality Connecteam provides to help manage deskless workers. They saw 400% growth in both revenue and customers last year and are poised to accelerate their expansion with this new round of funding," said Jeff Horing at Insight Partners.

Connecteam has over 20,000 customers in 80 countries and is led by Amir Nehemia, CEO and Co-Founder. The company helps companies of all sizes from Fortune 500 firms to small mom-and-pop stores. Their app has features for tracking time and attendance (including time off), communications, learning and training, employee recognition, and more, and is designed to help manage the more than 2.7 billion workers or 80% of the global workforce that are not tied to a desk.


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