Envoy raises $111m in Series C financing to help companies navigate COVID-19
Envoy, the workplace platform that helps companies reopen safe and flexible workplaces, secured $111m in Series C funding led by Brookfield Growth, with participation from existing investors Menlo Ventures, Andreessen Horowitz, Initialized Capital, Haystack, and new investors BAM Elevate, Seven Seven Six, Triple Point Capital, Elad Gil, and others. This latest funding round brings the company’s valuation to $1.4bn.
With the investment, Envoy plans to fuel growth and innovation as it continues to create connected workplaces that people love. Envoy will accelerate hiring across its engineering, product, and design teams to meet an increasing worldwide demand. The company will continue to invest in keeping agile and delivering solutions in real-time as COVID and hybrid work evolve.
Envoy’s workplace platform is built to solve the problems of flexible workplaces where teams split their time between home and the office. It streamlines for companies and their employees the day-to-day processes that can get in the way of great work and community building. People can coordinate schedules with co-workers, book desks and rooms, welcome visitors, receive deliveries, verify COVID vaccination and test result status, and more.
Despite the pandemic, Envoy’s growth – in product usage and revenue – has increased dramatically. In the last 12 months, Envoy has added more new revenue than in 2019 and 2020 combined. New employee-focused products like Envoy Protect, which helps companies safely reopen offices, now account for over half of new revenue. New products also drove a 100x increase in employee mobile engagement. In addition, thousands of customers across all verticals, from startups to multinational enterprises, are leveraging their Envoy data to make critical space decisions as employees return.
“When COVID happened, our customers came to us for help. Many needed to reopen for essential workers, but in a safe way that would help their people feel confident about coming back. They knew we could build something with a really great employee experience that people would want to use,” said Larry Gadea, Founder and CEO of Envoy. “We proved that we’re problem solvers who can be agile, build fast, and outpace everyone else.”