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Envoy, a workplace management platform that caters to the burgeoning hybrid workforce, has raised $111 million in a series C round of funding at a $1.4 billion valuation.
The company’s cash injection comes as businesses across industries have had to reevaluate how they operate, with remote working very much the order of the day. Indeed, just yesterday, Facebook’s parent Meta became the latest big-name company to delay its return-to-office plans.
Founded in 2013 initially as a sign-in system for office receptions, Envoy has evolved to solve many of the problems that modern workplaces face, particularly with teams split between the office and remote (e.g. home) working environments. The platform supports schedule coordination for booking desks and rooms, welcoming visitors, receiving deliveries, verifying COVID-19 vaccinations and test results, and more.
The company claims a slew of big-name customers, including Slack, Pinterest, Hulu, Stripe, and Mazda.
Automation is a central component to the Envoy platform, ensuring that the right details are sent to the right people at the right time. For example, if a visitor arrives at reception or a package arrives, the relevant employee can be notified instantly. Workers can also add their expected visitors to Envoy, so other team members can receive alerts about who is arriving and when.
Envoy sports a bunch of integrations out the box, spanning communication, access control, customer support, identity management, security, productivity, and more.
Prior to now, Envoy had raised around $59 million, and with its latest investment the San Francisco-based company is looking to build on its recent growth which it said has helped it add more new revenue in the past 12 months than in the previous two years combined.
Much of this has come down to the Envoy’s decision to shapeshift, molding itself into a product suitable for these times. The company launched Envoy Protect last year to help companies reopen their offices, allowing employees to see who’s working when and where they’ll be working from. It also allows users to set their physical workplace schedule, certify that they are healthy, and sign in when they arrive.
“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,” Envoy founder and CEO Larry Gadea said in a statement. “They knew we could build something with a really great employee experience that people would want to use. We proved that we’re problem solvers who can be agile, build fast, and outpace everyone else.”
Envoy Protect now accounts for more than half of the company’s new revenue.
Envoy is one of many companies to emerge from the pandemic stronger than ever by focusing on what the “future of work” really means. Common components that straddle these platforms are automation, collaboration, and communication — with the cloud serving as the foundation that enables anyone to access the technology from anywhere.
Envoy’s series C round was led by Brookfield Growth, with participation from Menlo Ventures, Andreessen Horowitz, Initialized Capital, Haystack, Bam Elevate, Seven Seven Six, Triple Point Capital, Elad Gil, among others.