Watch the video and read a letter from our founders on why they built Teem and their vision for the future of workplace experience.
When Zach Holmquist, our co-founder and CTO, coded the first version of EventBoard and installed it in the office to solve the acute problem of meeting room conflict, we didn’t fully realize that offices around the world were experiencing the same problems as we were, only to a larger degree. EventBoard started to quickly spread throughout many of the best companies in Silicon Valley, which were using it to solve similar challenges we faced internally. When we started this company three years ago, we were confident that improving workplace productivity and office efficiency was a key to building a happier organization.
Turns out we were right.
I’m proud to say that we’ve now provided a solution to over 2,000 companies worldwide and we’re adding close to 100 customers each month. We are very privileged to count many of the most progressive companies in the world as happy customers. Among these are companies that have raised billions of dollars in venture capital, are among the Fortune 100 best companies to work for, and even the Fortune 100 largest companies in the world, plus some of the top universities in the world.
A constant that we see among our many diverse customers is the ability to embrace change in their workplaces, to provide incredible, frictionless experiences to their employees. They focus on using data to make better workplace decisions, from how many meeting rooms they need, to where they’re located and what technology they should deploy in those rooms. They also desire to make their employees’ lives better and more productive by giving them the tools and technology they need to get their jobs done. There’s little doubt that optimizing the workplace is a key to a higher performing company.
Today, we are embracing one of the biggest changes in our relatively short company history: We are announcing a new brand and name change. The new brand and name more fully represent the vision we’ve always had for our company: to optimize the new digital workplace.
Teem represents the workplace of the future. Great offices are teeming with the best technology. They’re teeming with great people, who are teeming with great ideas for how to make their organizations more successful. We are providing our customers with the tools and the technologies they need to make their meeting experiences better, and the data and insights to make the necessary changes to make their own workplaces highly productive and efficient. Teem is the only platform that brings together and captures the energy and efficiency of the most important elements of a highly productive workplace that fuels both happiness and productivity: the people, the technology they use, and the places they work. Having recently raised another $13.5 m in venture capital from top investors who are perfectly aligned with our vision, we will be able to invest in the right innovations to make this vision a reality. This rebrand is the first step in that process.
Along with a completely revamped management dashboard experience, a brand new mobile experience that integrates with the latest in IoT, as well as an updated insights dashboard, today we unveiled the first-ever public “Workplace Productivity Index,” a monthly report spotlighting current and upcoming trends happening in today’s workplaces, worldwide. In this index, our data shows meetings having fewer attendees. It shows that over 30 percent of scheduled meetings don’t actually take place, and that technology like the Teem platform is helping people reclaim unused workspace. Considering that millennials are now the largest working demographic, it’s never been more important to understand how workflows are changing and being influenced by technology. Eighty percent of millennials cite tech as necessary for a fulfilling work life and 70 percent of workers, in general, report meeting fatigue. It’s clear that how we work is changing and we must learn to adapt with it.
The Teem platform we’ve built will continue to get better, add more robust feature sets, become more integrated and more intelligent. You will see a steady cadence of fantastic product updates and product releases over the next several months that we can’t wait to reveal.
Thank you so much for being a part of our journey so far. This is really just the beginning. We’re so excited about how we’re defining, optimizing and and helping to create the workplace of the future, now.
“Once we put that app out there, it caught on like wildfire,” says our CEO and co-founder Shaun Ritchie. “Turns out other people were having the same problem.
By late 2014, our company, which was named EventBoard at the time, had raised $1.5 million in seed funding from Google Ventures, Zetta Venture Partners, Marc Benioff and others. That was followed by $6.5 million in Series A funding, led by Greycroft Partners with participation from Origin Ventures, Kickstart Seed Fund, Peak Ventures and Zetta Venture Partners. Most recently, we secured $13.5 million in Series B funding, led by Nokia Growth Partners (NGP) with participation from GE Ventures, to drive continued innovation around helping our customer companies maximize their workspaces and enable their employees to work more efficiently.
But funding is only part of the story. Our customers – more than 2,000 of them, from small businesses to Fortune 500 companies – are just as important. In fact, we tend to call them “friends” instead of “customers.” Once we start working with someone, they almost always stick with us, thanks in large part to our outstanding customer service team. Some businesses have been using our product for years because it makes their meetings better, every single day.
In October 2016, we changed our company name from EventBoard to Teem, to reflect our expanded focus on optimizing the digital workplace. We’re no longer confined to developing software for conference room displays, although we’ll continue to improve that flagship product. As Teem, we’ll offer even more employee-focused meeting tools and workplace analytics that bring together people, places and technology. Our future road map includes so many exciting new twists and turns that we get goosebumps thinking about it.