Despite lockdowns, mask mandates and the shift to remote work, office management platform Envoy is thriving.
In the last 12 months, the San Francisco-based startup has added more new revenue than in 2019 and 2020 combined, according to the company. Now, in the wake of its remarkable growth, Envoy is receiving a fresh investment to continue the course.
“It’s because businesses are relentless about returning and they need all the help they can get to rebuild community,” Larry Gadea, founder and CEO of Envoy, said in a company blog post. “The workplace inherently brings people together and reminds them of purpose outside of just themselves and their own desires. It allows companies to unify folks under a common mission, vision and culture.”
The newly minted unicorn announced Tuesday that it raised $111 million in a Series C round at a stunning $1.4 billion valuation. The latest raise, led by Brookfield Growth, is Envoy’s first since it grabbed $30 million in a funding round back in May of 2020.
“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,” Gadea said in a statement. “We proved that we’re problem solvers who can be agile, build fast and outpace everyone else.”
Envoy, founded in 2013, initially set out with a mission to eliminate inefficient front desk management practices. The company’s premiere product offering, Envoy Visitors, uses smart home tech to check-in office guests.
Since then, the company has launched two new features, Envoy Protect and Envoy Rooms. Between the two, office managers can handle a range of tasks from coordinating schedules and booking meeting rooms to monitoring capacity, receiving deliveries and verifying vaccination status.
The platform’s new capabilities have proven to be popular with Envoy’s customers. The company saw a 100x increase in employee mobile engagement after their launch, according to Envoy.
“I always knew our company had the DNA to build non-stop, but it was wonderful to see it in full action, even during such an unexpected time as a global pandemic,” Gadea continued.
Envoy’s platform has been deployed across 14,000 locations around the world, including at companies like Slack, Pinterest and Warby Parker.
“Whether the pandemic keeps going on or not, it doesn’t matter, we won’t stop. This is our promise to our customers and end-users,” Gadea said. “By using our products within your workplaces you’re investing in the future of work.”
Following the latest raise, Envoy plans to continue expanding its business with a heavy focus on hiring. The company is currently on the lookout for 53 fresh faces to join its marketing, people, sales and engineering teams, to name a few.
Envoy has raised $170.2 million in venture capital financing to date, according to Crunchbase.
Additional investors Menlo Ventures, Andreessen Horowitz and Initialized Capital participated in the raise.
