Workplace Platform Envoy Nets $111M in Series C Funding

Envoy, which is a workplace platform helping companies reopen safely, announced Tuesday (Jan. 11) that it has secured $111 million in Series C funding, bringing its valuation to $1.4 billion.

The money will go toward more growth and innovation in making connected workplaces. The company plans to boost hiring in its engineering, product and design teams as demand increases.

It also plans to keep “agile and delivering solutions” as things progress with COVID-19 and hybrid work.

The Envoy workplace platform intends to work with flexible workplaces where teams do time both at home and in the office, helping to streamline day-to-day processes that could prove cumbersome toward work and community building.

The tech lets people coordinate schedules, book desks and rooms, welcome visitors, receive deliveries, verify COVID-19 vaccines or tests and other things.

“When COVID happened, our customers came to us for help,” said Larry Gadea, founder and CEO of Envoy. “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. We proved that we’re problem solvers who can be agile, build fast, and outpace everyone else.”

The release says Envoy has seen growth in both product usage and revenue in the last year, thanks to new products like Envoy Protect, which helps companies safely reopen offices. That roduct accounts for half of the new revenue coming in, along with a 100 times increase in employee mobile engagement through new products.

Last August, as the pandemic once again appeared to be slowing down, video conferencing platform Zoom seemed to show signs of a decrease in usage.

Read more: Video Conference Service Zoom Expects Slowdown as Companies Return to Offices

Analysts said the company’s third quarter revenue in 2021 would be around $1.013 billion, a decline from the company’s forecast of $1.015 billion or $1.02 billion.

The company, which saw a meteoric rise in 2020 as everything was hurriedly moved online, saw a decline in 2021 as COVID-19 vaccines got rolled out and more things began to reopen.