Company raises $8 million investment from GC Capital, KIC
SAN FRANCISCO, UNITED STATES, September 19, 2019 /EINPresswire.com/ — Workplace collaboration startup Team Labs announced its Series A today of USD $8 million. This follows an earlier announcement of a pre-Series A round that has now been consolidated into the current round.
Team Labs will use the capital to scale in a few key areas, including:
Expanding into the Asia-Pacific region to bring cloud-based collaboration software to teams, including Japan and South Korea
Building the Team Labs Workspace applications, and fleshing out many features that can benefit smaller and larger teams alike
Growing its global team and hiring talent from every potential and current market and region
Expanding in Asia-Pacific
A massive workplace culture shift has been driving the adoption of collaboration tools in offices everywhere, and the growth has been exploding. The market is expected to surpass USD $3.2 billion by 2021. The opportunity for new and established businesses to boost their productivity with such tools is immense.
To make this opportunity into a reality, Team Labs is gearing up to expand into the major markets of East and South Asia. Aside from officially supporting new regional languages like Japanese, Korean, Mandarin and Hindi natively, the company is also growing its team in these markets to serve the needs of each region better.
“We place a high value on being able to effectively serve each customer,” said Team Labs CPO Stephanie Woo. “By having engineers and sales teams that can understand and empathize with the needs of each customer on a local level, we can tailor our products according to the needs of each team and make working together simple and easy inside and between teams everywhere.”
Building the Team Labs platform
Traditional collaboration ends at just chat or file-sharing. Team Labs is creating a robust platform that is an all-in-one solution for most teams’ coding, planning, creating and executing needs.
With an entire product dedicated to a core function of a team, the Team Labs Workspace is being built into a feature-rich platform. To accomplish this, the company is working on:
Argon, the project management app that is a part of the core Workspace platform currently in closed alpha testing;
Deepening integrations, with strategic partnerships with apps and services that are commonly used in the workplace
Expanding features, which will improve the functionality of the existing products and help teams collaborate better by removing hurdles
Leaving beta, with stable versions of the Workspace apps for an easier working experience
On top of this, Team Labs is moving to solve other problems teams face in the workplace, from customer service to human resources and beyond. The company has deployed over 500 new builds of its apps over the past year.
Today, Team Labs is working with teams at leading businesses like Uber and PayPal to empower employees with tools that redefine the way teams work. Despite a continued focus on enterprise teams, the company is starting to onboard smaller teams and individual testers to build a platform that anyone can use.
Grand Canyon Capital (GC Capital), a returning investor, led the Series A round, alongside KIC.
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Source: EIN Presswire