WeWork acquires workplace software and analytics leader Teem

We all have those days: You spend hours in meetings, but you can’t remember what you accomplished. Basic challenges like finding the right space at the right time for the right purpose should be simple, but they continue to frustrate employees and workplace designers alike. These everyday challenges we all experience in the office can make the difference between a good day and a bad day.

Enter WeWork and the newest member of the WeWork family—Teem, a leading software and analytics provider that gives enterprises the tools, data, insights, and analytics to help them optimize their spaces and unleash their team’s potential. In other words, analytics and software to help us have better meetings and more productive days.

At WeWork, we understand the power of technology to connect space with people, whether we’re serving members in WeWork locations or supporting Powered by We clients in their spaces. Our focus has always been to create a workplace that improves productivity, encourages collaboration, and ultimately creates an engaging environment that makes people excited to come to work each day. And as we continue to evolve as a global company—rapidly expanding and diversifying our membership base—so too must our technology.

That’s why we are excited to announce WeWork is acquiring Teem, a leading software platform that helps more than 2,800 customers and millions of people better utilize space and employees be more productive through advanced meeting tools (including conference room scheduling and desk reservations), detailed workplace analytics (such as tools to pinpoint underutilized space), and ways to welcome and manage visitors.

“Acquiring Teem means bringing in a talented group of over 100 people to help us create a better, more efficient workplace experience for enterprises around the globe,” said Shiva Rajaraman, WeWork’s chief product officer. “We are committed to helping companies deliver an amazing employee experience everyday and everywhere. Teem moves us one step closer to that reality, and we are thrilled to welcome them into our WeWork family.”

Founded in 2012 by Shaun Ritchie, Zach Holmquist and Dan Caffee, the Salt Lake City-based Teem serves customers ranging from small businesses to corporations like AirBnB, Dropbox, and GE. Its platform has been integrated into many of today’s largest office products, including Office 365, Google, and Slack. Teem will continue to operate as an independent business line, serving its current customers, while now also providing its services as part of a broader package of WeWork offerings to enterprises and Powered by We clients.

“Teem has always had one goal in mind: to create an amazing workplace experience by eliminating hurdles to office productivity,” said Shaun Ritchie, Teem’s co-founder and CEO. “Through employee-focused technology solutions and analytics that bridge the physical and digital, we help companies recognize the reality of a great workplace. In joining WeWork, we have found a true partner to support our continued growth and scale as we look to serve many more enterprises around the globe.”

Launched early in 2018, Powered by We extends WeWork beyond the walls of our buildings to bring our design, technology, and member services expertise to spaces belonging to large companies around the globe. With more than 30 Powered by We projects already in the pipeline, Powered by We is a natural outgrowth of WeWork’s enterprise offering for companies with more than 1,000 employees.

WeWork began serving large companies in earnest in 2016. Now, more than 1,000 enterprises are WeWork members, including GE and Microsoft, and these enterprises represent more than 25 percent of WeWork’s total membership base. Acquiring Teem will allow WeWork to better serve all enterprises, whether or not they are current WeWork members. Teem’s space optimization solutions are universally beneficial for improving productivity, no matter an organization’s physical footprint.

“At GE, we see technology as a tool to help bring our employees together, making our teams more productive and allowing them to focus on what matters most.” said Jeff Monaco, CTO of digital workplace technology at GE. “Teem’s suite of workplace software tools helps make our day-to-day more seamless so our employees can focus on innovating new projects, not trying to find a conference room. Bringing their platforms together with WeWork’s ability to increase connectivity and community across industries and markets creates an exciting opportunity for future workplace innovations.”