With seed + speed Ventures, the venture capital fund of the German investor Carsten Maschmeyer and the investment vehicle 8eyes led by Runtastic founder Florian Geschwandtner, the 25-person team at TeamEcho succeeded in attracting two of the most well-known investors in German-speaking Europe. The Upper Austrian HightechFonds, a venture capital fund of the Federal Province of Upper Austria and the Upper Austrian banks, as well as Austria Wirtschaftsservice (AWS), the funding bank of the federal government, also participated in this round of financing. In addition, the existing shareholders from the previous primeCROWD round took part in the capital-raising measure as well.
The company offers an intelligent, anonymous employee feedback solution in the form of an ongoing mood barometer. In this way, an up-to-date view of the working atmosphere is available at any time, making it easy to identify potential and emerging problems as they arise. The fresh capital will be used to further develop the platform and to help push ahead with the expansion path in the DACH region.
"Our feedback solution offers companies a real-time overview of challenges, as well as opportunities in the team, and creates a space to jointly develop solutions", says David Schellander, Co-Founder and Co-Managing Director of TeamEcho. This is particularly crucial in times of the hybrid office and the like. Customers such as Magenta, Dynatrace, Herold and the University of Vienna assistTeamEcho in creating a working environment in which every employee can unfold his or her full potential.
The latest round of financing is the second successful financing round for the 25-person team. In 2019, the company secured an investment of € 310,000 from primeCROWD, Austria's largest startup investor network.
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