Teem

About Teem

Teem, now part of Eptura, operates as a workplace management solutions provider, focusing on software that optimizes office space and enhances employee productivity. Originally founded as EventBoard in 2012 by Shaun Ritchie, Zach Holmquist, and Dan Caffee, the company initially developed an application for scheduling and organizing office meetings. Recognizing the need for a broader brand identity to match their expanding vision of cloud-based work solutions, the founders rebranded from EventBoard.io to Teem.com. This strategic move preceded significant growth and investor interest.

The Salt Lake City-based company secured just under $20 million in two funding rounds from investors including Origin Ventures, Greycroft, and GE Ventures, which fueled its expansion. Teem's journey includes two major acquisitions. In September 2018, WeWork acquired Teem for approximately $100 million in cash, integrating its software into the "Powered by We" offerings aimed at enterprise clients. Later, in January 2020, iOFFICE (which subsequently merged with others to form Eptura) acquired Teem from WeWork. This series of acquisitions placed Teem within Eptura's extensive portfolio of worktech solutions.

Teem's business model is centered on a subscription-based software-as-a-service (SaaS) platform. It generates revenue by charging clients, which range from small businesses to large enterprises like Airbnb, Dropbox, and GE, on a per-desk, per-room, or per-lobby basis. The platform is designed for facility managers, real estate executives, and office administrators, offering a suite of tools to manage the modern hybrid workplace.

The core product is a comprehensive software platform that provides tools for desk and meeting room booking, visitor management, space planning, and detailed workplace analytics. Key features include interactive floor plans, wayfinding, reservation check-ins, and integrations with common office tools like Office 365, Google, and Slack. By capturing and analyzing real-time data on space utilization, the system provides insights that help organizations optimize their real estate, identify underused areas, and improve the overall employee experience. The platform also offers solutions for automating maintenance schedules and managing assets throughout their lifecycle, positioning itself as a centralized system for efficient workplace operations.