CNBC Disruptor 50

50. Envoy

Founder: Larry Gadea (CEO)
Launched: 2013
Headquarters: San Francisco
Funding:
$155 million
Valuation: $1.4 billion
Key technologies:
Cloud computing, Internet of Things, machine learning, no code/low code software
Industry:
Enterprise technology
Previous appearances on Disruptor 50 List: 0

Persephone Kavallines

The Covid-19 pandemic has turned the world of work upside down.

Gone is the office-based 9-to-5 for most workers, largely replaced by some sort of hybrid accommodation. Whereas 60% of workers were based fully on-site in 2019, just 23% expect that will be the case in 2022 and beyond, according to a poll by Gallup. Comparatively, 32% said they were hybrid in 2019, while 53% anticipate that in the future.

Increased flexibility is what workers are now expecting from their employees, with a majority polled saying they prefer hybrid work — only 9% prefer to be back in the office full-time.

Making sure that employees are excited to return to offices when asked is the goal of workplace platform Envoy. Founded in 2013, well before the pandemic, Envoy's original mission was focused around solving inefficiencies in front desk management, such as the iPads that visitors used to sign in. But as Covid spread, Envoy quickly shifted to products that helped its thousands of clients with 14,000 office locations across more than 100 countries welcome workers back safely.

As more workers return to offices, Envoy has leaned into solving the problems that come with flexible workspaces: Letting workers know who else is coming to the office and when. Workspace reservations that are flexible based on what kind of work they'll be doing. The ability to reserve a parking spot, conference room, or even order lunch. Envoy's tools also allow workplace administrators to manage office capacity, observe social distancing requirements and desires, ensuring that everyone has the room or space they need to work effectively.

The push to get workers back in the way they want has been a boon for Envoy's funding and bottom line.

Envoy closed a $111 million Series C funding round in January that brought its valuation to $1.4 billion. That round was led by Brookfield Growth, the venture arm of the multi-billion-dollar asset manager that is also one of the largest real estate owners and operators in the world. Other investors include Menlo Ventures, Andreessen Horowitz, and Initialized Capital.

It also has added more new revenue in the last 12 months than in 2019 and 2020 combined. Customers include companies like Slack, Stripe, Lululemon, Mazda, and Warby Parker.

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