Teamshares Receives $124 Million Investment

Teamshares Inc. announced a $124 million investment. Note for the series D investment round. It was led by QED Investors co-founder Frank Rotman. The round included significant participation from existing investors Inspired Capital, Khosla Ventures, Slow Ventures, Spark Capital and Union Square Ventures. QED invested in back-to-back growth rounds as the company launched its neobank and began developing recharge cards and insurance products for Teamshares' network of employee-owned businesses. The Series D funding helped Teamshares further scale its model nationally and accelerate product development.

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Teamshares

Teamshares is an employee ownership platform for small businesses led by custom software, training and financial products. Its mission is to create $10 billion in new wealth for employees through share ownership. The company buys traditional small businesses from their retiring owners, making them 80 per cent employee-owned within 20 years. And it provides companies with new leadership, financial education, equity management software and financial products. The companies will be permanently owned by employee shareholders and Teamsharees and will never have to be sold again. Teamshares grew from 4 companies generating $10 million in revenue in January 2021 to 84 companies generating over $400 million in revenue by July 2023. It created 2,100 new employees in 29 states and 42 industries. Founded in 2019, the company has 140 employees in the US and Canada.