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Danish tech Teamway grabs €1M for using web3 to build member-owned society for product builders

Teamway founders
Image credits: Teamway

Teamway, a Copenhagen-based tech startup, has grabbed €1 million in a pre-seed extension round. The strategic investment round was led by US investor CMT Digital (which invested in Matrixport and Improbable) along with participation from Invested, Jeffrey Haas, prominent Web3-focused angel investor, and the existing investor Dreamcraft Ventures.

Plans token launch this year

The fresh funds will fuel the company’s ability to further develop its platform as a decentralised member-owned society for product builders. With the new funding from an investment firm focused on blockchain technology and the Web3 ecosystem, Teamway will develop its infrastructure and launch its TMW token later this fall. The launch will enable Teamway’s members to earn tokens for their work in Teamway’s society.

Sam Hallene, investor at CMT Digital, added: “Workforce dynamics have changed considerably over the last two years and we believe Teamway’s member-owned society is well-positioned to reshape the employment landscape as they continue to reinvent the way companies interact with freelance teams.”

Søren Nørgaard, Co-founder and CEO at Teamway, believes remote work is the only way forward in a modern society: “As supply and demand gaps for skills have widened, the competition for world-class talent has put pressure on companies to be smarter about how they utilise their workforce and how they source the skills they need. By embracing a remote work setup, you are able to stay competitive on the talent side and work at the speed it takes to be adaptable in an ever-changing market, both when it comes to market tendencies and technological changes.”

Embraces Web3 tech

Teamway was founded in late 2020 by Søren Nørgaard and Kristian Kongsted and launched in 2021 in Copenhagen. Søren Nørgaard has a background from Silicon Valley and Kristian Kongsted most recently worked as a Chief Developer at the national bank of Denmark before founding Teamway.

The idea for Teamway was born during Covid-19 where it became more apparent than ever how important it is to empower an elastic, remote work setup using the potential of Web3.

Utilising Web3 technology, Teamway is able to build the most empowering, member-owned society for product builders. It builds a decentralised, society-led talent platform. Unlike traditional platforms connecting tech talents with companies, Teamway has set out to give power, profit, and perks back to its members, remote product builders, the ones that create the actual value on the platform.

Teamway’s unique solution for companies to hire tech talent and for product builders to secure their next job is built on a vision of creating the best conditions for product builders and companies to collaborate. This is made possible by creating a decentralised society using the capabilities of Web3.

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