Total amount raised
$384.1 Millions
Latest funding date
6/1/2021
Location
monday.com has successfully raised significant funding through multiple rounds, attracting notable investors such as Zoom and Salesforce Ventures. The platform offers a versatile work operating system that empowers organizations to streamline workflows and enhance team collaboration.
Keep reading to explore the intricacies of monday.com's fundraising journey and the investors backing this innovative platform.
What Is monday.com?
Founded on February 1, 2012, in Tel Aviv, Israel, monday.com is a work operating system designed to streamline workflows and enhance team collaboration. The platform offers a range of tools for project management, CRM, software development, and service operations.
monday.com was founded by Eran Kampf, Eran Zinman, and Roy Mann. The company has grown significantly since its inception, now employing between 1001 and 5000 people.
With its customizable platform, monday.com empowers organizations to create processes that connect people to systems, fostering transparency and efficiency in business operations.
How Much Funding Has monday.com Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: August 2012
- Lead Investors: Entrée Capital, Genesis Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the business model.
- Series A
- Amount Raised: $7.6M
- Date: December 2015
- Lead Investors: Entrée Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $25M
- Date: April 2017
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series C
- Amount Raised: $50M
- Date: July 2018
- Lead Investors: Stripes
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve platform integrations.
- Series D
- Amount Raised: $150M
- Date: July 2019
- Lead Investors: Sapphire Ventures
- Valuation at Round: $1.9B
- Motivation Behind the Round: To accelerate growth, scale international operations, and develop further platform integrations.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: May 2020
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Post-IPO Equity
- Amount Raised: $150M
- Date: June 2021
- Lead Investors: Salesforce Ventures, Zoom
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform's capabilities and market reach.
Total Amount Raised: $384.1M. Current Valuation: $1.9B.
Key Investors
- Zoom
- Details: Zoom is a leading video communications company known for its easy-to-use platform for video conferencing, webinars, and online meetings. Founded in 2011, it has become a staple for remote work and virtual collaboration.
- Investment Focus Areas: Video communications, collaboration tools, remote work technologies.
- Notable Investments: Not publicly disclosed.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. It aims to accelerate the growth of the next generation of enterprise technology.
- Investment Focus Areas: Enterprise cloud, CRM, SaaS, artificial intelligence, big data.
- Notable Investments: Dropbox, DocuSign, Twilio.
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. It has a strong track record of helping companies scale and achieve market leadership.
- Investment Focus Areas: Enterprise technology, consumer technology, growth-stage companies.
- Notable Investments: LinkedIn, Box, Square, Fitbit.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in high-growth technology and software companies. Founded in 1995, it has a portfolio of over 400 companies.
- Investment Focus Areas: Software, internet, data, and technology-enabled services.
- Notable Investments: Shopify, Twitter, Qualtrics.
- Stripes
- Details: Stripes is a growth equity firm that invests in software and consumer businesses. It focuses on partnering with market leaders and helping them scale.
- Investment Focus Areas: Software, consumer products, healthcare technology.
- Notable Investments: Reformation, Udemy, Snyk.
What's Next for monday.com?
monday.com stands at the cusp of significant growth opportunities. With plans to expand its geographical reach and integrate more cloud applications, the platform is poised to cater to a broader audience. The introduction of a free usage tier and the potential for an IPO further highlight the company's ambitious roadmap.
However, the journey ahead is not without challenges. The competitive landscape, featuring players like Airtable and Asana, demands continuous innovation. Balancing rapid growth while maintaining product quality and customer satisfaction will be crucial as monday.com navigates its path forward.
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