Total amount raised
$384.1 Million
Latest funding date
6/1/2021
Location
monday.com has successfully raised funds through seven distinct funding rounds, with notable investors including Zoom and Salesforce Ventures. The latest funding was secured through a Post-IPO Equity round.
Keep reading to explore the intricacies of monday.com's fundraising journey and the investors backing this innovative platform.
What Is monday.com?
monday.com is a versatile work operating system headquartered in Tel Aviv, Israel. It serves various industries, including collaboration, CRM, developer tools, marketing, project management, SaaS, and task management.
Founded by Roy Mann and Eran Zinman, the company has grown significantly, now employing between 1001 and 5000 people. monday.com is publicly traded on NASDAQ under the ticker MNDY and is known for its AI-powered platform that enhances productivity and streamlines business operations.
How Much Funding Has monday.com Raised?
- Seed Round
- Amount Raised: USD 1,500,000
- Date: August 2012
- Lead Investors: Entrée Capital, Genesis Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need.
- Series A
- Amount Raised: USD 7,600,000
- 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: USD 25,000,000
- Date: April 2017
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance marketing efforts.
- Series C
- Amount Raised: USD 50,000,000
- Date: July 2018
- Lead Investors: Stripes
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand globally and improve platform features.
- Series D
- Amount Raised: USD 150,000,000
- Date: July 2019
- Lead Investors: Sapphire Ventures
- Valuation at Round: USD 1.9 billion
- Motivation Behind the Round: To accelerate growth, scale international operations, and enhance platform integrations.
- Secondary Market
- 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: USD 150,000,000
- Date: June 2021
- Lead Investors: Salesforce Ventures, Zoom
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand product offerings and market reach.
Total Amount Raised: USD 384,100,000. Current Valuation: USD 1.9 billion.
Key Investors
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They participated in the Post-IPO Equity funding round for monday.com.
- Investment Focus Areas: Cloud computing, enterprise software, artificial intelligence.
- Notable Investments: Box, DocuSign, Twilio.
- Zoom
- Details: Zoom is a leading video communications platform that has also ventured into strategic investments. They participated in the Post-IPO Equity funding round for monday.com.
- Investment Focus Areas: Video communications, collaboration tools, cloud services.
- Notable Investments: Not publicly disclosed.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in high-growth technology and software companies. They have been involved in multiple funding rounds for monday.com.
- Investment Focus Areas: Software, internet, data services.
- Notable Investments: Shopify, Twitter, Qualtrics.
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. They led the Series D funding round for monday.com.
- Investment Focus Areas: Technology, enterprise software, digital health.
- Notable Investments: Box, Phia, a16z.
- Stripes
- Details: Stripes is a growth equity firm that invests in internet, software, and consumer businesses. They participated in the Series C funding round for monday.com.
- Investment Focus Areas: Internet, software, consumer products.
- Notable Investments: Reformation, Udemy, Siete Family Foods.
What's Next for monday.com?
monday.com stands at the cusp of significant growth opportunities. With plans to expand its customer base across various industry verticals and introduce a free usage tier, the company aims to attract a broader range of users. Additionally, geographic and linguistic expansion, along with enhanced integration and automation technologies, present substantial avenues for growth.
Future fundraising opportunities are on the horizon, with an IPO being a strong possibility. This could provide the necessary capital to further scale operations and enhance platform capabilities. However, the company faces challenges such as intense competition from established players like Slack and Airtable, and the need to continuously innovate to maintain its competitive edge.
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